EP 196 | AIRED 08/18/2014

The Fraser River Sockeye, Definitely a Buyers Market, Russia Salmon 2 Weeks Late

August 18th, 2014 The Fraser River Sockeye opened for 3 hours last week and returns were fairly Strong. Fresh Canadian Sockeye is selling between $3.50 & $3.75 but these prices have been dropping.

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--- The Fraser River Sockeye run opened for 3 hours last week and returns were fairly strong, most fishermen caught between 150 and 200 fish.

Catch estimates remain unchanged after the opening - the Department of Fisheries and Oceans has forecasted close to 23 million Sockeye will return to the River.

As we mentioned in a previous episode, warmer waters and low tides are threatening the return of the fish. Some fishermen claim the super moon has caused the relatively slow start.

However, today marks the next opening for gill netters in the Fraser River, and Fisheries representative have reported that nearly 50 percent of the run has already migrated from the ocean.

1.8 million salmon are expected to return to the Fraser River during the early summer sockeye run, a very good sign for fishermen during this next opening.

Fresh Canadian sockeye is selling between $3.50 and $3.75 /lb but these prices have been dropping.

We have been told that prices seem to drop $0.10 /lb every 2 days. One of the reasons for these pricing inconsistencies is the different catch areas. The Johnston Straits, the mouth of the Fraser River, will yield a great quality product.

As you move up the Fraser, the quality could deteriorate. If price is your goal, the later fish should yield a better price point. However, to avoid any potential quality headaches, the first fish out has proven to be the best quality.

As this week progresses, the opportunity is still there to put a high-end quality salmon for your center-of-the-plate protein applications or for retail. It's certainly becoming a buyers' market on Sockeye in 2014.

--- Now for an update on the Russian salmon season. Locals are beginning to show concern about 2014 landings as the season has been developing quite slowly.

Salmon fishing was 2 weeks late this year and processors are having difficulty procuring big quantities of raw materials. Low quantities of Pinks from the Sakhalin and the recent Russian sanctions against foreign fish are having a strong impact on Salmon pricing.

Buyers are saying the price increases are unworkable and out of market.

There is pressure in Kamchatka too - fishermen caught less fish than last year and for the last couple of days prices have increased 20-30 percent in the domestic market. Overall, prices on the Russian domestic market in Vladivostok are spiking.

Many of the Russian producers are withdrawing pink and chum offerings, and are holding limited inventory in their own cold storages.

Another sign of a slow salmon season is the dropping price of freight from Kamchatka to Vladivostok and/or Pusan.


---Thanks for joining me for the Tradex Foods "3-Minute Market Insight" This is Rob Reierson - “BUY SMART” and “EAT MORE SEAFOOD”

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