Cephalopods - November 2009
Lower squid supply worldwide
Peruvian catches of giant squid were low in 2009. In the first six months of the year some 188 000 tonnes were landed, a decline of 26% from last year. The difficult situation of the squid fisheries in the South West Atlantic has been described already in previous articles in the GLOBEFISH Highlights.
Total squid exports from Argentina were 48 000 tonnes in the first eight months of 2009, which compares with 166 000 tonnes for the whole of 2008, but in reality, by the end of August, all available production has been exported already. The main recipient of Argentinean squid is Spain, which imported 19 000 tonnes in the January-August period 2009, which compares with 61 000 tonnes in 2008 (whole year). China was second with 10 000 tonnes, while in 2008 exports to China were almost equal to those of Spain. In this period of crisis, Chinese vessels stopped fishing early. Argentinian producers prefer to export to the higher value Spanish market rather than to the Chinese market.
Prices did not increase as much as one would expect given the acute shortage. The main reason for this was the overall economic crisis, which was felt very strongly in Spain. In addition, Moroccan squid entered the Spanish market in the summer months, keeping the market well supplied, although there was limited buying interest by traders.
Japanese squid imports were relatively stable in the first half of the year at 30 700 tonnes. China continued to be the main supplier of squid to the Japanese market, mainly value added products, produced from imported raw material. Peru, the main supplier of giant squid, increased its exports to Japan despite the decline in landings. Prices of squid in Japan increased slightly in recent months, but overall prices are far lower than last year.
European squid imports declined, in line with the very poor fishing season in the South West Atlantic. In the first half 2009 squid imports by Spain totaled 52 500 tonnes, 20 000 tonnes lower than last year. Imports from the South West Atlantic were 31 600 tonnes, which compares with 46 000 tonnes in the January –June 2008 period. The Italian market also reported lower imports, though the decline was limited with imports 4 000 tonnes lower. Spain is the main exporter to this market, and moderate increases in exports were reported.
Octopus availability down
Octopus prices declined sharply in Japan in the opening months of 2009, however, at present the trend is tending upward again. More price hikes are likely in coming months. Japan is pressing Mauritanian partners for lower prices for small-sized octopus, which the country cannot export to the EU market.
Total octopus imports into Japan were slightly down during the first six months of the year. Mauritania remained the largest supplier, expanding its shipments by 30%, at the cost of all other main suppliers . The trend for the third quarter showed increased quantity while value declined. This is mainly because of the strength of the Japanese YEN against the USD.
Octopus imports by Italy declined somewhat in the first half of the year. Morocco continued to be the main supplier to the Italian market, while Spain shipped less. This seems to indicate that some landings are carried out directly in Morocco rather than in Las Palmas. Exports from Mauritania showed considerable growth, after a rather difficult 2008.
Demand in Spain was poor in 2009, with the country suffering from the effect of the economic crisis. High value species such as octopus were heavily impacted and imports declined in the first half of 2009 to 22 900 tonnes, 5 500 tonnes less than in 2008. The decline was mainly due to lower shipments from Morocco. Exports from Mauritania to Spain increased, in a similar way to the situation in the Italian market. It is likely that Mauritania has learned how to cope with the EU legislation on minimum size of octopus. Octopus prices in Spain declined sharply in the course of 2009. Large sized octopus is presently selling at EUR 6.80/kg, which compares with EUR 8.50/kg one year earlier. This reflects the economic problems Spanish consumers currently have with high value species and sizes. In fact the smaller octopus sells at EUR 4.50/kg, which is similar to last year’s price level.
Japan drives the market
The cephalopod market is divided in two different segments: firstly, the Japanese market which is quite strong, where demand is good and where prices are expected to go up, and secondly, the EU market which is not expected to recover in the coming months, a normally low consumption period for cephalopods. In Japan, traders will ensure good supply to this market but in the EU exporters will have to wait for the economic recovery and will see some positive signs probably towards the Lenten season in 2010.
