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Gallant Ocean Newsletter Jan 2023

What are you expecting for 2023? World Peace is desired by everyone. Could we see end of war in 2023? Beside safety we may ask for enough wealth to live in times of inflation. Food is one of the basic necessities of life. Stable supply and good price are most needed. Gallant Ocean Group has the responsibility to keep market stability and would like to share some news of raw material. Tilapia: Farming and supply will get more limited. Due to dropping buying price from international market farmers can’t stand too low price when they have been suffering increasing costs of feed and electricity. Buyers may need to consider if current inventory would be enough until May. Squid: Illex Squid season just got started. In the beginning of season the catching is better than expected. Most inventories of last season are still controlled by some powerful suppliers and will be bargained among catching of new season. Shrimp: The growing farming will bring new challenge of excess supply. Buyers may get benefit from dropping import price. China market will be a key for whole industry and following trend. Everyone is looking at coming demand of China market which will decide how price will go on. Soft Shell Crab: For the main markets such USA and EU sales are still quite slow and with high inventory. In origin farmers keep reducing farming. When price edge is going to bottom, we may see possible reverse in April 2023. Before that there is continuing tug of war between buyers and suppliers. The excess demand is obvious in market. The business cycle will be more expected in Q3. Now it is time to review own inventory and to keep reseraching suitable price for covering temporary consumption shortage and market share. Written by Pilar Tsai Gallant Ocean Group
2023-01-12
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