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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 Fast Facts to start this week’s insight: The Cod season is underway in Alaska and we
now have confirmed grounds pricing to the boats on whole round fish.
Last season pricing came in at 31 cents per pound – this season – pricing has increased
to 35 cents per pound. In news this week…
the Global Whitefish market is in limbo as everyone is eagerly awaiting the US trade
decision on Pangasius that is scheduled for later this month.
The US Catfish industry is lobbying for the regulation of Catfish and Pangasius to be
shifted from the FDA to the USDA where it will face more stringent food safety standards.
If a decision is made in favour of the US large quantities of Vietnamese Pangasius will
not be able to enter the market and it can be projected that prices for all whitefish
in the US market will rise considerably. However if the regulation does not passthen
it can be expected that Vietnamese Pangasius will flood the market and push down prices
for all whitefish. For Alaskan Pacific Cod fishermen this would
mean an abrupt end to a year that started off with lofty prices.
As mentioned The Alaska Pacific Cod season opened on January 1st and fishermen are demanding
12 percent more for their catch than last year even though the 2011 catch is forecasted
to increase 23 percent over last year. Other global markets will be equally influenced
by the upcoming Pangasius trade decision. If Vietnamese product cannot enter the US
producers will have to seek out alternative markets.
Right now Europe is setting low prices for Pangasius and the Vietnamese will be forced
to sell fish here or explore opportunities elsewhere.
In other news… a recent survey carried out by the US National
Restaurant Association found that seafood sustainability is the 7th biggest restaurant
trend for 2011. It is clear that sustainability is not just
popular within specific market segments it is becoming mainstream.
In response to demand more and more fisheries are seeking recognition for sustainable management
practices. The Marine Stewardship Council has now certified
103 fisheries worldwide. Recently certified fisheries include: Plaice
out of the Netherlands & Denmark; Haddock out of the UK; Oregon’s Dungeness Crab;
and Canada’s Sockeye Salmon, Sablefish, Haddock and Yellowtail Flounder.
Thank you for joining me for The Tradex Foods "3-Minute Market Insight"
This is Robert Reierson “Have a great start to the New Year “ and remember to “BUY
SMART” and “EAT MORE SEAFOOD”