Our Advice to Buyers - as Large-Sized Pollock Fillets are Still Scarce In Alaska
September 12, 2016 - Welcome to The Tradex Foods
"3-Minute Market Insight
This is Kyla Ganton and here is the seafood news for the week of September 12th, 2016.
--- Directed fishing for the Pollock C season in the Gulf of Alaska opened August 25th, with increased allocations rolled over from B season.
As of September 3rd, 80,700 metric tonnes have been harvested across all regions of the Gulf, about 33.8 percent of the quota.
Buyers were hard-pressed for larger fillets after the B season ended with 97 percent of the catch producing a 2-4oz IQF fillet and only about 2 and half percent in the 4-6oz size range.
Current catch sizes are marginally better now, as boats primarily target Pollock during unsuccessful Cod fishing, with closer to 15 percent of the Pollock catch suitable for a 4-6oz fillet.
Larger sized fillets may not be avaliable until closer to January or February, caution many West Coast vendors.
4-6oz shatterpack alaskan fillets, if you can find them, were at $2.55/lb USD in Seattle earlier this month.
A season inventories of 2-4oz shatterpack fillets can still be found at $1.85/lb FOB Seattle as well.
Most vendors report pricing trending slightly upwards due to inventory holdings and strong domestic demand, but a better outlook will have to wait until A season begins in February.
--- To keep in theme, our TradexLIVE offer of the week is for 2-4oz and 4-6oz Sinbad brand IQF Pollock Fillets.
These are #1 quality, cut from Frozen at Sea Raw Materials in Russia, and available in Los Angeles for $1.15/lb and in Chicago for $1.30/lb USD.
Click or tap the icon above to view this offer.
--- The shortage in larger sized Alaskan fillets throughout the summer strengthened demand for twice frozen fillets, specifically in the Midwest and East Coast of the USA.
In China, processors report limited avaliability on raw materials right now, even from Russia where boats have some inventories in bonded warehouses.
Russian pollock is all frozen at sea but sizes are small this season, averaging 200-300 and 300-500 grams in the round, which produces very small fillets of under 2oz.
One of the biggest Pollock producers in China has some production space avaialable before Chinese new year closures, but they feel pricing could climb after the new year as cold storage costs accumulate.
Our advice for buyers leading up to the new year is to buy ahead of your needs as inventory will tighten and prices will remain high with potential to rise.
----Thank you for joining me for the Tradex Foods
"3-Minute Market Insight"
This is Kyla Ganton - “BUY SMART” and “EAT MORE SEAFOOD"
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