How Alaskans Forced Snow Crab Prices Above $8.00; This Price Likely to Carry Through to Boston
Reports from Japan say “Bering Sea Opilio Prices are escalating wildly above $8.00” due to the production cutback in Alaska. As a result, wholesale snow crab prices in Japan have smashed all records, and are up about 50 percent over last year. Traders think the $8.00 per pound prices will also be on offer at the Boston Seafood Show. However, they hold out hope for an early opening of the Canadian Gulf season, especially if ice conditions are not severe this year. As far as snow crab buyers go, all eyes are on the opening of the Gulf and Newfoundland seasons writes John Sackton.
Marine Harvest doubled its earnings in 2016 as the operator benefitted from strong global demand for limited inventories of high-priced salmon. “2016 was a great year for Marine Harvest, with both record earnings and cash flow generation. I am very proud of the work all our colleagues have put in to achieve these results,” said Marine Harvest CEO Alf-Helge Aarskog. The world’s top salmon producer also announced plans to expand its market share in North America with a new processing facility and farming sites in Canada.
In other news, tilapia processing plants have started back to work after the Chinese New Year. But output is still low. The market situation in 2016 has taken a toll on farmers feeding and stocking of tilapia, which has meant stable prices amid small supplies. Meanwhile, white shrimp production in sheds, or roof covered ponds, exceeded expectations in South China, with the result that for the first time in several years there was no major price increase on shrimp during the New Year festival.
Iceland’s Ministry of Fisheries raised its commercial capelin quota to 299,000 metric tons, which is a sharply higher quota compared to last year. Major Iceland fishing company HB Grandi is among the key capelin harvesting companies in the country and said the higher quota should benefit Japan's roe market. "There is strong demand for roe-bearing capelin on the Japanese market and as stocks are low, roe prices are high," said Garðar Svavarsson, head of HB Grandi's pelagics division.
Finally, the votes fell short for a second round of Southeast Alaska salmon seine permits to be retired, or bought back, by a federal loan. The referendum failed by 26 votes among 315 eligible to participate
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