Fish Products Market Will Generate Outstanding Growth Opportunities in Coming Year

Fish Products Market: a Global Market Analysis

Prices of fish and fish products are generally declining, as falling consumer demand hurts seafood sales across the board. The only species that have been spared from the price drop are those that have had production challenges.

Fish Products Market and Prices

They include wild whitefish and yellowfin tuna, as well as farmed salmon and tilapia, whose prices have remained stable. Due to substantial increases in production, prices for other farmed species such as European sea bream and turbot have fallen to record lows. Catfish prices in Vietnam, on the other hand, have begun to recover after falling earlier this year. Shrimp prices are still very low.

Due to various supply issues in Chile, the market for farmed salmon has remained fairly constant. Prices are still remunerative for most producers, albeit being lower than in 2007, and could rise until early next year, reflecting the impact of Chile's reduced production on world supply.

In July 2008, fish oil prices reached an all-time high of USD1 815 a tonne, but have since begun to decline in line with vegetable oil prices. In anticipation of the stricter European Union rules, demand for fish oil capsules was particularly low in the third quarter of 2008. The current market position suggests that fish oil prices will fall in the coming months, as customers look to be well covered, producers have big stockpiles, and competitive vegetable oil prices are decreasing.

Catfish prices have risen sharply as processors scramble to meet the rising demand of Fish Products Market from Russia, Ukraine, East Europe, and the Middle East, resulting in a more than doubling of shipments from Viet Nam in the first half of 2008.