Beacon supply partner, M&J Seafood reveal the current trends and news and from the seafood industry this April.
If you're planning to include salmon, cod, haddock or lobster on your menu this Spring, then this is a must read for you.
The rapid price inflation that we saw in the last few months, with spot fish prices rising to the highest level in years, was caused by a combination of various interlinked factors. The shortage caused by the overharvesting of Salmon infested by sea lice at the end of last year is affecting stocks in Norway and the pancreatic disease is still a major issue. Supply of Scottish Salmon is only just keeping up with demand even though Scotland did not lose as much Salmon through disease as Norway. The analysts also report that the cold weather in Norway is already reducing sea temperatures and feeding, which in turn has a negative impact on fish growth. In addition to above, an algae bloom has hit several areas of Chile’s farming area – it is thought that a total of 180,000 tons will be lost against the 2016/2017 estimates, reducing country’s production to 400,000 tons. This is similar to the tonnage that Scotland produces and will have an effect on Salmon prices in Europe. We expect for the prices to remain high for the remainder of the year. Cod
The Cod fishing season in both Norway and Iceland will be in full swing, with good supplies throughout the month. The fish caught in April tends to be larger in size and this is mainly due to the areas the boats are fishing in. Weather permitting, our Baltic Cod should also be available but this fishery is in spawning during April. Haddock
At this time of year Haddock feeds on Capelin (small forage fish), which may make their flesh softer than normal. There should be no issues with supply from neither Iceland nor Norway though. Farmed Fish
As a result of the unexpected at this time of year extreme weather conditions in Turkey, there will be limited availability of smaller sizes Sea Bass which include 200-400g fish and 80-100g fillets. We don’t expect for the stock situation to improve until new season starts in September. It is also expected that prices on 400g+ fish will increase as demand for other sizes grow. Sea Bream supply will also tighten as we head towards the new season in June and this is already reflected with prices rising gradually.
There will be shortages of farmed Turbot grades 400-600g, 1-2kg and 2-3kg; this in turn will cause prices to rise. Farmed Halibut from Norway will be in plentiful supply.
To view the full report from M&J Seafood, please click here