EP 606 | AIRED 09/12/2022
Buyer’s Market: Salmon Pricing Now at Opportune Levels - especially Sockeye
Sep 12th, 2022 - Back in July (at the start of the Summer Salmon season), we recommended that buyers "wait and hold" on their Salmon inventory purchasing as we anticipated that we would be transitioning to a buyer's market.
We believe that "that time" is now as it appears Salmon pricing are currently at opportune levels - especially on Sockeye right now.
However, do not wait too long before securing your supply as inventories will tighten back up as demand increases from EU volumes picking back up, and as we shift from summer to fall/winter markets.
As we transition to the fall/winter markets, preparations for Christmas, Chinese New Year, and Lent will all attribute to a tightening of supply towards the end of the year.
For Pink Salmon, although Alaska realized a harvest of almost 100 percent of their forecast, the 60 million Pinks harvested this year is still only half of what was harvested last year. (This was expected though as even-years almost always produce less Pink Salmon in Alaska than odd-years).
In Russia, preliminary figures show that only 73 percent of the 190,000 ton Pink Salmon forecast was realized - compare this to last year's harvest of over 424,000 tons.
This shortage is being felt in China as processors are not seeing many Pink Salmon offers where normally there would be lots of offers.CHECK OUT OUR #WhatsGood CAMPAIGN
Which Seeks To Spotlight Something “Good” Happening In The Seafood World As Opposed To Unfortunate News.
This will lead to some upward price adjustments for Pinks in the raw materials market.
--- If you are not already, be sure to subscribe to our Weekly Seafood News Update using the signup form below.