3-Minute Market Insight EP83 – Copper River Updates, Which Fishery is on the Brink of Collapse?

Welcome to The Tradex Foods
“3-Minute Market Insight” ——Some Fast Facts to start the week… The Alaska Department of Fish and Game announced
an opening for Copper River sockeye fishing on Thursday May 17th at 7:00 am. Fishing was allowed for 12 hours. Weeks 20 and 21 are called statistical weeks
and are strictly regulated to only one 12 hour opening per week for these two weeks. The Miles Lake sonar which measures escapement
was deployed May 9th, but was not confirmed functional as of May 16th. Escapement estimates posted by ADFG show the
majority of the copper river run happening between May 22nd and Jun 12th. 24 hours after opening copper river salmon
landed at Seatac airport ready for distribution. Reported prices are $8.50 per lb. FOB Anchorage
for sockeye and $15 per lb. FOB Anchorage for Kings. ——-Next Up, Halibut As of May 18, 2012 21 percent of the Pacific
halibut quota has been harvested according to the International Pacific Halibut Commission. There are 11 reported pending landings expected
within the next 12 hours totalling 19,800 lb. Current grounds prices are $5.60 for 10-20’s,
$6.10 for 20-40’s and $6.65 for 40 plus fish. Fresh prices FOB Alaska are $6.00, $6.30 and
$6.80 respectively, leaving very little for the processors. According to sources in Alaska the fishing
effort on halibut has been limited as fishermen targeted black cod. Boats are reportedly now switching to halibut
as Japanese buyers have slowed their purchasing. Processors in Alaska expect increased landings
over coming weeks and are cautious about purchases as grounds prices could fall quickly. small fish continues to be the majority of
the landings with 60-70 percent of the harvest being 10-20 lb. fish. ——Now a little bit on Hake International hake buyers are turning to alternative
species as declining hake quotas and stocks decline. African seafood buyers are turning to Pacific
hake and red hake to fill their high demand the species. Total allowable catch for Nimibian hake, Merluccius
capensis, is set at 140,000 tonnes for 2012. Although the TAC is slightly higher than the
135,000 tonnes allowed last year, it is still considerably down from 190,000 tonnes allowed
in 2005. Historically buyers turned to Argentinian
hake, Merluccius hubbsi, however this fishery is also in decline. According to the Argentine Wildlife Foundation
the hake fishery is on the brink of collapse. Environmentalists warn that more than 60 percent
of the fish harvested are juvenile and the fish is in danger of disappearing altogether
if something does not change. National Institute of Fishing Research and
Development (INIDEP) reports that for every 10 adult fish in 1986, today there are only
2. Argentinian sources reported this time last
year that the hake fishery had become non-profitable with increasing costs, changing diets and
decreased fish size. Fishermen report that filling a hold of 150
tonnes takes 10-12 days, where it used to take 3-4 days. Buyers should expect a competitive market
for hake as countries like South Africa try to fill the demand for the very popular hake
fish. ——Thank you for joining me for the Tradex
Foods “3-Minute Market Insight”
This is Robert Reierson – “BUY SMART” and “EAT MORE SEAFOOD”

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