Seafood Market Report

General market pricing is firm and overall inventories are light in US markets.  US dollar is still weak.  Fuel prices are high and expectations for further increases throughout the summer.  Worldwide emerging middle class economies in Russia, Brazil, India and China are purchasing more products.  Japan is rumored to begin purchasing seafood again and will have definite impact on certain species such as king crab, snow crab, salmon and scallops.  General feel is that prices should stay firm as inventories are not building.

Snow Crab:

Canadian fishing is reported as good.  Zone 12, 16 and 17 (Gulf) has opened on 4/25/2011.  Please note that those area's produce very nice crab (bright shell and good meat fill. excellent product for retail and foodservice).  Quota is up 11% from last year.  At current rate of catch, fishing may be over in as little as 3 weeks.  Japan typically purchases up to 60% of the total catch is rumored to be buying within the next couple of weeks. 

King Crab:

Only small red king crab is available (20/24 and 20/+).  All sizes of Russian brown are available now (limited quantities available).  Alaska's next red fishery is in October and brown is in August. 

Swai  Fillet:

US market is very firm with inventories reported as low.   3/5 and 7/9's are reported as very short today with limited offerings on 5/7's.  Overall production is forecasted to be 30% less this year.  Primary factors are soaring cost of fuel, high cost of feed and many farmers in Vietnam have gone bankrupt due to the overall cost of business.  In addition there is an increased demand on swai fillet due to the decreased supply of both Chinese and domestic catfish. 

Tilapia:

Pricing overseas is higher than current US prices.  Forecast is that market will remain strong throughout summer season.  Demand is likely to remain strong as this is one of the top 10 most consumed seafoods in the United States and is still relatively inexpensive.

Lobster:

New Canadian season will open May 1, 2011.  Note: Spring season produces largest amount of lobster.  Sizes typically produced are 2/3, 3/4, 4, 4/5 (60%), 5/6 (5-7%), 6/7 (8-10%), 7/8 and larger (25%).  Please call to place order for custom pack whole cooked lobsters (netted or non netted).  If fishing is good and weather cooperates, fishing season will be finished in 10 weeks.

South American warm water lobsters: Brazil closed in December and will re-open in June.  Remainder of South America is closed and will re-open in August.  Prices remain firm with very limited inventories.

Shrimp:

Overall white shrimp inventories are reported as low and prices are firm to rising.  Most all small white shrimp (31 and smaller) are in high demand with retailers and foodservice operators.  New Black Tiger shrimp offerings are reported as high.  Current US inventories on black tigers are reported as low.  Next possible opportunity with white shrimp will be in late June/early July - note: possible. 

Scallops:

Domestic landings report only 10/20's with very few U/10 and 20/30's.  Market is very firm.