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Fishery News

Indian surimi producers face challenges

India , Nov 7 39 Views 0 Comment
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“Our business continues to face significant headwinds,” said a sales manager at a leading Indian surimi producer. “Although prices for Alaska and Russian pollock have increased this year, the increase in Indian surimi prices has been limited.”

He explained that the price of pure Indian Itoyori surimi is currently set at $2.80/kg for SSA grade (gel strength above 1000), $2.70/kg for SA grade (gel strength between 800-1000) and $2.60/kg for FA grade (gel strength between 600-800). This represents a modest increase of $0.10/kg compared to the end of the previous season in May.

However, this increase is very small considering the significant price reduction of about USD 1.00/kg compared to the 2022-23 season, mainly due to increased Russian surimi production.

Prices remained stable from August to October and no significant fluctuations in shipments are expected next month, he added.

Traditionally, Indian surimi prices peak in August when the season starts, gradually declining towards the end of the year. However, he pointed out that the rise of Russian surimi has significantly changed this trend over the past two years.

“Marketers have reported a decline in pollock surimi production in Russia and Alaska this year,” he said. “Russian pollock surimi competes directly with premium Itoyori virgin surimi, and despite stronger demand, prices have not increased as buyers from China and Japan are unwilling to accept higher costs.”

Feedback from potential customers at the Qingdao Expo showed that Indian product prices were rated higher than those of Vietnamese products, making it difficult to maintain competitiveness in the international market, the executive said.

Another representative from an Indian surimi producer highlighted that the catch of surimi raw materials such as Itoyori and croaker has dropped by 40% year-on-year since the fishing season began in August.

He said the change was due to fishermen opting for more profitable fish such as cuttlefish and squid, which offer better profit margins.

The price of average Itoyori mixed surimi currently ranges from US$2.20/kg for the 500 to 700 gel grade to US$2.05/kg for the 300 to 500 gel grade. 

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