General trends

Good international demand and increasing prices were the main features of the EU seabass and seabream market between January and September 2006. However, from September onwards, with the new generation fish reaching the marketable size of 350-400 gr, the increased supply could not be absorbed by demand anymore, hence the gradual decline of prices.

According to GLOBEFISH industry correspondents, prices of seabass dropped considerably for all size grades from October 2006 to January 2007. On the other hand, even if the overall trend of seabream prices was a declining one, prices of small grades were relatively more buoyant than prices of larger grades. As a result, in January 2007, seabass (normally more expensive than seabream) became a cheaper option in several EU markets.

Italy: saturated market

Italian imports of seabass and seabream declined by -12 percent between January-October 2005 and January-October 2006, with seabass imports experiencing -14 percent decline and seabream imports experiencing -11 percent decline. However, Italy remains the main importer of seabass and seabream in the EU. According to EUROSTAT data, Italian imports represented 52 percent of total EU imports of fresh seabass and seabream in 2000, the same ratio being 40 percent in 2006 (January-September figures only).

Spain: declining imports

Spanish imports of seabass and seabream declined from 12 900 tonnes, equivalent to €59.8 million, in January-November 2005, to 11 280 tonnes, equivalent to €52.9 million in January-November 2006. Total seabass import volumes declined by -9 percent and seabream import volumes declined by -16 percent.

France: market is still growing

French figures suggest an increase in overall seabass and seabream imports by 8 percent between 2005 and 2006 (January-November period). Greece remains the main supplier of both species groups to France. In terms of value, total seabass and seabream imports increased by 14 percent between 2005 and 2006.

The bass and bream markets in Italy and, to a lesser extent, in Spain, seem to have reached their saturation point in 2006, with imports declining, perhaps as a result of firmer prices during the summer period. This situation was somehow anticipated by the modest growth of imports in 2005 from 2004 levels. The French market is still growing, albeit at a relatively low rate.

Under normal conditions, demand and prices should start picking up as the warm season approaches. Should excess supply persist, producers should try harder to promote and diversify their range of products in order to reach other EU markets, such as those of central and northern Europe. Consumers in those markets generally prefer their fish to be cheap and filleted, or processed in a more sophisticated way, but anyway easy to prepare and eat.

Major bottlenecks to the penetration of seabass and seabream in central and northern Europe could be generated by the increasing costs of filleting and value-adding and by the competition with cheaper whitefish such as tilapia and pangasius. On the other hand, the current low cost and abundant supplies of seabass and seabream, as well as the growing internationalization of several major producing companies, could possibly help the EU-wide penetration of these fishes.

Greece: Greek-based Company goes international.

The Greek company Nireus SA proceeded through its subsidiary company Nireus International Ltd. (Predomar) to the purchase of the Spanish company Preengorde de Doradas para Maricultura SL. The Spanish company holds a hatchery unit and a juvenile pre-fattening unit with a total capacity of 20 million pieces per year. Through this acquisition the presence of Nireus Group is reinforced in Spain in the area of production and sale of juvenile seabass. Therefore, an increase in juvenile sales is expected among the fish farming companies of that country.

Spain: Acuicola marina invests EUR3.6 million in expansion.

Spanish fish farming firm, Acuicola Marina, is to spend EUR 3.6 million (US$ 4.59 million) on the construction of a second marine farm, the equipping of the processing area in its factory and the purchase of a freezing chamber. The new farm will be used for bream, squid, croaker, seabass, oysters and mussels. The firm currently has facilities dedicated to bream and seabass. The firm hopes to double its 1 500 tonne volume of business in 2005 to 2008. The firm is currently launching its new brand, Frescamar.

By Camillo Catarci (GLOBEFISH)

© 2007 FAO GLOBEFISH