EP 598 | AIRED 07/18/2022
Salmon Market Update: Buyer’s Market...Soon, Quality Alert, Pink Chum Coho Next
July 18th, 2022--- Last week, headlines broke that Bristol Bay had already set a record-breaking harvest at 46.6 million Sockeye, so this week, we’re reporting on what we believe will be a buyer’s market... Soon.
Bristol Bay’s record harvest is the largest since commercial fishing began in 1883 and has beat the previous record set in 1995 of 44.3 million fish (and the season is not over yet).
In catching up with Andy Wink (Executive Director of the Bristol Bay Regional Seafood Development Association), he advised that the “fisherman and processors are handling the run very well”.
Andy also went on to say that “On average, the fishery produces an additional 15 million Sockeye from July 10 through the rest of the season.”
--- On the market side, Our Recommendation for buyers is to “Wait and Hold”.
We anticipate that we will be transitioning to a buyers market soon.
Our recommendation is to also perform your due diligence on sourcing Salmon this summer.
We have heard that a lot of processors are leaving fish on the Salmon tenders for long periods of time, then having to ship them out of Bristol Bay to other plants that are not as busy - this could lead to inferior fish.
--- Inflationary pressures should not dampen consumer Sockeye sales this season.CHECK OUT OUR #WhatsGood CAMPAIGN
Which Seeks To Spotlight Something “Good” Happening In The Seafood World As Opposed To Unfortunate News.
In fact, the BBRSDA has teamed up with an impressive roster of the nation’s best retailers to promote Bristol Bay Sockeye such as Publix, Hy-Vee, and Whole Foods (just to name a few).
Bristol Bay is home to the largest sustainable commercial wild Sockeye Salmon fishery in the world AND produces as much Sockeye in a single day as most other Alaska salmon fisheries do in an entire season.
As the Sockeye season winds down, Pink, Chum, and Coho Salmon are set to be harvested next.
Current Chinook Salmon landings are lower than historical averages and we will provide more information on this in upcoming reports.
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