Expect prices of most whitefish species to fall 1 to 3 percent in 2011, the European Commission said on Thursday as it recommended its annual guide prices.
Each year, the EC sets guide prices for seafood products based on member states’ average market prices over the previous three years. The guide prices are used to determine price support mechanisms included in legislation.
Though prices of most whitefish species haven’t yet rebounded from 2009’s drop-off, the market for seafood “appears to be recovering,” said the EC. However, consumers remain cautious and prices of imported seafood are up, which is keeping demand for fish in check, added the EC.
Prices of most whitefish species are predicted to fall between 1 and 3 percent in 2011, except for redfish, saithe and sole, which are expected to increase between 1.5 and 3 percent.
Prices of mackerel, Spanish mackerel and whole albacore are anticipated to jump between 1 and 2 percent, while prices of herring, sardines, anchovy and gutted albacore dip 0.1 to 0.2 percent. Prices for hake, swordfish and Illex squid are forecasted to increase between 1 and 2 percent, while prices of sea bream, squids and prawns drop 1 to 3 percent.
For yellowfin tuna, the market deteriorated dramatically in 2009 and prices have not yet caught up, so the EC recommended cutting the producer price 2 percent next year.
