Index for prices

Groundfish 11

Flatfish 12

Tuna 12

Small Pelagics 13

Cephalopods 13

Crustaceans 14

Bivalves 15

Salmon 16

Trout 16

Freshwater fish 16

Non Traditional Species 17

Seabass-Seabream- Meagre 17

The European Fish Price Report, based on information supplied by industry correspondents, aims to provide guidance on broad price trends. Price information is indicative and should be used only for forecasting medium- and long-term trends. FAO is not responsible for any errors or omissions.

LATEST TRENDS

Recent developments on seafood certification

There are a number of ongoing initiatives related to voluntary seafood certification that have the potential to impact international seafood trade, market access and prices through improved transparency and reduced duplication, which is costly to the industry and consumers. The Global Seafood Sustainability Initiative (GSSI), a multi-stakeholder consortium of industry, civil society, and intergovernmental agencies, is developing a global benchmarking tool to provide information about certification schemes which are put forward for voluntary benchmarking against the GSSI criteria. These criteria are based on FAO instruments, namely the Code of Conduct for Responsible Fisheries (CCRF), FAO Guidelines for Ecolabelling of Fish and Fishery Products from Marine (Inland) Capture Fisheries, and the FAO Technical Guidelines for Aquaculture Certification. Additional references for the GSSI criteria include relevant ISO and ISEAL standards, especially for processes. The structure of the tool was agreed unanimously at the last GSSI steering board meeting on 10-11 December 2014 and will be communicated to the expert working groups in order to finalize the tool. Pilot testing is expected to begin early 2015.

A second initiative follows on a proposal submitted to the ISO Technical Committee on Fish and Aquaculture (ISO/TC234) to develop an ISO sustainability standard for seafood from marine capture fisheries. The ISO/TC234 members accepted the proposal and the first working party met in Trondheim, 17-18 November 2014. The timeline for development of the new ISO sustainability standard is three years. Like the GSSI, the ISO/TC234 sustainability standard is tentatively grounded in the FAO CCRF and related FAO Guidelines.

Issue 01/2015 January

2

GROUNDFISH

A third related activity is a research project to produce a comprehensive Marine Review of voluntary certification for seafood, which is the work of a multi-stakeholder non-profit organization, State of Sustainability Initiatives (SSI). This Marine Review includes FAO and GLOBEFISH data, as well as inputs from the seafood certification schemes. It is expected to be launched in mid-2015.

Raw material prices have increased drastically on the European market, especially for cod, Alaska pollock, hoki, hake and haddock. The combination of high demand, the ban from the Russian Federation and the USD/EUR exchange rate is creating unfavourable conditions for European importers. The Norwegian Seafood Council reports that 2014 has been the best year ever for Norwegian exports of cod, saithe, haddock and other whitefish, both in terms of value and volume. Norway exported groundfish for a total of NOK 12 billion in 2014, representing a 20% increase compared with the previous year. 2014 set new sales records for codfish, for fresh and frozen product as well as for clipfish. Codfish exports totalled NOK 7.2 billion, a 25% increase on 2013 figures. In terms of volume, codfish exports increased by 13% to reach 260 000 tonnes in 2014. The Norwegian Seafood Council states that, following several years of low codfish prices, 2014 has seen a substantial price rise, which combined with high volumes has been the major factor behind this record year for codfish sales. In addition, a favourable currency situation has also been of great help to codfish exporters. Exports of frozen codfish products increased by NOK 730 million to a total of NOK 4.4 billion for 2014. Prices for frozen products have reached levels never seen before. Total exports of whole round frozen codfish increased by 23% while frozen fillet exports increased by 7% compared with 2013. China is the main market for round frozen whole fish, with a 46% market share, while the UK is the largest market for frozen fillet, with a 45% market share. Norway also set a new record for clipfish exports with a figure of NOK 3.7 billion. As was expected, wet-salted cod fillets prices from frozen raw material (Gadus macrocephalus) continue to increase due to rising demand from China and Japan. Wet-salted cod fillets (Gadus morhua) prices from fresh raw material of Faroe Islands and Icelandic origin are increasing due to the low availability resulting from adverse weather conditions, as is usual for this time of year. The Baltic cod situation is still difficult due to the poor physical condition of the species, commonly known as the “skinny cod” problem. This issue, together with quite good prices for small pelagic species, has seen fishermen’s interest in cod decline somewhat this year, resulting in very low utilization of the Baltic countries’ cod quota (slightly above 50%). Combined with strong competition from Norwegian cod, the overall market situation does not look

1.75

1.01.31.51.82.02.32.5

Fresh gutted

EUR/kg

COD - in Poland (FOB, origin: Baltic Sea)

3

TUNA - BILLFISHES

FLATFISH

very promising for Baltic cod. However there is also more positive news - a huge inflow of salty water from the North Sea to the Baltic was observed recently. This should improve spawning conditions for cod, although the economic benefits will not been seen for a couple of years at least. In the Russian Federation, the new year has started with an upward price trend for Alaska Pollack. Supply is very low as catches are mainly for export. Prices are ranging from RUB 88/kg to RUB 90/kg (EUR 1.13-1.16/kg) on the Vladivostok wholesale market and from RUB 98/kg to RUB 115/kg (EUR 1.26-1.48/kg) on the Moscow wholesale market for >25cm Alaska Pollack. Large sizes (>30 cm and > 35 cm) are not available. However, the situation is expected to change with the upcoming Chinese New Year when many Chinese companies will close for a long holiday, allowing Alaska Pollack to be redirected to the domestic market. Meanwhile, saithe prices are reported to be at a high level.

Demand for turbot increased in December during the Christmas period although sales did not surge as expected. Consequently, prices remain stable this month as farmers still have ample stocks.

