EP 324 | AIRED 02/27/2017

Atlantic Salmon Prices Soar and Inventories are set to get Worse - What Should You Do

February 27, 2017 - Welcome to The Tradex Foods "3-Minute Market Insight" This is Robert Reierson and here is the seafood news for the week of February 27th, 2017.

Subscribe to our 3-Minute Market Insight

--- The Department of Fisheries and Oceans stock assessments show detrimental declines to Canada's Borealis shrimp biomass, raising concerns for the ripple effect to other shrimp markets. Kyla will touch on the East Coast fishery before we discuss upcoming Jordani expectations. --- [Kyla] DFO reduced the Borealis quota from 48 thousand metric tonnes to 28 thousand metric tonnes after a 25 percent decrease in biomass between 2015 and 2016. The Borealis market is quite soft right now due to inconsistencies in European demand and overall diminished supply across the globe indicates a firm market moving forward. Pricing is all over the map, from $5.55/lb for 250-350ct shrimpmeat in Boston to $6.15/lb for 150-250ct shrimpmeat in New Jersey. Larger sizes like the under 150ct are hitting $7.30/lb, but all offers right now are subject to prior sale given the tightened supply. Back to you Rob. --- [Rob] Last week the 2017 Pink Shrimp Review was released by the Oregon Department of Fish and Wildlife, providing indicators for the upcoming Pandalus Jordani fishery. Given the fishery's performance in 2016, scientists believe "the 2017 season will be of moderate volume (in the context of historic average) with no initial count per pound issues." We spoke with Scott Groth, the Pink Shrimp Project Leader at the ODFW, for an indepth look at what to expect for age classes this year. Scott alluded to a large year class of 2 year olds which will drive a good count per pound, like the 250-350ct. Good larval survival last year should contribute to another successful season, after 35.5 million pounds of pink shrimp were landed in Oregon in 2016. Jordani pricing has held steady for the past few months at $5.35/lb for 250-350 count and $5.00/lb for 350-500 count, but buyers should expect some sticker shock if decreasing supply of East Coast shrimp pushes demand to Jordani. --- Finally, our TradexLIVE Offer of the Week is for Sinbad Platinum 250-350ct Cooked and Peeled Shrimpmeat. These are #1 Quality, packed 4x5lb, 2016 Oregon production and ready for pick up in Vancouver for $5.35/lb. click or tap the icon above to view this offer. ----Thank you for joining me for the Tradex Foods "3-Minute Market Insight" This is Robert Reierson - “BUY SMART” and “EAT MORE SEAFOOD"

If you have a topic you'd like to hear on upcoming 3-Minute Market Insights, tweet us on Twitter @TradexFoods

Subscribe to our 3-Minute Market Insight