EP 286 | AIRED 05/30/2016

Pacific Cod Pricing on the Rise, Shorter Finished Goods, Higher Pricing in North America

May 30, 2016 - Welcome to The Tradex Foods "3-Minute Market Insight This is Robert Reierson and here is the seafood news for the week of May 30th, 2016.

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--- Pacific Cod pricing has been on the rise since January and there doesn’t look to be an end in sight. Wholesale pricing for P. Cod out of Vladivostok have skyrocketed and some of the highest pricing over the past five years are being recorded. Word on the street is that Russia will be keeping more fish for domestic use so Russian raw materials destined for processors in China will be shorter supply this year than in recent previous years. This will evolve into a potential short finished goods supply which will translate to higher Cod fillet and loin pricing in North America. --- Onto the Once Frozen Cod Market, Most primary processors in Alaska are extremely tight on inventories right now and much of which is mostly the smaller 4-6oz / 8-16oz fillets. In fact, only a few suppliers actually hold more than truckload quantities of all four sizes. Pricing for P. Cod fillets out of Alaska have increased from one year ago by close to $0.50 cents per pound where current pricing for 8/16oz Shatterpack Cod out of Seattle is between $3.40 to $3.60 per pound. If you’re looking for Pacific Cod - supply is quite a “hit and miss” depending on which suppliers you’re asking. --- Fortunately Tradex Foods is a global supplier of Cod and our Offer of the week is for MSC Certified Pacific Cod Fillets. These are 8-16oz, Single Frozen, Boneless, Skinless and Wild Caught in Alaska. We have 40,000lbs available at $3.60/lb FOB Seattle with discounts available for 20,000lb plus orders. Click or tap the icon to view this offer. --- The 2016 Total Allowable Catch for Pacific Cod for Bering Sea Aleutian Islands combined is about 310,000 Metric Tons. The total harvest to date for both regions in Alaska is about 45 percent of the TAC totalling just under 140,000 Metric Tons caught. Fishing efforts during the 2016 “A” season in Alaska started out in January with sparse fishing and the fish that were initially found were small sizes. In late February and early March some processors saw better harvest and larger sized Cod while other processors were forced to raise prices in the market as larger fish in any strong numbers continued to be elusive. As we just reported here on the 3-Minute Market Insight - both Pacific and Atlantic Cod prices are on the rise. Our recommendation here at Tradex Foods is to buy your current and future requirements now. ----Thank you for joining us for the Tradex Foods "3-Minute Market Insight" This is Robert Reierson - “BUY SMART” and “EAT MORE SEAFOOD

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