Fishing in the Western and Central Pacific continues to be moderately good. Thai canneries have reopened after the holiday period, with raw material inventory remaining at moderate-to-high levels. Market activity is reported to be improving, helped by stable fish prices. Skipjack prices are moving within the USD 1 150 to USD 1 200/tonne CFR range. Catches in the Eastern Pacific are slow. Meanwhile, canneries continue to report healthy inventories. Both skipjack and yellowfin prices remain at USD 1 100 and

6.659.10

13.50

19.90

5.07.09.0

11.013.015.017.019.0

Fresh - whole, cultured 0.5-1kg/pc 1-2 kg/pc2-3 kg/pc 3-4 kg/pc

EUR/kg

TURBOT - in Spain, origin: Spain

1.101.18

0.5

1.0

1.5

2.0

2.5

3.0

Skipjack Bangkok CFRSkipjack Ecuador, ex-vessel

USD/kg

TUNA - Pacific Ocean

4

SMALL PELAGICS

USD 1 900/tonne ex vessel Manta respectively. The second IATTC veda closure ended on 18 January. EU has extended tariff preferences to Ecuador from 1 January 2015 until the signature of the Free Trade Agreement in June 2016, bringing relief in the Ecuadorian tuna sector. However, Ecuador is preoccupied by the recent inclusion of the Philippines into the EU’s Generalized System of Preferences Plus (GSP+), given that the Philippines is a direct competitor of Ecuador on the EU market. Vessels in the Indian Ocean are still experiencing poor catches. Local canneries’ inventory remains sufficient for the time being. Skipjack and yellowfin prices are still at the EUR 750/tonne FOB and EUR 1 775/tonne Mahe level respectively. The ICCAT FAD closure is now in force in the Atlantic Ocean until 28 February. As a result, fishing continues to slow down. As a result, skipjack prices have increased to EUR 800/tonne ex vessel Abidjan. Yellowfin prices have also increased to EUR 1 800/tonne. Due to the decreasing supplies from Atlantic and Indian Oceans, European market prices for skipjack have increased to the EUR 950/tonne CFR Spain level. Yellowfin prices remain at EUR 1 950/tonne. It is reported that more than 23 800 tonnes of frozen cooked loins have entered the European market, awaiting clearance under the duty free quota. The market price for cooked, double cleaned yellowfin loins has decreased to USD 7 700/tonne DDP Italy in anticipation of the importation of loins under the duty free quota.

In the Russian Federation, Pacific herring catches are currently for export only, causing high demand and increasing prices on the domestic market. At the Vladivostok wholesale market, prices for 200-300 g/pc Pacific herring are approximately stable and range from RUB 35.00 to RUB 40.00/kg (EUR 0.45-0.51/kg). Meanwhile, at the Moscow wholesale market, prices for 250-

1.80

0.800.75

1.77

0.5

1.0

1.5

2.0

2.5

3.0

Skipjack, Seychelles, FOB Yellowfin, Seychelles, FOB

Skipjack, Abidjan ex-vessel Yellowfin, Abidjan, > 10 kg, ex-vessel

EUR/kg

TUNA - Indian/Atlantic Oceans

EUR/kg

TUNA - Indian/Atlantic Oceans

1.95

0.950.5

1.0

1.5

2.0

2.5

3.0

Yellowfin > 10 kg, Spain CFRSkipjack main sizes, Spain CFR

EUR/kg

TUNA - Spanish canneries

5.70

7.70

2.0

3.5

5.0

6.5

8.0

9.5

Skipjack - frozen cooked loins, single cleaned, Spain/Italy DDPYellowfin - frozen cooked loins, double cleaned, Italy DDP

USD/Kg

TUNA - Loins

5

CEPHALOPODS

300 g/pc (October 2014 catches) are following an upward trend, ranging from RUB 57.00 to 58.00/kg (EUR 0.73-0.74/kg) and sales are increasing. Demand for > 300 g/pc sizes is very high and prices are rising, reaching around RUB 65.00-70.00/kg (EUR 0.83-0.90/kg).

The Norwegian Seafood Council reports that in 2014 Norway exported mackerel worth NOK 4.1 billion, an increase of 43% compared with 2013. This is a new export record for Norwegian mackerel. China was the largest importer of Norwegian mackerel in 2014, (+44% compared with 2013) mainly for processing and re-export to Japan. Direct exports to Japan also increased by 17%, and overall, more than 40% of Norwegian mackerel was exported to Japan. Other major markets for Norwegian mackerel were Nigeria, South Korea and the Netherlands. The average price of frozen whole mackerel was NOK 10.22/kg in 2014, a decrease of 9% compared with 2013 average prices. In contrast, herring exports in 2014 decreased by 14% compared with 2013 and amounted to only NOK 2.7 billion. The Norwegian Seafood Council states that the decline in herring exports was mainly due to reduced quotas and to the Russian import ban which was introduced last August. Germany was the biggest market for Norwegian herring in 2014 followed by Lithuania, Russia and Ukraine.

According to the Holterman report, recent bad weather in the South of Norway has strongly affected fishing and only 3 848 tonnes of North Sea herring, against the 132 228 tonne quota, have been caught so far. In the North, there has been some fishing activity with total catches of 28 299 tonnes of spring spawning herring (all for human consumption), against the available quota of 176 846 tonnes. Scientists from the Icelandic research cruise also encountered adverse weather conditions but reported positive findings, says the Holterman report. The Icelandic capelin catch is now officially reported at 4 907 tonnes against the 126 831 tonne quota despite the limited number of boats on the fishing grounds at the start of the season.

Squid catches in South Africa, after a strong start following the opening of the new fishing season on 23 November, have now fallen to moderate levels. There are stocks on offer but prices are down sharply compared with prices recorded in October, before the closure of the previous season (EUR 6 200/tonne reported this month for XL size against the peak price of around EUR 7 700/tonne last October). A fair amount of stock was bought at a high beach price, meaning that those holding stock need to get good prices to cover their buy-in costs. The local currency has recently been firmer against the Euro, which also makes the situation more demanding for local exporters.

