EP 582 | AIRED 03/28/2022
Whitefish Harvest Update: How Much Non-Russian Whitefish Remains in the Buyer's Pool With U.S. Bans
Mar 28th, 2022 --- This week we provide a Whitefish Harvest Update (on all major Wild Caught species) to estimate how much non-Russian Wild Caught Whitefish remains in the buyer's pool as U.S. Sanctions continue to ban all seafood from Russia.
Experts from the International Groundfish Forum projected a total of 7.095 million metric tonnes of wild-caught whitefish to be harvested from nine key species for 2022.
Of that total, 5.66 million metric tonnes will come from Atlantic Cod, Haddock, Atlantic Pollock (or Saithe), Alaska Pollock, and Pacific Cod.
Of that total, 2.32 million metric tonnes are estimated to be caught in Russian waters leaving about 3.34 million metric tonnes of non-Russian caught Atlantic Cod, Haddock, Atlantic Pollock (or Saithe), Alaska Pollock, and Pacific Cod for 2022.
For Alaskan Pacific Cod and Pollock, about 100,000 metric tonnes of Pacific Cod, and about 800,000 metric tonnes of Pollock remain of the catch limits to be harvested in the 2022 season.
Alaskan sourced Pollock is a highly sought after product for North American markets - used for the McDonald's Filet-O-Fish, USDA food program contracts, and an assortment of value-priced food service applications.
For Russia, about 150,000 metric tonnes of Pacific Cod, and about 1.3 million metric tonnes of Pollock remain of the catch limits to be harvested in the 2022 season.
In the jointly managed Norwegian/Russian Fisheries (where roughly 60 percent of the catch is harvested in Norwegian waters leaving 40 percent harvested in Russian waters), current harvest totals are showing about 140,000 metric tonnes of Atlantic Cod, 45,000 for Pollock, and 29,000 for Haddock harvested in Norwegian and Russian waters.
Last year, harvest totals amounted to 384,000 metric tonnes for Atlantic Cod, 140,000 for Pollock, and 83,000 metric tonnes for Haddock.
When assuming that total harvest will end up similar to previous years, this computes to an estimated 144,000 metric tonnes of (Non-Russian) Norwegian Atlantic Cod, 57,000 of Norwegian Pollock, and 30,000 metric tonnes of Norwegian Haddock remaining to be harvested in 2022.
A significant Cod fishery also exists in Icelandic waters where the new season total allowable catch was determined at just over 222,000 metric tonnes.CHECK OUT OUR #SeaTheGood CAMPAIGN
Which Seeks To Spotlight Something “Good” Happening In The Seafood World As Opposed To Unfortunate News.
Current harvest totals are estimated at about 60,000 metric tonnes in the Icelandic Fishery.
Total harvest in 2021 amounted to 271,000 metric tonnes.
Outside of the projections from the Groundfish Forum, we also have the US/Canadian managed Pacific Halibut fishery which just started the new 2022 season on March 6th.
Net weight harvest totals as of March 15th are for 729,000 pounds - which equates to about 2 percent of the 33.18 million pound net weight catch limit for 2022, and is 200,000 pounds ahead of the pace of last year.
My advice this week echoes that from last week's episode, and that is to purchase as much product that is already physically in North America, or secure product that is on the water in-transit to North America - and sooner than later.
Check our TradexLIVE Seafood Offers portal daily for a wide array of products readily available FOB all major North American hubs.
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