EP 303 | AIRED 10/24/2016
October 24, 2016 - Welcome to The Tradex Foods "3-Minute Market Insight This is Kyla Ganton and here is the seafood news for the week of October 24th, 2016.
--- It's a breath of fresh air for Chum Salmon Buyers as all indicators point to a record breaking run on the West Coast of Canada and the USA. Chum salmon fishing opened in the Puget Sound on October 2nd and will continue until the week of November 20th in the southern Sound. Forecasts for all areas are just over 1.18 million Chums, which is 20 percent higher than the forecasts in 2015. Many Plants already report strong landings in both Washington and British Columbia. We have heard of bidding wars for processors on the west coast, with Boats Prices ranging between $0.90 to $1.40 in the Round, which is about $1.22 to $1.89 for headed and gutted Chums. The market is very active at the moment as buyers scramble for salmon after disastrous landings in Alaska. The Prince William Sound Salmon season summary was released last week, with numbers described as "dismal" across most salmon species. 3.43 million chum salmon were harvested, which parallels pre-season estimates from the ADF&G. As we all know by now, Pink and Chum salmon harvests in Bristol Bay were record lows this year, leaving buyers empty handed for program business. Current pricing on skin-on Chum Fillets from the Puget Sound range from $4.10 /lb for IQF to $4.20 /lb for IVP. To compare, Alaskan Chum Salmon pricing hit $4.25/lb in Seattle for IVP Good Meat Colour 1-3lb fillets towards the end of the season. --- Our TradexLIVE offer of the week is for Sinbad Platinum Chum Salmon Portions. We have #1 quality, North American production, boneless, skinless 6oz and 8oz IVP Portions available in Vancouver for $4.90/lb USD. Click or tap the icon above to view this offer. --- Finally, just a quick note on the Hokkaido Chum Salmon market. Fall chum catch in Hokkaido is 30 percent less than harvests this time last year, at 65,000 metric tonnes. Very few plants are purchasing Chum Salmon from Hokkaido right now as there is almost no demand in China at the moment. Furthermore, price points surpass North American and Russian production at $3,800 per metric tonne. All twice frozen Chum production will be from North America and Russia for the remainder of the season. ----Thank you for joining us for the Tradex Foods "3-Minute Market Insight" This is Kyla Ganton - “BUY SMART” and “EAT MORE SEAFOOD"
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