6.10

3.0

4.0

5.0

6.0

7.0

8.0

Squid - Whole, FAS, size M

EUR/kg

SQUID - in Italy, origin: South Africa

6

CRUSTACEANS

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. Shrimp 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

7.70

3.55.06.58.09.5

11.0

40-50 pc/kg

USD/kg

WHITELEG SHRIMP - origin: Ecuador

4.50

1.0

2.0

3.0

4.0

5.0

400-600 - 600-800 kg/pc

EUR/kg

CRAB - in France, origin: Europe

32.00

10.0

15.0

20.0

25.0

30.0

35.0

400-600/600-800 gr/pc

EUR/kg

EUROPEAN LOBSTER - in Europe, origin: Ireland

7

BIVALVES

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.

Prices for mussels of Spanish origin are slightly higher this month compared with the month of December. This is particularly true for large sizes (20-25 pc/kg and 25-30 pc/kg) and is a consequence of the lack of supply following the end-of-year peak consumption period for these products. For other sizes, prices are reported to be approximately stable. On the French market, both French and Dutch mussels are widely available. Some Irish mussels are also present on the market and their availability is expected to increase in January. Spanish galloprovincialis mussels continue to be offered as a low price option. The French National Institute of Statistics and Economic Studies (INSEE) reports that in December (the month during which half of the production is sold) this year the average consumer price for medium-caliber cupped oyster reached a new record level at EUR 10.07/dozen. Oyster prices continue to increase due to reduced supply. However, it is reported that large-sized oysters are more abundant this year due to a warmer autumn and to the lack of exports to the Russia Federation which is a traditional market for large sizes: n°1 and n°2.

10.07

5.06.07.08.09.0

10.011.0

Monthly average consumer prices in metropolitan France - Medium-caliber cupped oysters

EUR/dozen

OYSTER - in France - Source Insee

4.90

3.03.54.04.55.05.56.0

Monthly average consumer prices in metropolitan France

EUR/kg

MUSSEL BOUCHOT - in France - Source Insee

8.507.507.107.00

3.0

4.5

6.0

7.5

9.0

10.5

> 10-20 pc/kg > 20-30 > 30-40 > 40-60 > 60-80

EUR/kg

ARGENTINA RED SHRIMP - origin: Argentina

8

SALMON

TROUT

Higher water temperatures, meaning better growth conditions, in Norway this year have seen supply volumes of farmed Atlantics up significantly compared with 2013. Combined with the effects of the Russian ban, this relative surplus has pushed prices down in the last quarter compared with the same period last year. In particular, the sudden drop in early December brought temporary turmoil to the markets. From an objective perspective, however, 2014 has undoubtedly been a good year for the industry and the future remains bright. Helped by significant depreciation of the Krone, Norwegian exporters directed substantially more fish to almost all EU destinations, with the notable exception of France. In fact, 2014 was a record year in terms of export revenue, with the Norwegian Seafood Council (NSC) putting the figure at NOK 43.9 billion with an average export price of NOK 41/kg for fresh whole Atlantics. The EU absorbed an additional 11% of Norwegian salmon this year compared with 2013, while the US increased its imports by 9000 tonnes, representing a 47% increase. Meanwhile, the UK salmon industry is booming on the back of strong demand from the US and Chinese markets, and a steady shift in French preferences toward Scottish farmed salmon. Analysts are forecasting only minimal growth in Norwegian production volumes in 2015, and forward prices suggest the aggregate consensus expectation is for further prices increases, particularly in the first half of the year. However, there still remains some uncertainty as to the long-term consequences of the situation in Russia, where the picture is complex and involves a number of contrasting effects, including the broader economic consequences of the ban and its impact on consumer spending. In particular, there is some concern as to whether early year demand for Norwegian salmon will be as strong this year in the absence of Russia. In addition, feed price increases and other costs will likely continue climbing next year, while sea lice levels, which tend to increase in line with water temperature rises, remain a persistent problem pushing up costs and preventing growth where regulatory limits are breached.

The Norwegian trout industry attempted to mitigate the impact of the Russian ban in much the same manner as their salmon counterparts. However, while salmon markets are highly diverse and globalized, Russia traditionally represents a sizeable proportion of Norway’s entire trout export market and thus some negative effects were inevitable. This has meant a 9.5% drop in Norwegian trout export volumes in 2014, according to the NSC, although good early year prices have seen total export revenue remain approximately flat, year-on-year. Meanwhile, trout prices in Italy are reported to have remained stable this month with a stagnating market and traded volumes below usual levels.

2.902.70

1.5

2.0

2.5

3.0

3.5

Trout: Salmo spp Rainbow Trout: Oncorhynchus mykiss

EUR/kg

TROUT - Ex-farm prices in Italy

9

FRESHWATER FISH

SEABASS – SEABREAM - MEAGRE

In Hungary, the traditional festive season sales campaign for live carp is now over and prices have increased again, back to their normal levels. Both supply and demand have dropped. Tilapia prices are reported to have dropped this month but, due to the relatively weaker Euro, this has had no real effect on the European market. Pangasius prices are reported to be stable this month on the European market. According to the Viet Nam Association of Seafood Exporters and Producers (VASEP), the Directorate of Fisheries under the Ministry of Agriculture and Rural Development forecasts that 2015 pangasius exports from Viet Nam will reach USD 1.75-1.85 billion, equivalent to this year’s level, with Europe as the number one market. Nile perch prices dropped during the Christmas season due to low demand for fresh products. This month, however, prices are reported to be recovering.

