EP 165 | AIRED 01/06/2014
2014 MSC Alaska Rock Sole, Japanese Demand, Crystal Ball Price Projections
January 6, 2014 - Welcome to The Tradex Foods
"3-Minute Market Insight"
This is Robert Reierson and here is the seafood news for Monday January 6th, 2014.
---It’s January which means the Alaska Rock Sole fishery is not far away.
Rock Sole with roe will be targeted for the Japanese market starting sometime between January 20 and February 10th depending on when the roe is mature.
2014 is expected to be a stronger year for Rock Sole than 2013 where only 67 percent of the quota was harvested vs. the 90 percent harvested in 2012.
Japanese demand was low in the early part of the season which resulted in soft sales and low prices.
Harvesters stopped targeting Rock Sole and switched to other species in reaction to the poor market conditions.
Demand in Japan did increase later in the season, but high halibut bycatch percentages meant fishers had to abort targeted Rock Sole fishing.
Japan Rock Sole with roe imports from the USA are estimated at 7,000 MT annually with the 2013 import coming in at below half, approximately 3000 MT.
Currently there is little to no carryover inventory in Japan and a strong demand for the product.
Crystal ball price projections are CFR Japan prices between $3,000 and $3,500 USD per lb.
Male non roe Rock Sole will be exported to China for fillet production to service North American and European fillet markets.
Prices for rock sole fillets are expected to be in the mid $3.00 range if raw material prices are as predicted.
Buyers can expect higher volumes of fillets in the market but only for a short period.
Rock Sole is targeted during the roe season which only lasts a short time.
The non-roe product used for filleting is not targeted once Rock Sole with roe fishing ends.
Chinese processors buy the non roe raw material and process over a short period of time selling the finished goods to contracts over a 2-3 month period after the raw material arrives.
This gives buyers a very small window of time to secure product so don’t hesitate if you plan on including Alaskan MSC Rock Sole in your purchasing plan for 2014.
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This is Rob Reierson - “BUY SMART” and “EAT MORE SEAFOOD”
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