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What Are China Packers Predicting for the New Year?

14 October 2016

GLOBAL - After a week-long national holiday, we checked in with our Chinese office to see what's on their radar at the moment, reports Rob Reierson in the Tradex Foods 3-Minute Market Insight.

Chum Salmon from Kamchatka in Russia is the best available on the market right now, compared to Alaska and Hokkaido. Raw materials from Kamchatka have a 20 percent premium over Russian pink salmon, and Chinese packers are saying that Chum pricing is likely to rise during limited Alaskan availability.

Currently, 6-9lb Dark Pale Meat Colour Chums in Seattle are currently at $1.85 /lb. For Pollock, the Russian season begins in about 2 months, and packers anticipate steady pricing around $1,180 / metric tonne on Russian Pollock.

Finished twice frozen goods in L.A. are $1.15/lb for 2-4oz IQF Fillets and $1.60/lb for 3oz and 4oz IQF Pollock Loins. Taking a look at Haddock now - raw material pricing has been at a historical low level for well over a year now. Since the lowest level of $1,750 / metric tonne, raw materials have risen 14 percent and could hit $3,000 / metric tonne after Chinese New Year.

For domestic buyers, we recommend securing inventories up until February, once price talks are settled for the new year. Current pricing on IQF Skinless Bonless Haddock loins in Vancouver is $3.25 / lb Canadian, and $2.50 USD in Boston. 

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