The fourth quarter of 2014 continued to be a stable period for Turkish seabass and seabream producers. Average prices (domestic and export) for both species were steady, while the New Year vacation in Europe boosted exports in late December. Seabream sales were strong for 300-400 and 400-600 g fish during December and 2013 generation seabream stocks have now been fully harvested. In Greece, meanwhile, companies continue to focus on debt servicing strategies and corporate restructuring in an attempt to return to profitability. Higher international prices for seabream, the primary export species, have eased pressure on margins even though Greece has exported less fish overall this year compared with last year. For bass, the situation is somewhat less positive, as the average export price this year for fresh whole fish is lower than 2013, and volumes are approximately flat as of September. This is no doubt related to the greater penetration of cheaper Turkish seabass into traditionally Greek markets than there has been in the case of seabream. Greek producers have been somewhat relieved by the resilience of the Italian market this year but Spain, the UK, Germany and the USA have all substantially increased the proportion of Turkish-origin imports, while boosted Russian demand following the import ban has been an extremely lucrative development for Turkish exporters. In the short term, the usual cyclical pattern should see prices for both bass and bream trend upwards in early 2015. In the longer term, juvenile production data for the major bass and bream producers suggest that production growth, for at least the next two years,

4.70

4.50

3.03.54.04.55.05.56.06.5

Seabass fresh whole 300-450 gr/pc Seabream fresh whole 300-450 gr/pc

EUR/kg

SEABASS/SEABREAM - in Italy origin: Greece

EUR/kg

SEABASS/SEABREAM - in Italy origin: Greece

10

will be approximately flat for seabream and likely negative for seabass. The future effect on the market is difficult to predict precisely, but strong growth in many emerging markets and evidence of slow recovery in many established ones suggests that demand is now outstripping supply. This should see prices rise in turn.

7.00

4.05.06.07.08.09.0

10.0

1000-2000 gr/pc fresh whole 2000-4000

EUR/kg

MEAGRE - in Italy, origin: Egypt

11

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Cod/Cabillaud, Morue/ Fresh gutted 1.49 1.75 - Poland FOB Baltic SeaBacalao IQF portion, single frozen 100-150 g/pc 5.95 6.99 = Italy CIF IcelandGadus morhua Fresh - fillet 100-200 g/pc 5.87 6.89 CPT Denmark

200-400 6.10 7.16Fresh - Whole 1-2 kg/pc 5.07 5.95

2-4 5.45 6.40Single frozen 5.20 6.11 + Europe DDP NorwayIndustrial blockFillet - light salted, skin-on, IQF 500-1000 g/pc na Spain CFR China100% net weightFillet - wet salted - 1st quality 700-1000 g/pc 8.90 10.45 + Italy DDP Icelandproduced from fresh raw materialStockfish 700 g/pc 18.00 21.14 = Norway

Gadus macrocephalus Fillet - wet salted - 1st quality 400-700 g/pc 7.00 8.22 + Denmarkproduced from frozen raw material

Hake/Merlu/Merluza Minced block 1.58 1.86 = Namibia FOB NamibiaMerluccius capensis for Spanish market

Fillet - skin-on 2-4 oz/pc 3.35 3.93 Spain DDPFrozen at land 4-6 4.00 4.70100% net weight 6-8 4.10 4.82

8-12 4.50 5.28IQF portion, trapeze 90-110 g/pc 5.65 6.64 = Italy CIFIQF 100-200 g/pc 6.10 7.16 * Europe DDP South Africa

Merluccius gayi H&G 100-200 g/pc 1.58 1.85 CFR Peru1.49 1.75 Ecuador

Merluccius productus Fillet, PBO 2.62 3.08 - Spain CIF USAMinced block 1.53 1.80 = DDU

Hoki - Grenadier/ Fillet block 2.94 3.45 New ZealandGrenadier/Merluza Block single frozen 3.10 3.64 + Europe CFRMacruronus novaezelandiaeAlaska pollack/Lieu Industrial block single frozen 2.60 3.05 + USAde l'Alaska/Colín Industrial block double frozen 2.48 2.91 + Chinade Alaska Fillet, IQF 2-4 ozTheragra chalcogrammaSurimi (Alaska pollack) Stick - Paprika 250 g/pc 2.45 2.88 = France CFR SpainSaithe/Lieu noir/ Fillet - interleaved 200-400 g/pc na Europe CIF Faroe IslandsCarbonero (Pollock, Coley)

Pollachius virens Fillet - skinless, PBI, interleaved 16-35 oz 4.70 5.52 = Spain DDP IcelandMonkfish/Baudroie/ Fresh - Tail 0.3-0.5 kg/pc 8.93 10.49 Italy CPT UKRape 0.5-1 11.98 14.07Lophius spp. 1-2 12.54 14.73

> 2 13.39 15.73Fresh - whole 0.5-1 kg/pc 4.00 4.70 FCA FranceTails, skinless 100-250 g/pc 5.75 6.75 Spain DDP NamibiaFrozen at land 250-500 6.75 7.93100% net weight 500-1000 8.00 9.40

> 1000 8.75 10.28Haddock/Eglefin/Eglofino H&G < 0.8 kg/pc NOK na Sweden FCA NorwayMelanogrammusaeglefinusLing/Lingue franche/ Fillet - wet salted 1-1.5 kg/pc 4.90 5.75 = Italy DDP Faeroe IslandsMaruca Produced from fresh raw materialMolva molva high quality

Price per kgAs stated

GROUNDFISH

Reference

January 2015

12

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Price per kgAs stated

Reference

Turbot/Rodaballo Fresh - whole 0.5-1 kg/pc 6.65 7.81 = Spain CIF Spain Psetta maxima cultured 1-2 9.10 10.69 =

2-3 13.50 15.85 =3-4 19.90 23.37 =

Fresh - whole 0.5-1 kg/pc 13.50 15.85 Netherlandswild 1-2 22.50 26.42

2-3 25.50 29.953-4 33.00 38.764-6 37.00 43.45

Fresh - whole 0.8-1 kg/pc 6.95 8.16 Italy CPT Spain1.5-2 7.27 8.541-1.5 7.27 8.542-2.5 11.88 13.950.5-1 kg/pc 8.55 10.04 Netherlands0.7-1 11.42 13.411-2 12.50 14.68> 3 13.61 15.98

Sole/Sole/ Fresh - whole < 170 g/pc 12.60 14.80 Spain CIFLenguado wild 160-220 13.20 15.50Solea vulgaris 210-300 14.00 16.44

400-500 15.00 17.62Fresh - whole No. 2 Italy CIF

No. 3No. 4

Fresh - gutted No. 2 14.00 16.44 CPTNo. 3 12.00 14.09No. 4 11.45 13.45No. 5 10.50 12.33 FCA

