Image: Revista Puerto / FIS

Exports rise due to volume

The CAPECA report shows an increase in foreign sales for the first quarter of 21% in tons and 15% in foreign currency. The price of hubbsi hake improves, the value of whole shrimp continues to plummet and a drop in the price of tails is offset by volume. Squid maintains its value despite the scarcity of resources.

Photo: Revista Puerto

The report prepared by CAPECA based on official data provides an overview of the sales of the main products in the first quarter of 2023 and compares it with the same period last year. Increase in exports more in volume than in dollar income. 21% more tons were sold compared to the first quarter of 2022 and a 15% higher income was generated in foreign currency, which shows that this increase is based on volumes and not on a better price for Argentine fishing products. Hubbsi hake and king crab are the only resources that have improved in value, while the price of whole shrimp continues to fall without finding its bottom. There was also a drop in prices for colas, although to a lesser extent, and a substantial increase in demand. The return of China to the position of the main buyers is exciting with the reactivation of a very important market that had been asleep for several years.

Hubbsi hake

Hake fillet sales in the first quarter reached 12,500 tons, which represents an increase in demand of 10.7% compared to the same period last year. Regarding foreign exchange income, the increase was 12.5% higher thanks to a rise in the price of almost 2%, which placed it at an average of 3,262 dollars per ton.

Source: Stockfile FIS

The main destination market par excellence for this product is Brazil, which absorbed 46% of the total exported, with a volume similar to that of last year of 5,800 tons; The same percentage increase was obtained for income in dollars, with a price that was above the average. Spain is the second most important market, but it is far behind Brazil, representing 14% of the total demand in volume and currency. In this market the price was below the average.

For frozen hake in products other than filet, sales increased 13.6% in volume and 16.4% in value thanks to a 2.5% price increase, which stood at $1,564. A total of 6,300 tons were exported and Russia was its main destination, although it had a drop in demand of 8.5% while South Africa became the second most important market with a growth of 436% in demand.

Shrimp

The whole shrimp continues to maintain its downward trend, in volume the drop in demand was 17% and in foreign currency it was even greater, in the order of 30% as a result of a 15% drop in price that left the ton in the first quarter of 2023 at $5,268.

Source: Stockfile FIS

Spain, its main market, reduced demand by almost 54% and the price was below average. Although the demand from China in volume was almost half of what Spain bought, it had an increase of 629%, being a positive sign of the reaction of a market that was asleep, and the price, although as in all markets placed downwards, it was above the average value. In total, 8,154 tons have been exported.

Shrimp tails, although they suffered a 4% average price drop, leaving it at $7,478 per ton, show a sustained rise due to the export volume that increased by 61.7% compared to March 2022; the collection in foreign currency increased by 55% as a result of the drop in prices. In total, 26,235 tons have been exported.

China has recovered interest in this product, after years of low demand. In this first quarter, it required 8 thousand tons, which represents a 270% increase in exports to that destination; however, the price was about $500 below the average price. Spain, which had been leading the demand, has been in second place despite the fact that it required 66% more glues than last year and in this case the price was about 200 dollars higher than the average. Thailand continues to increase in volume of purchases and this year it ranks above Peru in volume; the price in both markets is below average.

Squid

Source: Stockfile FIS-->

In a year of low catches, illex squid has at least increased sales: in volume and currency they have increased by 16.6% in relation to the same period last year, given that despite the scarcity of resources, the price has not changed. In total, 51,431 tons have been exported and South Korea is the main destination country; Their purchases represent 28% of the total exported, but the price at which they have been sold is below the average price, which is $2,105 per ton. China this year seems to have reactivated the purchase of various products, given that demand for illex increased by 43% compared to last year. You also paid for less than average price.

King Crab

<-- Photo: INIDEP

King crab is one of the few products that had a considerable price increase, in the order of 15%; but sales in its main market, the United States, also fell considerably. This generated a drop in total demand of 41% in volume and 32% in collection, thanks to the help that the price increase meant. In total, 360 tons have been exported.

In conclusion, the report highlights the sustained drop in the price of whole shrimp that began in July 2022 and still seems to have found no floor. The delay in the start of the season in national waters outside the closed season gives some hope to traders to raise the value, something that can be measured these days at the fishing fair that takes place in the Spanish city of Barcelona.

Source: Revista Puerto 

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