February 12th, 2018 - In this week's episode we will discuss Flounder production and shortages. As the 2018 Alaskan groundfish fishery unravels, harvest totals indiciate Flounder shortages may still be on the horizon for the next several months.
Raw Materials have skyrocketed since we saw shortages in September last year. In October, Raw Materials were around $1900 per metric tonne for medium sized sole, up from $1600 the year prior. Vendors state that sole raw materials have now reached $2200 per metric tonne but there is no fish available for production. "A" season in Alaska will set where the Flounder market will be this year, but without decent harvests in "A" Season we will see a shortage in the twice frozen market through until August or September.
Speculations on where the fillet market will be after Chinese New Year are between $3.00 and $3.05 per pound on 3-5oz skinless boneless IQF fillets. Domestic inventories are available on product from the beginning of last season before the market slowed down, but once stocks deplete, buyers will be hardpressed to fulfill contracts. Our suggestion to buyers is to keep your eye on the market and look ahead as far as possible on inventory needs for the upcoming months, new Chinese production is not expected until the middle of April, if at all.
Our TradexLIVE offer of the week is for 1-3lb Sockeye Salmon fillets. We have 5,000 lbs of our premium Sinbad Platinum branded Sockeye fillets available for pick up in Vancouver or in Seattle at $7.40/lb USD.
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