European plaice/ Fresh - whole 300-400 g/pc 3.95 4.64 Spain CIFPlie d'Europe/ 400-600 4.20 4.93Solla europea > 600 4.70 5.52Pleuronectes platessa IQF, white skin-on, 25% glaze No. 2 4.00 4.70 + Netherlands FOB

IQF skin-off, 25% glaze 4.25 4.99 + for Italian marketEuropean Flounder/ Fresh - whole 1.50 1.76 Italy CPT DenmarkFlet d'Europe/Platija europeaPlatichthys flesus Fresh - whole 1.40 1.64 FCA Netherlands

Tuna/Thon/Atún Skipjack - whole main size 1.00 1.18 - Bangkok CFR Western/CentralThunnus spp. Pacific Ocean

Skipjack - whole 1.65 1.10 - Ecuador Eastern TropicalYellowfin - whole 2.40 1.90 = ex-vessel Pacific OceanSkipjack - whole main size 0.75 0.88 = Seychelles Indian OceanYellowfin - whole 1.77 2.08 = FOBSkipjack - whole 0.80 0.94 + Abidjan Atlantic OceanYellowfin - whole > 10 kg 1.80 2.11 + ex-vesselSkipjack - whole 1.8-3.4 kg/pc 0.95 1.12 + Spanish Various originsYellowfin - whole > 10 kg 1.95 2.29 = Canneries CFRSkipjack - cooked & cleaned single cleaned 4.85 5.70 - Italy DDP Solomon Islandsloins - vacuum packedYellowfin - cooked & cleaned double cleaned 6.56 7.70 - Kenya/Mauri-loins - vacuum packed tius/Solomon Is.

No quotations

TUNAS/BILLFISHES

FLATFISH January 2015

January 2015

13

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Price per kgAs stated

Reference

Tuna/Thon/Atún Yellowfin - whole 3-10 kg 1.47 1.73 Spain DAT Atlantic OceanThunnus spp. Bigeye - whole > 10 kg 1.80 2.11

Yellowfin - whole 2.00 2.35 DDP Indian OceanYellowfin - frozen loins 5.00 5.87 FCA Eastern Pacific Skipjack - frozen loins 4.00 4.70 DDP OceanSkipjack - pre-cooked loins 3.58 4.20 - Europe CFR EcuadorYellowfin - pre-cooked loins double cleaned 4.68 5.50 *

single cleaned 4.34 5.10 *Skipjack - whole 1.9-3.4 kg/pc 1.15 1.35 FOB

3.5-5.0 kg/pc 1.19 1.40Swordfish/Espadon/ Frozen at sea, DWT 30-50 kg/pc 5.70 7.92 Spain FOT SpainPez espada 100% net weight 50-70 5.60 7.78Xiphias gladius

Mackerel/Maquereau/ Fresh - whole 2.40 2.82 + Italy CPT FranceCaballa Whole 200-400 g/pc 0.98 1.15 = Netherlands/Poland UKScomber scombrus 300-500 1.15 1.35 = FOB

H&G > 200 g/pc 1.25 1.47 + for Eastern Europe Greenl./Faroe. IWhole 1-3 pc/kg 0.96 1.13 * Tunisia FOB Tunisia

for European marketHerring/Hareng/Arenque Fresh - fillet 2.35 2.76 Italy CPT DenmarkClupeidae Fresh - whole 70-100 g/pc 0.38 0.45 - Poland FOB BalticSprat/Sprat/Espadín 0.12 0.14 -Sprattus sprattusSardine/Sardine/Sardina Fresh - whole 0.88 1.03 Italy CPT CroatiaSardina pilchardus 1.10 1.29 Italy

IQF 9-10.5 cm 0.90 1.06 - Tunisia FOB Tunisiafor European market

CEPHALOPODSSquid/Encornet/Calamar Frozen - whole S (< 18 cm) 5.80 6.81 - Italy CIF South AfricaLoligo spp. M (18-25) 6.10 7.16 -

L (25-30) 6.20 7.28 -XL (>30) 6.20 7.28 -

Block FAS 9-12 cm Spain CIF Falkland Islands12-14 (Malvinas)14-16

Dosidicus gigas Fillet - clean, pack in block A 1.06 1.25 Europe CFR Peruand bulk bag 1.06 1.25 ChileTentacles - bailarina cut, pack A 1.41 1.65 Peruin block and bulk bag 1.36 1.60 ChileRaw wings - skin-on, pack A 0.77 0.90 Peruin block and bulk bag 0.81 0.95 Chile

Octopus/Poulpe/Pulpo Whole T1 9.50 11.16 = Spain DDP MoroccoOctopus vulgaris T2 9.00 10.57 =

T3 8.50 9.98 =T4 8.00 9.40 =T5 7.50 8.81 =T6 7.00 8.22 =T7 6.50 7.63 =T8 6.00 7.05 =T9 5.50 6.46 =

SMALL PELAGICS January 2015

No quotations

TUNAS/BILLFISHES (Cont.) January 2015

January 2015

14

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Price per kgAs stated

Reference

Octopus/Poulpe/Pulpo Whole - FAS, no glaze T1 9.05 10.63 Morocco FOB MoroccoOctopus vulgaris T2 8.05 9.45 for Spanish mkt

T3 7.05 8.28T4 6.15 7.22T5 5.73 6.72

Sushi slice 7 g/pc 12.35 14.50 - Europe CFR Indonesia100% net weight 9 12.35 14.50 -Flower type 1-2 g/pc 3.58 4.20 -90% net weight > 2 4.09 4.80 -Whole T1-T3 5.00 5.87 Senegal

T4-T6 4.70 5.52Cuttlefish/Seiche/ Choco All sizes 3.50 4.11Sepia Mungo 5-6-7-8 3.25 3.82Sepia spp. Whole, cleaned, IQF < 1 Germany CFR India

