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3-Minute Market Insight

EP 563 | AIRED 11/08/2021

Halibut Update: October Harvest Hits New Records

November 8th, 2021--- This week we provide a brief Pacific Halibut update as a staggering 5 million pounds were recently harvested within 2 weeks - which could see October as one of the highest producing months for the Halibut industry in recent years.

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Between October 15th and November 1st, 4.99 million pounds (in net weight) of Pacific Halibut were harvested resulting in a 6.25 million pound October harvest.

The spike in catch looks to have mostly come from central Gulf of Alaska realizing 97 percent of it’s 11.14 million pound quota (in net weight), and southeastern Alaska realizing 98 percent of it’s 4.41 million pound net weight quota.


--- With about 1 month left in the Pacific Halibut fishery, 27.19 million pounds of the 30.33 million net weight pound fishery limit has been harvested leaving 3.14 million pounds remaining to be harvested before the fishery ends December 7th.

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Looking back at January 2020 when we spoke to David Wilson (Executive Director of the International Pacific Halibut Commission), he was “hopeful of an improved operating environment that will include an increased domestic demand for Pacific halibut as the fish of choice for restaurant tables throughout Canada and the USA.”

With landings already above last year's levels, and scarce inventories felt throughout the entire year, it seems the Halibut industry got exactly what they were hopeful for.

Moving onto the market conditions and since Frozen Pacific Halibut starting flowing in September, Pacific Halibut continues to remain expensive and hard to secure.

Throughout October, the fresh market continued to make frozen inventories scarce and there was some relief in sourcing Russian raw materials as an alternative.


With the recent large harvest out of Alaska, we should expect to see some more frozen products available.

For now, we should be able to secure you some Summer 2021 H&G Alaskan Halibut - MSC, Trimmed, IQF - please inquire immediately if this is something you're interested in.

With that said, our recommendation is to get your name in the queue with your Tradex Foods representative if you require some Pacific Halibut.


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