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January is generally a quiet month for fisheries and aquaculture products sales in Europe, after the strong Christmas and New Year sales. Collective catering is solely responsible for some limited sales compared to a very reduced demand from retailers and caterers in Europe.
As normal in the period of the year, the main importers and brokers have already completed their activities for the year-end sales, while wholesale markets will increase in activity over the coming weeks as restaurant menus and fish counters increase their festive range in preparation for Christmas and the New Year. The festive end of year sales season will be more concentrated as the two main festivities will be on a Sunday.
In the course of November, the euro has recovered in value versus the US dollar, which makes European traders more competitive in the world market. However, high inflation and overall uncertainty in the market are leading to slow demand. Typically, November is the primary month for purchases of seafood for the festivity period, but this year traders are reluctant to buy, and the overall demand for all primary products is slow, leading to lower prices...
The situation in the European market continues to be difficult. The high inflation, decrease in product availability due to high energy cost and the war in Europe are all impacting trade. In addition the EUR is now lower than the USD. The result of these factors is a perfect storm. Extremely high energy costs for consumers are limiting purchasing power with reduced demand for seafood and restaurant consumption.
The 35th session of the FAO Committee on Fisheries ended on 9 September. It was a hybrid event attended by 850 delegates. Among the key outcomes were the endorsement of a new COFI Sub-Committee of Fisheries Management, the endorsement of the new Voluntary Guidelines for Transhipment, the support for global aquaculture development and calls for the completion of the Guidelines for Sustainable Aquaculture.