MARKET

Tight Supply and Rising Costs Keep Prices High for Seabass and Seabream

Rome, 3 June 2025 | Rising Tide for Seabream, Modest Rebound for Seabass in Spanish Wholesale Market

Pescadería en Grecia, dorada en primer plano

Prices for European seabass and gilthead seabream are expected to remain high throughout 2025, driven by tight supply and rising labour costs-particularly in Turkey, where wage levels have now overtaken those in Greece.

Consistent and robust demand across Europe and the United States will continue to support elevated prices in the short term. Contributing factors include lower restocking efforts by producers and increased fish mortality rates linked to higher seawater temperatures.

These insights are drawn from the latest Price report published by Globefish, a division of FAO.

Turkey is set to maintain its position as the world’s leading exporter of seabass. In 2024, export volumes rose by 21%, while the value of these exports increased by 14% year-on-year. Greece recorder the most significant growth, with import volumes soaring by 97% and value by 83%. Italy and the United States also saw strong growth, both registering an 18% increase in value, whereas exports to the Netherland declined by 13%.

In the case of seabream, Turkey achieved a 28% increase in export value, despite more modest growth in volume (3%). Greece strengthened its position as Turkey’s main buyer, with import rising by 67% in value and 34% in volume.

Greece’s seabass sector also showed solid and consistent growth in 2024. Export volumes climbed by 14%, with value increasing by 13%. Italy and Spain remained the main destination, both contributing significantly. Italy’s imports rose by 9% in volume and 10% in value, while Spain recorded growth of 18% and 13%, respectively.

In contrast, Greece’s seabream exports saw a 13% year-on-year decline in volume, although the impact on value was less severe. Italy held steady, and Spain registered a slight decrease of 4%.

In Spain’s wholesale market, prices for fresh whole seabream (300-400g) continued on an upward trajectory throughout 2024, peaking at €6.90/kg in February 2025—a record high. Larger sizes (400–600g) followed suit, reaching €6.87/kg in January. Fish over 600g experienced the sharpest increase, jumping from €6.45/kg in September to €8.10/kg by December 2024.

As for seabass, prices for large-sized, farmed, fresh whole fish remained subdued through the fourth quarter of 2024, holding steady at €11.30/kg, before a modest recovery to €12.00/kg in January 2025. Medium and small sizes also saw year-end gains, rising to €7.20/kg and €5.85/kg, respectively.