Japan Losing Out in Sockeye Market As Higher Prices Expected in Bristol Bay This Year
SEAFOODNEWS.COM by John Sackton May 11, 2017
In the 1990’s Japan bought 70,000 to 80,000 tons of sockeye per year from Bristol Bay.
Last year, with near record landings in the Bay of 37.3 million fish with a weight of 90,000 tons, they purchased only 10,000 tons.
Japan also purchases sockeye from Russia, but the primary cause of this decline is that they are being priced out of the sockeye market due to strong US demand.
Japanese traders are compelled to buy above their market cost if they accept the prices proposed by US packers.
Traders point out that Japanese cannot keep up with the US prices because the current price level of salmon products distributed in Japan do not meet the raw material costs. In other words, the Japanese prices are too low.
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