Salmon prices increase
June 15, 2016
This is Fish Radio. I’m Laine Welch – A nice boost in salmon prices. More after this —
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As predicted, global market conditions are far more favorable and Alaska salmon prices are on an upswing. A loss of production from Chile, the top farmed salmon provider to the U.S. – lower sockeye salmon supplies and a weaker U.S. dollar are improving prices this year.
The last six months we’ve seen that trend reverse and seen the dollar weaken against the Canadian dollar, the Euro a couple points, and the Yen – the yen has strengthened about percent year over year. So that’s good news. That will make our products less expensive to Europeans and Japanese and those are key Alaska salmon markets. Things are looking a bit better supply wise, currency wise, from the way the first wholesale market has been going processors probably have been doing a bit better cash flow wise.
Andy Wink is a fisheries economist with the McDowell Group, which has just this week released the latest sockeye salmon market trends.
This year Alaska processors are expected to concentrate more on fresh and frozen salmon production since canned pink and sockeye packs are still moving slowly. And unlike most years, many fishermen will actually know how much they will get paid even before they set out their nets.
At Kodiak, a base price of 95 cents a pound for sockeyes is posted around town, with a nickel more for refrigerated fish.
Icicle Seafoods, newly acquired by Canada’s Cooke Aquaculture, has posted a base of $1.15 for sockeyes at its remote Larsen Bay plant on the west side of Kodiak Island.
And at Bristol Bay, Copper River Seafoods plants has already posted a base price of 75 cents a pound at its two Bay plants, with an extra 15 cents for chilled fish, 10 cents more if the fish is bled, and an additional 25 cents more for reds shipped out fresh. Total: $1.25 a pound for sockeye salmon at Bristol Bay.
Plant manager Vojtech Novak told KDLG in Dillingham that the owner of Copper River Seafoods was a fisherman and always dreamed of knowing the price before going fishing. He said the company plans to post salmon price information at both plants every Sunday. No word yet from other Bristol Bay processors.
Find more market news from dock to dinner plate in the Sockeye Market Analysis compiled for the Bristol Bay Regional Seafood Development Association. It includes markets for other species as well. Find links at our website – www.alaskafishradio.com
Fish Radio is also brought to you by Ocean Beauty Seafoods – who salutes and says thanks to the men and women fishing across Alaska for their hard work and dedication. (www.oceanbeauty.com) In Kodiak, I’m Laine Welch.