EP 256 | AIRED 10/19/2015
Small Pollock Size Creates Mince Market Opportunities; Salted Cod Halted to Brazilian Market
October 19th, 2015 - Welcome to The Tradex Foods"3-Minute Market Insight"
This is Robert Reierson and here is the seafood news for Monday October 19th, 2015.
This is Rob Reierson and here is the seafood news for Monday October 19th, 2015.
--- El Nino strikes again, as the California Squid Fishery dries up.
Pacific Loligo Squid have been dramatically impacted by the warm water effects of El Nino.
The California Coastline is a hot spot for El Nino, which is set to get worse in the winter months ahead.
--- The Loligo fishery started strong, but as the squid began to move to cooler and deeper waters, many fishermen were out of luck.
Around 30,000 metric tonnes have been caught in California so far, leaving 85,000 metric tonnes ~ 65 percent ~ of the quota remaining until March 2016.
When fishing began to slow down, only smaller sizes like the 12-14pc / LB were harvested.
Larger sizes have been seen in the Northern regions near San Francisco, but not recently.
--- Current squid prices are on the incline if you can find product. Orders were taken at $1.08 / LB for 1x10kg packs delivered to Europe, which is expected to rise.
--- European Customers are scrambling to secure Squid inventories after the low landings in California and the ealy shut down of the Patagonian squid fishery in the Falklands and Argentina left them short.
The Patagonian Fishery runs July to September, but closed early September due to poor catch.
--- Our TradexLIVE offer of the week is for Sinbad Platinum IVP Coho Salmon Fillets - #1 Quality, Trim C, and Good Meat Color.
This product is packed 1x25lb in Vancouver with 20,000 lbs available at $4.05 / LB USD.
Click or tap the icon above to view this offer.
--- This isn't the first time that El Nino has shifted squid ecosystems.
Humboldt squid migrated North in the late 1980s, becoming crab bait for Oregon fishermen.
Displacement brings new market opporunities as the fishery shifts, but this doesn't happen overnight.
--- Many Californian Squid processors have actually closed their doors, but other larger fishering companies are optimistic for the winter months to bring cool waters back to the region.
In the meantime, the market is on stand-by as the Wait List for squid customers continues to grow.
We will give another update once the Squid start to return to the Californian Coast.
----Thank you 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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