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Thank you for joining us for The Tradex Foods "3-Minute Market Insight"
The Monday morning “pulse report” for seafood purchasers.
------Some quick and interesting news out of North America
Sockeye Salmon prices are softening a bit – mostly due to downward pressure on Atlantics
that is transferring over
Squid catches increasing in California as we come into the peak season – regardless
prices are high and are expected to remain that way
We’ve been noticing that the global economy is impacting premiums on MSC certified products
Buyers aren’t quite as willing to fork over extra money for the eco-label.
------In the news this week,
You’ve probably heard about the Wild BC Sockeye Salmon that tested positive for infectious
Salmon anemia last week.
The infection was diagnosed by a doctor at the Atlantic Veterinary College in PEI who
received the sample from a fishery statistician at Simon Fraser University.
Information that hasn’t been highlighted in the press is the fact that the samples
tested were actually juvenile smolt Sockeye – not adult specimens.
Moreover, the SFU statistician claims that the virus must have come from BC farmed Salmon
– but there has been no testing on farmed species to back this up.
Finally, the virus has not even been isolated – nor has the Canadian Food Safety Institute
confirmed it as positive.
It is also important to note that while the virus is highly contagious and lethal to Atlantic
Salmon – as demonstrated by the devastation of Chilean Salmon farms in 2007 – its effect
on wild Pacific Salmon remains unknown.
The CFIA is currently reviewing the validity of the claims made by Simon Fraser University.
We will be providing updates as they come in so follow us on Twitter to remain in the
loop!
------Next up,
We received reports from two of our packers that 70 percent of Tilapia raised in the Maoming
area of China died of streptococcus disease.
As a result, packers are asking customers to pay 17 percent more for product that was
already purchased on contract deals – or face the implications of not having orders
filled.
Other regions have also experienced difficulty farming Tilapia this year due to severe weather
conditions.
Essentially, it has resulted in a supply shortage and rising prices.
Currently, prices are up 20 percent over 3 weeks ago and they can be expected to climb
even more.
The disappointing Tilapia season has many Chinese farmers thinking of making a change
next year.
Catfish farmers in China have made record profits over the last two years – a result
of growing demand domestically in China and high prices.
High profits are attractive and Tilapia producers are preparing to switch to Catfish next year.
Not surprisingly, its already expected this will drive down Catfish prices.
------Thank you for joining me for the Tradex Foods - "3-Minute Market Insight"
This is Robert Reierson - “BUY SMART” and “EAT MORE SEAFOOD”