News Summary January 20, 2017
Today's Main Story: Pollock Surimi Prices Drop for First Time in 4 Years on Increased Quota, Slow Fillet Demand
North American pollock surimi prices record their first drop in 3 years and 9 months in Japan thanks to robust landings in Alaska. Prices of pollock surimi--which serves as materials for fish paste products such as kamaboko and chikuwa in Japan--are turning lower. The downturn was triggered by a drastic increase in pollock catch in North America, which diluted the sense of short supply around the globe. Another cause was the decrease in the consumption of pollock fillets in Europe. While surimi product makers can expect the effects of cost reduction, it is uncertain whether the raw material price fall directly leads to retail price cuts as producers had suffered deteriorating profit due to high prices during the preceding years.
In other news, Northern Dynasty Minerals has more than tripled since the U.S. election to approach a four-year high this week amid speculation the incoming administration will allow the explorer’s long-stalled Pebble project in Alaska to move ahead. Last week, the Vancouver-based company drummed up C$43 million ($32.4 million) in a secondary share offering to investors eager for a stake in
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