3-Minute Market Insight
EP 373 | Aired 02/12/2018
Is There a Flounder Crisis?

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.

SINBAD Sole/Flounder
The three main sole varieties used for Flounder production in China are Flathead Sole, Yellowfin Sole, and Rock Sole. The quotas for Yellowfin and Rock Sole in the Bering Sea for 2018 were set at 154 thousand and 47 thousand metric tonnes, respectively, the same as last year. If we compare the same time frame year-to-year between January 1st and the first week of February for these three items, harvests are down 31 percent at 8.7 thousand metric tonnes this year. A five year trendline shows yellowfin harvests decreasing annually, which we can see reflected in the once and twice frozen markets in North America.

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.

Trump : Seafood : Climate Change

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.

TradexLIVE Offer Of The Week
TradexLIVE Offer Of The Week

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.

Previous Episodes:

Copyright © Tradex Foods Seafood News

News | inFINite Model | School of Fish | 3-Minute Market Insight | TradexLIVE