CURRENCY exchange rates have had some impact on groundfish prices, as the US dollar hit the lowest level in years against the Euro and other European currencies. US dollar prices have gone up slightly, but most of the currency changes will have to be absorbed by exporters.

Supplies have been varied, and lower supplies of Norwegian cod resulted in price rises for boneless, skinless cod fillets from Norway and Poland. Over the past year, boneless and skinless fillet prices have increased by about 20%.

Iceland is also benefiting from this development - prices for Icelandic fish have increased by 10% in the last 12 months.

The hake market in Spain is marked by tighter supplies and rising prices. The value of Spanish hake imports rose by 14% last year, and this trend is continuing. So far this year, Spanish hake import volumes have decreased by 12%, but the import value has risen by 6%.

Spain is importing more hake from Namibia and South Africa and less from Argentina and other countries.

There has also been a sharp decline in Italian hake imports from South America.

During the first five months of 2007, imports from Argentina fell by 25% by volume, from Uruguay by 38%, and from Spain by 12%. Imports from Namibia were up 21% and from South Africa up by 3% by volume. France is also importing more from South Africa.

In spite of this development and the tighter supplies, hake prices in Europe have weakened in 2007.

The US market for marine groundfish is strengthening, in spite of continued growth in tilapia imports. Total imports of frozen fish blocks for the first five months showed a healthy 28% increase by volume. Imports of Alaska pollock particularly increased, from 8974 tonnes in 2006 to 11,732 tonnes in 2007. Prices have also gone up, but there is now a danger of consumer price resistance.

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