European Price January 2015--CRUSTACEANS
2015-01-29 15:04:06   copyfrom:FIN    hits:

Prices for European-caught crustaceans (Cancer pagurus and Homarus gammarus) reached their traditional peak at the end of December.
It is still too early to predict what the American lobster new season (in May) will bring. However, our correspondent indicates that lobster landings from Maine and Canada increased by 70% between 2007 and 2013 without affecting the biomass. Last year, volumes were similar to those in 2013 and for 2015 no increase in supply is expected (currently at around 120 000 tonnes). Only around 10% of total lobster production is directed to Europe, but it is anticipated that the USD/EUR exchange rate will make the product more expensive for the European market.

Demand for shrimp is weak this month on the European market as well as on all other major markets. Preparations for the Chinese New Year celebrations (mid-February) boosted demand in Asia but purchases are now coming to an end. Shrimp production in most producing countries is seasonally low (until the end of February)—except in countries with production throughout the year such as Ecuador—and prices remain stable to slightly softening.
The beginning of 2015 brings major changes for exporters of shrimp to the EU. While Ecuador will continue to avail of preferential duties in 2015 under the EU’s Generalized System of Preferences (GSP+), Thailand lost its preferential tariff in January and duties on frozen shrimp exports to the EU will triple from 4.2% to 12%.
The arrival of large amounts of ground-frozen Pleoticus muelleri (cheaper compared with frozen-on-board shrimp) coupled with the end of the peak consumption period are pushing Argentina red shrimp prices down on the European market. Purchases are limited because of the reluctance to retain stocks. Chinese purchases for the New Year festivities have been completed already, which, together with the situation in Europe and the significant depreciation of the Euro against the Dollar in recent weeks, has led to a price decrease in Argentina of more than USD 0.50/kg.

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