25% glaze 1-2Whole, cleaned, IQF < 1020% glaze 10-20

CRUSTACEANSWhiteleg shrimp/ PD, chemical treatment 31-40 pc/lb 9.54 11.20 - Europe CFR IndonesiaCrevette pattes 100% net weight 41-50 8.56 10.05 -blanches/Camarón treated with non-phosphate 51-60 7.79 9.15 -patiblanco 61-70 7.45 8.75 -Penaeus vannamei 71-90 7.07 8.30 -

91-120 6.94 8.15 -Head-on, shell-on 30-40 pc/kg 9.10 10.69 + Central

40-50 8.30 9.75 + America50-60 7.40 8.69 +60-70 7.10 8.34 =70-80 7.00 8.22 +80-100 6.40 7.52 +100-120 6.00 7.05 +

Head-on, shell-on 30-40 pc/kg 8.53 8.70 - South/Central Ecuador40-50 7.03 7.70 - America FOB50-60 6.32 6.65 - for European main60-70 5.65 6.15 - ports70-80 5.33 5.80 -80-100 na

Argentine red shrimp/ Head-on, shell-on > 10-20 pc/kg 8.50 9.98 - Spain EXW ArgentinaSalicoque rouge/ > 20-30 7.50 8.81 -d'Argentine/Camarón > 30-40 7.10 8.34 -langostín argentino > 40-60 7.00 8.22 -Pleoticus muelleri FAS 10-20 pc/kg CIF

20-3030-4040-60

Black tiger/Crevette Headless 13-15 pc/kg 13.63 16.00 Europe CFR Bangladeshtigrée/Camarón tigre 20% glaze, IQF 16-20 12.14 14.25Penaeus monodon 21-25 11.28 13.25

26-30 9.88 11.6031-40 9.45 11.1041-50 8.86 10.4051-60 8.26 9.70

CEPHALOPODS (cont.)

No quotations

No quotations

No quotations

January 2015

January 2015

15

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Price per kgAs stated

Reference

Norway lobster/ Fresh - Whole 21-30 pc/kg 13.00 15.27 Spain DDP NetherlandsLangoustine/Cigala 4X1.5 kg 16-20 15.00 17.62Nephrops norvegicus 10-15 18.00 21.14

8-12 19.50 22.906-9 21.50 25.254-7 28.00 32.88

Whole 00 12.38 14.54 CIF Scotland0 10.38 12.191 9.38 11.022 8.38 9.843 7.38 8.674 6.38 7.495 5.15 6.05

Whole 1-4 pc/kg 19.50 22.90 DDP Iceland5-7 15.50 18.208-10 13.50 15.8511-15 11.50 13.5116-20 9.30 10.9221-25 8.30 9.7526-35 7.30 8.57

European lobster/ Live - bulk 400-600 g/pc 32.00 37.58 + France delivered IrelandHomard européen/ 600-800 32.00 37.58 + to French vivierBogavante companiesHomarus gammarusAmerican lobster/ Frozen whole cooked Europe CIF CanadaHomard américain/ popsicle (canners) < 450 g/pc CAN 16.00 11.38 13.36 =Bogavante americano (markets) > 400 CAN 17.00 12.09 14.20 =Homarus americanus 300 g/pc France DDPEdible crab/Tourteau/ Live 400-600 g/pc 4.50 5.28 + Delivered IrelandBuey de mar 600-800 4.50 5.28 + live to FrenchCancer pagurus vivier companies

BIVALVESOyster/Huître/Ostra Live No. 3 5.00 6.77 = France prod. price Ireland/FranceCrassostrea gigasMussel/Moule/Mejillón Live - Bottom mussel 2.10 2.47 = wholesale FranceMytilus edulis 1.80 2.11 = NetherlandsMytilus galloprovincialis Live - Rope 60-80 pc/kg 2.00 2.35 = France wholesale Spain

Fresh > 20-25 pc/kg 0.85 1.00 + Spanish market Spain> 25-30 0.75 0.88 + EXW> 30-40 0.60 0.70 => 40-70 0.50 0.59 =

Mytilus chilensis IQF - shell-off, 7% glaze 200-300 pc/kg 4.40 5.17 + Italy CIF ChileCooked, IQF, mussel meat 2.59 3.04 Chile FOBCooked, IQF, half shell 2.93 3.44 for European Cooked, whole shell, vacuum 1.81 2.12 marketCooked whole shell, vacuum, 2.48 2.91with sauce

Scallop/Coquille Saint- meat, roe-on, IQF, 100% 30-40 g/pc Peru FOB PeruJacques/Vieira net weight, 10 kg bag (for EU market)Argopecten purpuratusRazor shell/Couteau/ IQF 10-12 cm 3.80 4.46 Spain CIF NetherlandsNavajas - Solenidae

January 2015

CRUSTACEANS (Cont.) January 2015

No quotations

16

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Price per kgAs stated

Reference

SALMONAtlantic salmon/ Fresh - gutted, head-on 2-3 kg/pc 5.30 6.22 France DDP ScotlandSaumon de l'Atlantique/ Superior quality 3-4 7.50 8.81Salmón del Atlántico 4-5 7.50 8.81Salmo salar 5-6 7.50 8.81

> 6 7.50 8.81Fresh - gutted, head-on 2-3 kg/pc 4.40 5.17 NorwaySuperior quality 3-4 4.95 5.81

4-5 5.50 6.465-6 5.50 6.46> 6 5.40 6.34

Fresh - head-on, gutted 1-2 kg/pc Romania/Bulgaria4-5 DDP6-7 for Eastern Europe

Fresh - Whole - Superior 2-3 kg/pc na Italy FCA3-4 4.81 5.654-5 4.97 5.845-6 4.85 5.706-7 4.50 5.28100-150 g/pc 10.10 11.86 = CIF Denmark

TROUTTrout/Truite/Trucha Whole, gutted, fresh on ice 0.25-0.4 kg/pc HUF 1402 4.38 5.15 + Hungary ex-farm HungarySalmo spp. Fillet - farmed 250-400 g/pc 7.10 8.34 = Italy ex-farm Italy

