Because wild-caught seabass (Dicentrarchus labrax) has long been a high-value, high-demand fish among consumers in many European markets, the strict measures that have been placed on EU fishing fleets to protect stocks have seen prices soar in recent months. The situation has also sparked increased demand for farmed products.
With scientists identifying a need to drastically reduce Europe’s bass catch, a raft of regulations have been imposed on bass fishermen this year, such as new closed fishing areas, reduced limits on the amount that commercial fishing boats are allowed to catch and an increased minimum landing size (MLS) of 42cm for the northern stock (up from 36cm).
Further measures are expected in 2016, including a similar MLS increase for the two southern stocks of seabass in Iberian waters and the Bay of Biscay. In this regard, the European Commission is awaiting more robust scientific advice on these stocks, which will feed into new proposals.
The contraction of the wild bass supply has driven prices upward. In France – one of Europe’s most important markets for the fish – retail prices had reached EUR 25.49 (USD 27.08) per kg by the end of the third-quarter of this year. In 2012, the price was a much more modest EUR 15.90 (USD 16.89) per kg.
By comparison, farmed bass sold in French retail was at EUR 14.63 (USD 15.55) per kg in Q3 2015 and has averaged EUR 14.18 (USD 15.07) per kg over the past three years. Prices of the farmed variety have, though, been on an upward trajectory in this and other markets this year, including in production countries like Italy and Greece.
The average retail price of bass in Italy for the first three quarters of this year was EUR 11.67 (USD 12.40), 1 percent and 2 percent higher than the same period of 2014 and 2013, respectively. The highest price was registered in September when it reached EUR 12.52 (USD 13.30), a 3 percent increase year-on-year.
In June, bass achieved its highest average price in Greek retail for three years at EUR 7.72 (USD 8.20) per kg, up 16 percent compared with the corresponding month of 2014.
The higher prices have been achieved despite a slight increase in European production, and many people close to the industry are attributing this upward price trend to the depleted supply of wild-caught bass. The situation has been heightened further by the Marine Conservation Society’s (MCS’s) decision to downgrade all wild-caught seabass on its FishOnline guide, placing it on the “Fish to Avoid” list – its lowest (red) rating – in recognition of the precarious state of the stock. As a result, more and more buyers and suppliers have been seeking alternative products.
According to the Federation of European Aquaculture Producers (FEAP), Europe’s farmed bass production totaled 148,367 metric tons (MT) last year, up from 144,417 MT in 2013. Turkey was Europe’s leading producer with 74,653 MT, up from 67,912 MT in 2013. Its output has doubled since 2005.
The prices for wild-caught and farmed gilthead seabream (Sparus aurata) have also climbed this year. In Greece, the retail price for wild bream averaged EUR 21.80 (USD 23.17) per kg in the first three quarters of this year. For the same period, farmed bream averaged EUR 6.51 (USD 6.92) per kg, with the highest price of EUR 7.35 (USD 7.78) per kg again registered in June.
Because Greece is the No. 1 producer of farmed bream – harvesting 71,000 MT last year, its retail prices are traditionally lower than in other countries. Spain and Italy have long been important markets for the product and this year the average retail prices paid per kg peaked for the former at EUR 9.59 (USD 10.19) and EUR 11.69 (USD 12.42) for the latter – both in September. These were the highest prices paid in more than two years.
FEAP put Europe’s total farmed bream production at 146,467 MT last year, up from 145,788 MT in 2013.
As Europe’s production of juvenile bass and bream has remained at less than 1.1 billion fish (combined) for the past two years, it’s expected that the harvests of market-size fish will remain at current levels in the short-term, which will probably result in further price rises.
