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Tradex sells and distributes approximately 45 million pounds of frozen seafood per year. (Photo: Tradex Foods/FIS)
Tradex report on Alaska supply and demand trends
(UNITED STATES, 11/12/2010)
According to the latest weekly report from Alaska developed by Tradex Foods Inc., the trends of supply and demand in early November and market projections for the Pacific flounders, are as follows:
Supply Trends
Source: National Marine Fisheries Service, 2010
Virtually all Pacific Flounders are caught in the US - of which 90 per cent are harvested in Alaska (2008 datum).
In 2008, US Pacific Flounder landings were 45 per cent higher than the most recent 5-year average. In 2009, landings decreased by 15 per cent, but remained 25 per cent above the 2004-2008 average (Figure 1).Yellowfin Sole represent the largest proportion (41 per cent) of Pacific Flounders landed, followed by Rock Sole (20 per cent) and Arrowtooth Flounder (17 per cent) (Figure 2).
Alaska’s 2010 Flounder TAC is 13 per cent lower than in 2009. As of 23 October, Alaska had harvested 36 per cent of the TAC. This is comparable to other years - with the exception of Yellowfin Sole, the Flounder TAC is rarely met.
Source: National Marine Fisheries Service, 2010
Demand Trends
In 2009, the US exported 138 million pounds (44 per cent) of Yellowfin Sole and 25 million pounds (21 per cent) of Rock Sole - mostly to Asian markets.
Many products return to the US after processing, but in recent years more fish have been staying overseas to satisfy increased demand.
Increased Asian consumption is reflected in rising exvessel prices (Figure 3).
Source: National Marine Fisheries Service, 2010
Projections
Chinese consumption is expected to continue growing - more Pacific Flounders will be exported to the Asian market, not only for processing, but also for consumption.
Global wild whitefish supplies could increase 18 per cent over 2007, creating an increasingly competitive environment. However, Pacific Flounders do not compete directly with Haddock, Cod or Halibut. Their small size already demands lower prices and they occupy a niche market for small, mildly- flavoured fish in Japan, China and South Korea. Niche market position will prevent prices from bottoming out.
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