There are some signs of a pickup in seafood prices although increases appear to be more at raw material level and less at retail level where European chains continue to focus strongly on price as a competitive measure. In France, retail prices have become a political issue with distributors promising a series of grocery price reductions for the autumn. Ofimer has already reported an ave|age decline of 2% in French retail seafood prices for the first half of 2004. Further back the disibution chain, several supply related price increases are evident. The new mackerel season has got off to a strong start with Norwegian prices up at least 20% on the same period last season. Herring prices in Norway are also well up on last year's levels. In the groundfish sector, prices for north Atlantic species remain firm (although with good B season landings, Alaska pollock fillet prices appear to have stabilized). Reduced stock levels are starting to push farmed turbot prices up after several months on a downwardtrend. Farmed salmon prices have also firmed this month. Supply constraints have yet to be translated into significant price increases in squid and lobster markets although this situation could change, at least for lobster, during the fourth quarter. European shrimp prices in general remain low although declines in landings of coldwater shrimp have resulted in price increases in this segment. Finally, the upward trend in frozen tuna prices, which was interrupted in Europe during August/September, couldresume if the current tight supply situation continues. However, canners, as well as other seafood processors, are likely to face difficulties in passing on raw material increases in the current European retail climate. Suppliers may find some consolation in certain east European markets, notably Russia, where seafood demand and prices are reported to be strong. Russian food prices wore up 7% during the first half of this year.
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