EP 1 | AIRED 10/04/2010

Episode 1: Monumental Fraser River Sockeye Salmon Run (Pilot)

October 4, 2010 - Hello and Welcome ---My name is Robert Reierson - President & CEO of Tradex Foods. At Tradex Foods – we believe knowledge is power. The atmosphere in the seafood industry is CONSTANTLY changing. To be successful – our company needs to stay on top of all the indicators that affect the economics of this business. As a result – we invest heavily in research and reporting. We want to share this knowledge with the business communities that we touch. …so - Beginning today – we are launching a weekly webcast - The Tradex Foods - "3-Minute Market Insight" – a Monday morning “pulse report” for seafood purchasers. We invite you to join us and start YOUR week with a competitive advantage.

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In the news this week …. the monumental Fraser River Sockeye Salmon run may not bring the lower prices that so many folks had predicted. It is true that the 2010 Fraser River Sockeye run exceeded expectations. Sockeye returns were almost four times the initial forecast – an incredible feat after last year when 11 million fish were forecasted, but only 1.5 million returned. This years’ high supply has been countered by an increased production of canned products – a factor that is keeping prices for H&G fish from bottoming-out. The other factor contributing to stable Sockeye prices is the impact on product quality. Fish packing plants and processors were unprepared for such a large harvest and the lack of processing space and ice has contributed to large amounts of spoilage and mediocre flesh quality. Consequently, the large number of poor quality products is further impacting prices – pushing them higher than expected. In other news… it is an off year for Fraser River Pink Salmon. Pink Salmon populations are highly variable and cyclical in nature. Fraser River Pinks show up every odd year. Returns were strong all along the coast in 2009 and the Fraser River run surpassed forecasts by roughly 40%. This year, the absence of a Fraser River run - combined with reduced global salmon supply AND general increasing price trends over the last decade – has translated into increased prices. Chum Salmon forecasts for the Puget Sound, on the other hand, are 34% higher than in 2009. This may put downward pressure on prices for fish from this region – BUT - reduced global salmon supply will prevent them from dropping too much. Thanks for joining me for the first edition of Tradex’ "3-Minute Market Insight" This is Robert Reierson - “BUY SMART” and “EAT MORE SEAFOOD”

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