EP 187 | AIRED 06/16/2014
Yellowfin Sole the Topic of Interest for North American Buyers, Flounder Update
June 16th, 2014 - Welcome to The Tradex Foods "3-Minute Market Insight" This week in the Tradex Foods 3-Minute Market Insight, Rob Reierson discusses Limited Yellowfin Sole the Topic of Interest for North American Buyers, Flounder Update...
--- Yellowfin sole has been a topic of interest lately for North American buyers.
Yellowfin is processed in Asia to service both the retail and food service needs as it's an abundant species, is high quality, and is an economical seafood option.
The catch is usually headed and gutted or frozen whole round at sea and then shipped to Asian countries for further processing. The National Marine Fisheries Service reports the Bering Sea and Aleutian chain catch of yellowfin to date at 84,697 tonnes against a quota of 184,000 tonnes.
Processors prefer winter fish for texture and yield as summer or post spawn fish have a somewhat softer texture and have higher natural water, both of which contribute to lower yield.
Production is always busy at every plant from Septemeber to January before the Chinese New Year Holiday, which has caused cold storages to hold high inventories since the raw material season began in February.
Many of the plants do not have much finished product because they are waiting for orders to begin production for customers that require various specs and packaging. We have heard that the market is slow but it is expected to pick up in July or August, then the raw material will start freeing up space at the cold storages.
Current pricing is similar to this time last year at $1350 /mt for the 100-200g size, $1400 /mt for the 200-350g size, and $1650 for 350g sizing.
Finished products in the European market are still extremely low, and the North American market isn't picking up either. Buyers don't seem to want to purchase, even from plants that are willing to sell at breakeven price. Hopefully by July or August this situation will change.
The market for big sizes of flounder has also shifted, with decreased demand for larger sizes like 3-5oz and 5-8oz. Larger sizes are typically difficult to purchase, but the sitatuation appears to have reversed this year and processors are having problems selling big size fillets.
---Thanks for joining me for the Tradex Foods
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