EP 199 | AIRED 09/08/2014

Shrimp Market Nearing Record Level Prices, Pollock at Low Prices but No Takers

September 8th, 2014 Pricing for East Coast Pandalus borealis and West Coast Pandalus jordani Shrimp meat have been on the rise over the last few months and are continuing to rise.

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---Pricing for East Coast Pandalus borealis and West Coast Pandalus jordani Shrimp meat have been on the rise over the last few months and are continuing to rise 250/350 count Atlantic Canadian Maritime Pandalus borealis pricing at the moment is extremely strong ranging from $6.05 to $6.40 per pound FOB Boston Other sizes of East Coast cooked and peeled Pandalus Borealis Shrimp are $6.50/Lb for under 150 count, $6.25/Lb for 150/250 count, and $6.20/Lb for 300/400 count Strong pricing stems from the Atlantic Canadian Shrimp quota being cut by 25 percent this year mostly affecting the inshore waters Unofficially this has impacted the cooked and peeled supply by around 50 percent as the offshore product is commonly caught and sold as whole cooked products Fishing on the East Coast will go until the quota is used up The boats fishing the Gulf of St. Lawrence have caught their quota already and boats fishing the Newfoundland waters should finish their quota this month Data published on September 5th by the Department of Fisheries and Oceans Canada show that about 49,000 metric tons of Pandalus Borealis has been caught in the Newfoundland and Labrador Fishery which represents 44 percent of the 111,000 metric ton quota In 2013, 74 percent of the 125,000 metric ton quota had been caught in the Newfoundland and Labrador Fishery Shortages combined with an increased duty free import quota in Europe for Canadian Shrimp meat has put pressure on North American supply of West Coast Pandalus jordani Shrimp meat We have heard that an East Coast supplier with large quantities of 250/350 Pandalus jordani Shrimp have taken the product off the market holding out on sales until the price rises to $6.00/lb ---West Coast Pandalus jordani Shrimp remains to be a tight supply with minimal 250/350 count and only a little better supply of 350/500 count Prices for 250/350 count Pandalus Jordani range from $5.00 to $5.50 per pound FOB Oregon Rumours are circulating that those prices are to hit the high $5.00/lb range by November At the moment 350/500 count Pandalus jordani Shrimp seem to be a ‘bargain’ at over $4.00/lb FOB Oregon The Oregon Department of Fisheries and Wildlife have confirmed for us that about 35-37 million lbs of Pandalus jordani Shrimp has been caught this season ODF&W is anticipating the final catch to be around 40-42 million by the end of the Season on October 31st In 2013 the total catch for Oregon Shrimp was 47,628,780 lbs which was the 7th higheest season on record The success of the Oregon Pink Shrimp fishery has been maintained by repeated good recruitment events and excellent hold-over of age-1 shrimp to age-2 shrimp the following year This fishery continues to lead the way in innovation and sustainability Bycatch Reduction Devices or BRD's have been enforced on Shrimpers and now The ODF&W Shrimp Project and Pacific States Marine Fisheries Commission have been testing a simple new method involving LED lights. The technique involves attaching a series of LED lights to the fishing line of the trawl Preliminary findings have resulted in a 90 percent reduction in Eulachon bycatch, 78 percent reduction in juvenile Rockfish and a 69 percent reduction in combined flatfish such as Slender Sole, Rex and Arrowtooth --Lastly the Pollock season is open in Alaska and prices being offered for export to China are ranging between $1450 to $1850 per metric ton At the lowest price of $1450 there are still no takers This could eventually lead to reduced Pollock fillet prices So far supplies are limited as boats are targeting Pacific Cod first


---Thanks for joining me for the Tradex Foods "3-Minute Market Insight" This is Rob Reierson - “BUY SMART” and “EAT MORE SEAFOOD”

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