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3-Minute Market Insight

EP 419 | AIRED 01/07/2019

Shaky Start to Alaska Pollock Season

January 7, 2019 - Pollock is on everyone's radar at the moment as talks of Quotas and delays circulate North America...

The 2019 Total Allowable Catch for Pollock in the Gulf of Alaska was set at 141 thousand Metric tonnes, down quite a bit from 166 thousand metric tonnes last year.

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In the Bering Sea and Aleutian Islands, the 2019 TAC was set at 1.42 million MT whereas in 2018 it was set at 1.38 million MT.

The new fishery was set to begin last week, however, fisherman have a delayed opening now due to the Government Shutdown forcing a "skeleton crew" for NOAA inspectors, which is mandatory for US vessels fishing in State waters.

--- In Russia, the total allowable catch for Pollock in 2019 was set at 1.79 million metric tonnes, up about only 0.28 percent over last year's TAC in 2018.

Raw material pricing has been around $1300 per metric tonne with speculation of prices to lower by January.

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However, pricing since rose to $1400 per metric tonne this month with indicators ponting to another rise in February as Chinese processors secure product for production after Chinese New Year.

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Several Chinese processors are saying they are still waiting for Russian raw material quotes and that the delayed quotes are a sign of suppliers waiting for demand to push up pricing next month.

When raw material prices increase by $100 per metric tonne, we typically see this reflected in twice frozen fillet pricing by about $0.10/lb.

So while twice frozen pollock fillet pricing is already strong in the range of $1.50-$1.60, we might not have reached the ceiling yet.

--- In conclusion, our TradexLIVE offer of the week is for SINBAD brand Haddock Loins.

We have 4oz and 6oz IQF skinless boneless haddock loins available in Vancouver for $3.59/lb USD.

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SINBAD products are harvested from sustainable fisheries (when possible) and are produced from the finest raw materials with exceptional harvesting and processing standards. All products follow our industry best 7-Step Quality Control Process delivering comprehensive inspections at every stage of processing. With our SINBAD Brand, you get a premium product, produced in Asia with our 100% Net Weight Guarantee, Accurate Piece Counts, and No Folded Bellies or Tails.

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