EP 340 | AIRED 06/19/2017
Supply of Yellowfin Sole, Rock Sole, Flathead Sole Fillets Are Short, Some Boats Stop Fishing
June 19, 2017 - Welcome to The Tradex Foods
"3-Minute Market Insight"
This is Rob Reierson and here is the seafood news for the week of June 19th, 2017.
--- Supply of Yellowfin Sole, Rock Sole and Flathead Sole fillets are short in China right now.
In the twice frozen market, processing plants are not getting the supply they need and they are blaming it on poor fishing out of Alaska.
We're hearing that a few large vessels in Alaska have already stopped fishing for Sole.
As we approach the summer months, more boats will stop fishing for Sole as the texture of the fish is too soft.
Sizing is smaller than previous years and on top of that, more plants got involved in Sole processing this year because of what happened in the Pollock market.
Plants are expecting Sole raw materials to stay short and are hoping for a better supply by the fall.
--- In Alaska, roughly 40 percent of the 154,000 Metric Ton quota for Yellowfin Sole has been harvested.
As for Rock Sole, nearly 27,000 Metric Tons have been harvested in the Bering Sea Aleutian Islands.
For Flathead Sole, roughly 10 percent of the combined quota between BSAI and the Gulf of Alaska has been harvested and is basically non-existent in the market right now.
--- Yellowfin Sole raw materials pricing in China are up about $200 per Metric Ton from last year.
Plants are telling us that pricing will stay strong into the fall and will continue to stay strong even if the supply improves.
This is because demand for Sole will be even stronger as Chinese New Year approaches.
5oz Skinless boneless Yellowfin Sole and Rock Sole are priced about $2.45 to $2.50 range.
Pricing for Sole on TradexLIVE have remained fairly steady in 2017 but pricing is already on the rise.
Anything larger than a 5oz fillet is quite hard to find right now.
Our Recommendation is to take a position on any Sole you find.
--- To wrap things up, our TradexLIVE offer of the week is for 3-5oz Yellowfin Sole Fillets.
These are #1 Quality, Skinless, Boneless, Wild Caught in Alaska and a priced at only $2.32/lb FOB Norfolk Virginia.
These fillets are great for center of the plate applications.
Click or tap the icon above to view this offer.
----Thank you for joining me for the Tradex Foods
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