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Russians reveal Pacific salmon quota

01 May 2017

Russia’s salmon catch quotas for the Far East Basin are just under 320,000 tonnes across all salmon species this year, reveals Kyla Ganton in this week’s Tradex Foods 3-Minute Market Insight.

Last season, the initial quota set by the Federal Agency for Fishery in Russia was around 332,000 tonnes, but this was significantly increased mid-season, leading to a final catch of about 446,000 tonnes.

This year, pink salmon makes up 45 percent of the quota, with chums totalling about 40 percent. The Kamchatka region is particularly important, as it accounts for about 50 percent of the total salmon catch in Russia.

Chinese processors are hopeful for a big salmon season, with some forecasting a supply increase by about 50 percent. Raw material inventories right now are slim for chum salmon but production of pink salmon products is steady.

Price points are unconfirmed for 2017 but Tradex say they have a good idea of where the market is going – while pink and chum salmon portion pricing strengthened by 10 percent last year, they see pricing coming back down again this year.

8oz twice frozen IVP pink salmon portions hit $4.05/lb last month in Los Angeles, whereas twice frozen 2-3lb IQF chum salmon fillets were around $3.10/lb.

Sockeye forecasts make up only 15 percent of the Russian quota, so pricing is unlikely to change from last year. Twice frozen 1-3lb IVP socekye fillets are at $5.20/lb in Vancouver at the moment.

Another factor with pricing this year will be the rumoured duty increase on the exports of fish out of Russia, in an effort to strengthen their domestic market. As recently reported by the Russian Federal Agency of Fisheries, the current duty rate of 3 percent could be raised to 10 percent. This change would reduce the volume of fish exported to China for further processing, subsequently increasing finished goods pricing for North America.

Tradex will give another update once we find out more, but for now they expect prices to be on par with last season, possibly decreasing by about 10 percent if harvests are strong.

To see the full report click here

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