SEAFOOD MARKET TRENDS 2008

MAHI-MAHI – Supply is sufficient and prices are STABLE due to new reported catch in South America. Taiwan season is closed and very little frozen still available from this origin.

YELLOWFIN “AHI” TUNA – Supply is Short, prices are FIRM. Frozen demand is up significantly and catch has been poor in the Philippines which is resulting in higher prices for good quality frozen Ahi.

SWORDFISH – Supply is sufficient and prices are STABLE.

ALBACORE TUNA – Supply is sufficient, prices are FIRM.

SNAPPER, SOLE, AND COD – Fresh Snapper supply POOR, prices are FIRM due to bad weather. North Atlantic Cod is pricing VERY FIRM and availability is limited. Ling Cod availability is ADEQUATE and prices are FIRM. Pacific Cod in TIGHT supply with FIRM prices. Sole availability is POOR and prices are FIRM due to the same bad weather.

SEA BASS – Fresh Chilean Sea Bass is available in limited quantities and pricing is FIRM. Blue Nose is VERY SHORT as the quota is out. Prices are FIRM at highs eclipsing the highest on record. Fresh Local White Sea Bass is not available

SCALLOPS – Fresh & Frozen supply is adequate. Summer harvest has yielded nice large scallops in areas previously closed for conservation purposes. Prices are STABLE.

ALASKAN KING CRAB – Prices are FIRM on 14-17 and smaller as the Alaskan King Crab Season is closed until after Christmas. The market shortage is being amplified due to the Russian Crab poaching scandal that has taken hundreds of thousands pounds out of the market as the investigation proceeds.

CANADIAN SNOW CRAB – Prices are FIRMING, supply is adequate. Snow Crab Meat pricing is STABLE, but a large range of origins and quality standards create a broad spectrum of varied availability…buyers beware!

* Disclaimer – The information provided above is based on “best estimates” from packers and suppliers of seafood. IPS accepts no liability for any decisions that might be made as a result of this forecast.