EP 609 | AIRED 10/03/2022
China Update: COVID, Pink/Chum Pricing, More Buyer’s Refuse Russian Origin Fish
Oct 3rd, 2022 - The COVID situation in China has settled down over the last few weeks.
Although fish plants were allowed to remain open this whole time - things like offices, transportation, dine-in restaurants have just started to re-open.
Pink Salmon raw materials are short and prices continue to remain at high levels.
Russian Pinks are currently priced at $4600/MT (or $2.10/lb USD) and Alaskan at $5000/MT (or $2.25/lb USD).
Alaskan Chum is also short and current pricing is over $6500/MT (or $2.95/lb USD).
Processing plants are not seeing many offers of Russian Chum yet but were told that Russian Chum has stayed in Russia for the domestic market.
Preliminary figures show that just over 48,000 tonnes of Chum Salmon were harvested in Russia this season which equates to only about 54 percent of the forecast and 65 percent of last year’s harvest.
Alaska’s contribution of Chum reached about 14 million fish for the 2022 season (which is estimated to be between 40,000 to 50,000 tonnes).
The US dollar has been getting stronger against all currencies (which includes the Chinese Yuan) and that means it is more expensive for Chinese plants to import seafood.
New intel we are hearing is that the list of EU and North American buyers refusing to buy Russian origin fish may grow as the Russia/Ukraine war continues with no end in sight.CHECK OUT OUR #WhatsGood CAMPAIGN
Which Seeks To Spotlight Something “Good” Happening In The Seafood World As Opposed To Unfortunate News.
Our recommendation continues to be that you start your planning now for the holiday season and Lent requirements now.
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