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3-Minute Market Insight

EP 525 | AIRED 02/15/2021

Preliminary Outlook for 2021 Russia & BC Pacific Salmon

February 15th, 2021 --- This week we provide a Preliminary Outlook for this year's Wild Pacific Salmon Harvest for Russia and for BC Salmon on Canada's West Coast.

--- Starting with Russia and the total forecasted catch of Pacific Salmon in the Far East of Russia for 2021 is projected to be 459.3 thousand tons.

Preliminary forecast for the 2020 season was for 384.2 thousand tons and 460.9 thousand tons for 2019.

Breaking down the species and the scientific advice is calling for 322.3 thousand tons of Pink Salmon, 93.5 thousand Chum, 32.1 thousand Sockeye, 11 thousand Coho, and 4 thousand Chinook Salmon.

If the 2021 forecast for Russian Salmon comes to fruition, there will be 146.3 thousand tons more Pink Salmon, 14.5 thousand tons more Chum, and about the same amount of Sockeye produced by Russia over last year.

Russia Pacific Salmon Harvest & Forecast

--- Now moving on to wild Pacific Salmon stocks in British Columbia Canada.

The 2020 Salmon season was regarded as one of the worst on record as BC Salmon experienced some of the lowest runs in Canadian history with a preliminary harvest total of about 2.5 million fish.

Although the harvest of Pink Salmon saw a bump up from previous season; Sockeye, Chum, Coho, and Chinook all continued to see poor harvest.

BC Salmon Harvest

Preliminary forecast for the 2021 season from Fisheries and Oceans Canada are to continue to expect low Salmon returns as low or similar to that of 2020.

Fraser River Sockeye is expected to be a bust again as only 5 out of the 23 Sockeye stocks reviewed are expected to return near their targets.

Nass and Skeena River Salmon returns are anticipated to fall below their targets as well.

The following table provides a summary of the 2021 summary of returns provided by DFO by area and species and show that of the 260 populations (or conservation units) captured in the survey, only 7 wild populations are expected to be near, or above their targets.

Summary of DFO's Outlook for 2021 BC Salmon Returns

We will provide further updates on BC's 2021 Commercial Fishery as Fisheries and Oceans Canada finalizes their reports.

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--- Our pulse on the current Sockeye market is that it continues to be a popular and a sought after product.

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We ARE seeing small quantities being released, however they are the bits and pieces of larger lots.

Prices are high but remain steady and we should expect pricing to remain this way until the 2021 Salmon Fisheries in Alaska and Russia start up.

Our recommendation is to purchase enough for your future requirements if you want to continue to have a Salmon Program.

If you are unsure about current pricing in the marketplace, please contact the Salmon experts at Tradex Foods.

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