Live - farmed 500-700 g/pc 2.90 3.41 =Rainbow trout/ Live - farmed 250-400 g/pc 2.70 3.17 =Truite arc-en-ciel/ Gutted 3.70 4.35 =Trucha arco irisOncorhynchus mykiss

Carp/Carpe/Carpa Live 1.2-5 kg/pc HUF 665 2.08 2.44 + Hungary HungaryCyprinus spp. Fresh, whole, gutted, head-on 0.8-4.5 kg/pc HUF 820 2.56 3.01 - EX-FARM

Fresh, whole, gutted, head-off 0.7-4.5 kg/pc HUF 1037 3.24 3.81 +Fresh on ice - slices HUF 1227 3.83 4.51 +Fresh on ice - fillets HUF 1339 4.18 4.92 +

Bighead carp/Carpe à Fresh gutted, head-off 0.7-5.0 kg/pc HUF 694 2.17 2.55 +grosse tête/Carpa Fresh on ice - slices HUF 806 2.52 2.96 +capezona Fresh on ice - fillets HUF 919 2.87 3.37 +Aristichthys nobilis Live 1-5.5 kg/pc HUF 490 1.53 1.80 +Crucian Carp/ Live 0.45-0.9 kg/pc HUF 490 1.53 1.80 +Carassin/CarpínCarassius carassiusGrass carp/ Live 0.8-3 kg/pc HUF 630 1.97 2.31Carpe herbivore/ Fresh - whole, gutted, head-on 0.7-2.5 kg/pc HUF 890 2.78 3.27Carpa china Fresh on ice - slices HUF 1156 3.61 4.24Ctenopharyngodon idellus Fresh on ice - fillets HUF 1424 4.45 5.23Wels/Silure glane/Siluro Whole 0.8-4 kg/pc HUF 1542 4.82 5.66Silurus glanisNorth African catfish/ Fresh - whole, gutted, head-on 0.6-2.2 kg/pc HUF 651 2.03 2.39Poisson-chat nord- Fresh head-off 0.4-2.0 kg/pc HUF 910 2.84 3.34africain/Pez-gato Fresh on ice - fillets, skinless HUF 1304 4.07 4.79

Fresh on ice - fillets, skin-on HUF 1173 3.66 4.31Clarias gariepinus Fresh on ice - slices HUF 978 3.06 3.59

No quotations

January 2015

January 2015

January 2015 FRESHWATER FISH

17

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Price per kgAs stated

Reference

Nile perch/Perche du Fillet - skinless 300-500 g/pc 5.88 6.90 EU CFR UgandaNil/Perca del Nilo Interleaved, 100% net weight 500-1000 5.71 6.70Lates niloticus Fillet - skinless, PBI, IWP 500-1000 g/pc 5.96 7.00 - Spain CFR TanzaniaNile Tialpia/Tilapia du Fillet - skinless, IQF, PBO 5-7 oz 3.79 4.45 - ChinaNil/Tilapia del Nilo non-treated, 10% glazeOreochromis niloticusPanga Fillet - thawed 3.34 3.92 + Italy CPT Viet NamPangasius spp. Fillet, IQF, white - 20% glaze 120-170-220 1.83 2.15 = Spain CFR

Fillet, 100% net weight, IQF g/pc 2.30 2.70Fillet, 100% net weight, interlvd 2.26 2.65

Sturgeon/Esturgeon/ Frozen - Whole 1.5-2 kg/pc 5.00 5.87 = France CIF FranceEsturione Gutted 5-7 kg/pc 6.50 7.63 -Acipenseridae Fillets 200-300 g/pc 10.50 12.33 =A.baeri Caviar (Aquitaine) metal boxes 1 300 1 527 =

Seabass/Bar, Fresh - whole 200-300 g/pc 3.75 4.40 = Greece FOB GreeceLoup/Lubina farmed 300-450 4.30 5.05 -Dicentrarchus labrax 400-600 4.70 5.52 -

600-800 6.45 7.57 -800-1000 7.75 9.10 => 1000 8.75 10.28 +

200-300 g/pc 3.95 4.64 = Italy CIF

300-450 4.50 5.28 -450-600 4.90 5.75 -600-800 6.65 7.81 -800-1000 7.95 9.34 => 1000 8.95 10.51 +200-300 g/pc 4.00 4.70 = France CIF300-450 4.55 5.34 -450-600 4.95 5.81 -600-800 6.70 7.87 -800-1000 8.00 9.40 => 1000 9.00 10.57 +200-300 g/pc 3.99 4.69 = Spain CIF300-450 4.54 5.33 -450-600 4.94 5.80 -600-800 6.69 7.86 -800-1000 7.99 9.38 => 1000 8.99 10.56 +200-300 g/pc 4.02 4.72 = Germany CIF300-450 4.57 5.37 -450-600 4.97 5.84 -600-800 6.72 7.89 -800-1000 8.02 9.42 => 1000 9.02 10.59 +

NON-TRADITIONAL SPECIES

SEABASS/SEABREAM/MEAGRE January 2015

January 2015

FRESHWATER FISH (CONT.) January 2015

18

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Price per kgAs stated

Reference

Seabass/Bar, Fresh - whole 200-300 g/pc 4.00 4.70 = Portugal CIF GreeceLoup/Lubina farmed 300-450 4.55 5.34 -Dicentrarchus labrax 450-600 4.95 5.81 -

600-800 6.70 7.87 -800-1000 8.00 9.40 =

> 1000 9.00 10.57 +

200-300 g/pc 4.18 4.91 = UK CIF300-450 4.73 5.55 -450-600 5.13 6.02 -600-800 6.88 8.08 -800-1000 8.18 9.61 =

> 1000 9.18 10.78 +

200-300 g/pc 4.00 4.70 - Italy CIF300-450 4.30 5.05 -450-600 4.80 5.64 -600-800 6.70 7.87 -800-1000 9.00 10.57 -1000-1500 10.00 11.74 -> 1500 12.00 14.09 -> 2000 15.00 17.62 =

