EP 537 | AIRED 05/10/2021
May 10th, 2021--- This week we provide China Update for the Twice Frozen Market as our sources in China are calling for a moment of calm, before the storm.
--- The supply chain is still strained on twice frozen seafood products as Chinese port authorities continue to implement strict Coronavirus protocols for disinfection and testing of containers being passed through to cold storages.
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Now moving onto the state of raw materials pricing in China.
For Pollock, pricing on Russian raw materials is to continue climbing as Russian boats don’t want to, and can't afford the cost of shipping into China.
Current raw materials pricing on Pollock is $1450 per metric tonne USD (or $0.70/lb).
For Pacific Cod, pricing is gradually increasing as there is significantly less Alaskan raw materials than last year from a 27 percent quota cut, all while Russian boats are to stop shipping to China.
Current raw materials pricing on Pacific Cod ranges from $2850 per metric tonne USD (or $1.30/lb) for Russian frozen at sea to $3200 (or $1.50/lb) for Alaskan trawl frozen at sea.
For Haddock, raw materials pricing has gone up a lot as Russian fish can't go to China which has led to the prices of Nowegian Haddock to rocket from $3200 to $3800 per metric tonne USD (or $1.70/lb).
And lastly for Salmon, some pre-season chatter has processors speculating Alaskan raw materials pricing to range between $1.80 to $2.30 for Chum and $1.70 for Pinks.
It's going to be a bigger year for Wild Salmon than last year with an odd-year surge in Pink Salmon from both Alaska and Russia.
Global Wild Salmon harvest this year is predicted to reach about 930,000 metric tonnes compared to the 600,000 metric tonnes produced last year.
Our recommendations are to 1 - contact us before making any purchases, 2 - start making your Chum Salmon commitments now, and 3 - keep tuned into this weekly update as we help navigate another year of supplying seafood through a pandemic.
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