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Fish & seafood outlook

Fish & seafood outlook

What's happening in the market in February

FEBRUARY AT A GLANCE:

  • Salmon – January has seen record high prices and recent bad weather has meant reduced harvest. Buyers are hoping harvest will start to improve in February but demand still remains high.

  • Fresh Cod & Haddock – As the weather improves buyers are expecting availability on Cod and Haddock to improve this month.

  • Bass & Bream – Good availability on both with steady pricing.

  • Tuna & Swordfish - Good landings of both species and prices hopefully easing.

  • Frozen Whitefish – Raw material increases have mainly been driven by the exchange rate as product traded in USD. So increased on coated Cod, Haddock and Pollack.

 

FRESH SALMON

Throughout January Salmon prices have remained stable at record levels. For farmers the environmental and biological conditions remain positive – water temperatures warmer than usual promoting good growth with below average levels of sea lice and disease. Healthy growth can encourage farmers to allow the Salmon to grow on and maximise higher sell prices on the larger fish.

Particularly poor weather (gale force winds) is however affecting harvesting and land based transportation and this remains the short term factor helping to maintain lower harvest volumes (YTD down 4% YOY) and high pricing. The difficult weather conditions continue to affect all regions - Norway, Scotland and Chile. At some point in February the weather will improve and this should translate into more volume and price easing. However, the other challenge is that the industry is facing ever increasing global demand which could keep prices high.

FRESH WHITEFISH

The UK has suffered with severe storms in January which has impacted the availability and price of all whitefish. With the weather hopefully calming down the buyers are expecting the availability to improve and prices to steady.

Skrei Cod – It is the start of season for this fish sustainably caught by small day-boats in Norway. Catch it now as it’s only available until April.

FRESH TUNA & SWORDFSIH

Good landings of both species and prices are easing. We will be getting products from the Maldives, Sri Lanka, the Seychelles and India.

SEASONAL FRESH FISH

- Plaice: Fish are coming out of spawning so we should start seeing the quality improve and prices steady.

- Dover Sole: If weather stays calm we should see better landings on Dover Sole.

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From the latest updates on what's been landed where through to weather reports and customer reviews. M&J Seafood keeps you close to what's breaking in the industry.