Global Cod Stocks

September 09, 2013

Gadus_morhua_Cod-2b-Atlanterhavsparken-Norway
This is Fish Radio. I’m Stephanie Mangini. Where does Alaska stand in the global cod market? Learn more after this . . .
Northrim Bank has money to loan and experts to help. Contact Zac Hays and visit www.northrim.com. Northrim Bank, Member FDIC, Equal Opportunity Lender.
Want photos and broadcast footage of real fishermen catching real fish? The Alaska Seafood Marketing Institute’s new lifestyle series is available on CD and DVD. Find it at www.alaskaseafood.org
What may be good for the cod resource globally, might not be so good for Alaska’s Pacific cod market. Harvest levels for 2013 in the Bering Sea and Gulf of Alaska are around 320,000 metric tons and will most likely be around the same for the upcoming year.
Unlike the European markets, namely Russia, Iceland, and Norway their cod quotas are expected to increase in some areas by up to 10% in 2014. John Whiddon, the general manager at Pacific Seafoods in Kodiak shared his thoughts about global cod stocks earlier this year.
There is a huge Russian component, over a million metric tons was leased in the Barents Sea quota. We’re also seeing resurgence in the N. Atlantic. So there is cod coming from a wide variety of places around the world, which is creating an oversupply of cod.”
The over supply of cod fish worldwide will likely have a negative effect at prices seen at the dock. It is a simple case of supply and demand. To make matters worse there are the high transportation costs from Alaska to China.
Right now the cost to get the same cod coming from Russia to China is about half the price of the transportation cost from Kodiak to China.”
Another competing element is other white fish. For many . . . cod is just another whitefish protein, like pollock or tilapia. But for Alaska . . . P-cod comes in at 11% of Alaska’s total fish landings. What started with a ten-cent drop in the beginning of the year, is sounding worse as the season wraps up.
Rumors bring more bad news to the docks, that the price of cod could loose a couple more cents come this fall. Leaving fishermen in wonder if it is even possible to run their operations and be able to turn a profit.
Find links for these stories and more at www.alaskafishradio.com – a one stop shop for Alaska fish news.
Fish Radio is also brought to you by Ocean Beauty Seafoods. Ocean Beauty has contributed over 10 million meals to the U.S. Food Bank network, and is committed to ending hunger in America. www.oceanbeauty.com In Kodiak I’m Stephanie Mangini.

Comments

comments