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3-Minute Market Insight

EP 517 | AIRED 12/07/2020

China Supply Interruptions; Pollock, Salmon, Cod, Haddock; Buy Recommendations?

December 7th, 2020 --- This week we provide raw materials update on Chinese processing and continue reporting on product availability in the North American Markets.

--- Starting with raw materials in China and the main issues interrupting supply are delays and backups as vessels are anchored outside Dalian awaiting COVID testing and disinfecting resulting in stronger pricing across the board.

Tradex Foods on Youtube
he vessels are full of Pollock, Salmon, and Pacific Cod where large packers are reporting that they have been waiting for Salmon for over two months and that they will also be out of Pollock in a few weeks.

On a note about COVID vaccinations in China, Tradex Foods inspectors who are considered frontline workers are now in line to receive COVID vaccinations as certain vaccines start to roll out around the world.

As demand on Pollock continues to build, raw materials pricing continues to climb to levels similar to the same time last year where it's currently at $1450 per metric tonne. ($0.70/lb USD)

Chinese Raw Material Prices

For Salmon, as the global supply of salmon continues to be strained, China raw materials pricing have increased to $3800 per metric tonne for Pinks and $4500 per metric tonne for Chums. (Pinks @ $1.75/lb, Chums @ $2.05/lb USD)

For Pacific Cod, as we forecasted an upward trend since October, China raw materials pricing is now up to $3300 per metric tonne for Russian longline and $2900 for trawl caught. (LL @ $1.50/lb, Trawl @ $1.30/lb USD)

Moving onto Haddock and with supply so short, China raw materials pricing have now hit $3200 per metric tonne ($1.45/lb USD) compared to the $2500 per metric tonne ($1.10/lb USD) it was at back in August and September.

Pricing for Haddock moving into Chinese New Year remains to be highly unpredictable but the determining factor will ultimately be how much Haddock gets harvested.

This Weeks Sponsored Message:

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---- Moving onto product availability in North American markets and our recommendation is to purchase ahead of the curve on whichever products you can get your hands on as Chinese New Year closures and Lent are just around the corner.

For Dungeness Crab, with the Washington, Oregon, and California fisheries delayed until mid December we don't expect to see any new season supply until after Christmas.

There maybe some relief in markets close to British Columbia Canada as B.C. fishermen continue to harvest Dungeness but we expect supplies to be tight.

For Halibut, offers on frozen Halibut will very limited so we are sending a warning out now that prices are going to rise for the next month or two.

If you are a Sockeye buyer, our recommendation is to continue to buy for your needs - forecasting for what you will need until the new season arrives which will be around August 2021.

For now, we recommend purchasing what you can find - at the pricing you have been buying at this year.

Despite the Wild Salmon shortages the market experienced this year, we are the Salmon experts and can help you sercure your Salmon requirements.

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