EP 336 | AIRED 05/22/2017

3 Reasons why Atlantic Salmon Markets are Volatile

May 22, 2017 - Welcome to The Tradex Foods "3-Minute Market Insight" This is Robert Reierson and here is the seafood news for the week of May 22nd, 2017.

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--- Atlantic Salmon is a difficult market to predict, with market volatility from currencies, global economies, and even oil prices. We interviewed Damien Claire, President of Platina Seafood, in Miami Florida last week for a more indepth look at global markets and supply trends. [clip 2:35-2:50, 4:32-5:37] As Damien mentioned, many were expecting a price drop by the Fall. Chilean pricing is down about 5 percent since January, at about $5.75/lb for Fresh fillets in Miami. Norwegian fresh pricing is strong as mentioned, with a spike in the last two weeks on raw materials. With anticipated price drops on the horizon, expect inventories to clear quickly, which should help stimulate demand again. Also of note is the recent diversification of farmed salmon markets. Damien explains how this could effect Norwegian exports to China. [INTERVIEW] Norway and China are working on a free-trade deal after a six-year hiatus back in December. Current import tariffs into China in the range of 20 percent pressure competitiveness on Norwegian products. The Norwegian fisheries minister recently signed an agreement to recommence seafood trade with China, so import delays should normalize within the summer months. In the meantime, buyers in North America can expect good pricing on farmed atlantics for the next 3 to 4 months until inventories clear. --- To wrap things up, our TradexLIVE offer of the week is for IQF 4-6oz Sinbad Pollock fillets. These are #1 quality fillets packed 4x10lbs and we have 20,000 lbs available in Boston for $1.24/lb USD. 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"

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