2011 Global Pelagics Sector: Supply Down, Prices Up

Salmonids Cod Sustainability +4 more

5 March 2012, at 12:00am

GLOBAL - Bord Bia recently commissioned research from Norwegian based fish specialists Kontali Analyse, to provide an overview of global trade in relation to pelagic species, reports Annette Kenny, Food and Beverage Division, Bord Bia Irish Food Board.

by Lucy Towers

Some of the key findings are as follows:

80 per cent of all cod caught globally is consumed in Europe
50 per cent of all Alaskan Pollock caught globally is consumed in Europe
40 per cent of all Hake caught globally is consumed in Europe
50 per cent of global farmed Salmon and Trout is consumed in Europe
50 per cent of all Herring caught globally is consumed in Europe
45 per cent of all Mackerel caught globally is consumed in Europe

There has been an increasing trend in prices in all the pelagic markets. The total supply of pelagic species was generally down in 2011, even though the supply of mackerel from Iceland and the Faroe Islands is increasing.

Overall this is probably the main explanation for the observed rise in prices. Atlantic herring is up 60 per cent, while other products are up approximately 15 per cent.