Fresh - whole 200-300 g/pc Greece EXWfarmed 300-400 for Eastern Europe

400-600600-800800-1000> 1000

Fresh - whole - wild 600-800 9.52 11.18 Italy CPT EgyptMediterranean 800-1000 10.00 11.74

1000-2000 11.00 12.92> 2000 12.00 14.09

Gilthead seabream/ Fresh - whole 200-300 g/pc 4.05 4.76 - Greece FOB GreeceDorade royale/Dorada farmed 300-450 4.50 5.28 =Sparus aurata 450-600 4.75 5.58 =

600-800 5.80 6.81 =800-1000 6.85 8.04 =

> 1000 8.15 9.57 =

200-300 g/pc 4.25 4.99 - Italy CIF300-450 4.70 5.52 =450-600 4.95 5.81 =600-800 6.00 7.05 =800-1000 7.05 8.28 => 1000 8.35 9.81 =200-300 g/pc 4.30 5.05 - France CIF300-450 4.75 5.58 =450-600 5.00 5.87 =600-800 6.05 7.11 =800-1000 7.10 8.34 =

> 1000 8.40 9.87 =

No quotations

SEABASS/SEABREAM/MEAGRE (Cont.) January 2015

19

Fish Species Product Form Grading Origin

Trade Name EUR USD & Area

Price per kgAs stated

Reference

Gilthead seabream/ Fresh - whole 200-300 g/pc 4.29 5.04 - Spain CIF GreeceDorade royale/Dorada farmed 300-450 4.74 5.57 =Sparus aurata 450-600 4.99 5.86 =

600-800 6.04 7.09 =800-1000 7.09 8.33 => 1000 8.39 9.85 =200-300 g/pc 4.32 5.07 - Germany CIF300-450 4.77 5.60 =450-600 5.02 5.90 =600-800 6.07 7.13 =800-1000 7.12 8.36 => 1000 8.42 9.89 =200-300 g/pc 4.30 5.05 - Portugal CIF300-450 4.75 5.58 =450-600 5.00 5.87 =600-800 6.05 7.11 =800-1000 7.10 8.34 =

> 1000 8.40 9.87 =

200-300 g/pc 4.48 5.26 - UK CIF300-450 4.93 5.79 =450-600 5.18 6.08 =600-800 6.23 7.32 =800-1000 7.28 8.55 =

> 1000 8.58 10.08 =

Fresh - whole - wild 800-1000 g/pc 6.15 7.22 - Italy FCA MoroccoAtlantic 1000-2000 8.50 9.98 -

> 2000 8.00 9.40 -Fresh - whole 600-800 g/pc 9.68 11.37 CPT Egyptfarmed 800-1000 9.57 11.24

1000-2000 11.00 12.92Meagre/Maigre Fresh - Whole - wild 800-1000 g/pc 7.00 8.22commun/Corvina 1000-2000 7.00 8.22Argyrosomus regius 2000-4000 7.00 8.22

3000-5000 5.50 6.46farmed 800-1000 g/pc 5.00 5.87 FCA Greece

1000-2000 4.93 5.79> 2000 g/pc 7.00 8.22 - CIF

SEABASS/SEABREAM/MEAGRE (cont.) January 2015

11

PRICE REFERENCE (INCOTERMS 2010) CFR Cost and Freight CIF Cost, Insurance and Freight CIP Carriage and Insurance Paid To CPT Carriage Paid To DAT Delivered at Terminal DAP Delivered at Place DDP Delivered Duty Paid EXW Ex Works FCA Free Carrier FAS Free Alongside Ship FOB Free on Board (DAF, DES, DEQ and DDU have been cancelled) PRODUCT FORM C&P Cooked and Peeled FAS Frozen at Sea H&G Headed and Gutted HOG Head on Gutted (salmon) IQF Individually Quick Frozen IWP Individually Wrapped Pack PBI Pinbone In PBO Pinbone Off PD Peeled and Deveined PTO Peeled Tail On PUD Peeled, Undeveined SYMBOLS + Price increased in original currency since last report - Price decreased in original currency since last report = Updated but unchanged price * New insertion Not updated since last issue CURRENCY RATES USD EUR Canada CAD 1.20 1.41 Hungary HUF 272.36 320.09 Norway NOK 7.72 9.07 USA USD 1.17 EU EUR 0.85 Denmark DKK 6.33 7.44 Exchange Rates: 14/01/15

13

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It can be ordered from the FISH INFONetwork:

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INFOPECHE (Africa) Tour C, 19éme étage, Cité Administrative Abidjan 01 - Côte d’Ivoire Tel: (225) 20228980 Fax: (225) 20218054 E-mail: infopeche@aviso.ci Web site: www.infopeche.ci

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EUROFISH (Central and Eastern Europe) H.C. Andersens Blvd 44-46 1553 Copenhagen - Denmark Tel: (45) 33377755 Fax: (45) 33377756 E-mail: info@eurofish.dk Web site: www.eurofish.dk

INFOSAMAK (Arab Region) 71 blvd Rahal El Meskini Casablanca 20 000 - Morocco Tel: (212) 522540856 Fax: (212) 522540855 E-mail: infosamak@infosamak.org Web site : www.infosamak.org

INFOFISH (Asia/Pacific) 1st Floor, Wisma LKIM Jalan Desaria - Pulau Meranti 47120 Puchong, Selangor DE Malaysia Tel: (603) 80649282/80649169 Fax: (603) 2078 6804 E-mail: info@infofish.org Web site: www.infofish.org INFOSA - sub-office INFOPECHE (Southern Africa) 89, John Meinert Street- West Windhoek -Namibia Tel: (264) 61279430 Fax: (264) 61279434 E-mail:infosa@infosa.org.na Web site: www.infosa.org.na

14

Food and Agriculture Organization of the United Nations Fish Products and Industry Division Viale delle Terme di Caracalla 00153 Rome, Italy Tel +39 06 5705 3288 Fax +39 06 5705 3020 www.globefish.org