Weekly Seafood Report

Tim Sloan V.P. Sales & Marketing E.Frank Hopkins Co.,Inc. 215-468-9190 215-468-9189 Fax 215-588-8017 Cell Tsloan@hopkinsseafood.com

Tim Sloan
V.P. Sales & Marketing
E.Frank Hopkins Co.,Inc.
215-468-9190
215-468-9189 Fax
215-588-8017 Cell
Tsloan@hopkinsseafood.com

1) Good News for the Restaurant Industry, according to the Commerce Department, sales in July were up only .7% compared to June but were up 9% compared to July 2014.
2) Previously unopened areas have not produced the quantities of Sea Scallops that industry officials had expected. Buyers are loading up to make sure they have product to carry them through the rest of 2015. Since the new season started in March, the US scallop harvest is down 20% compared to 2014 & 44% from the 5-year average. Experts predicted this season to yield around 45 million pounds which would have been an increase of 36% compared to 2014. The season will run through February of 2016, typically landings steadily decrease heading into the fall & winter. Imported product from China & Peru have declined also. Shipments from China are down 47% while Peru is down 67% compared to last year.
3) Fluke-NJ was closed Sunday Aug 16 for harvesting for the next 2 weeks. Maryland & Rhode Island are keeping us supplied with Sushi Grade fish but catch numbers are low keeping prices extremely high. In fact our Wild Caught Alaskan Halibuts are right around the same price point.
4) Study done by Australian scientists uncovered daily doses of Fish Oil/Omega-3 Fatty Acids may prevent Psychosis/Schizophrenia in patients.
5) The US Department of Commerce may increase Red Snapper allocation quotas in the Gulf to recreational fishermen which is obviously not good new for the industry.
6) Industry officials from Labrador & Newfoundland are hopefully of an increase in Cod quotas based on scientific data by the Marine Research Institute.
7) Prices of Norwegian Whole Salmon have finally come down after increasing for the last 6 weeks. However a large Norwegian salmon producer has cut their expected harvest by 2,000 MT because of a colder then normal summer which slows the salmon’s growth. Norway is gaining market share in the US as prices are reasonable & consumers are selecting the higher fat content & more highly regarded fish.
8) Volume for Shrimp imports to the US for the 1st half of 2015 are on pace to be the highest ever. Contributing factors are lower prices, lower demand from Japan & increased overall production due to Early Mortality Syndrome being held in check. These price decreases are forcing wild suppliers to lower their prices to remain competitive; expectations are for this trend to continue until the fall. Buyers are looking to procure more inventory before the harvesting stops in India in September.
9) Supply shortages in the Global Surimi market will more then likely cause prices to increase by about 8%.
10) The Peruvian Anchovy fishery is a healthy resource, which is very important as Anchovies are mostly used for fishmeal for farmed species.
11) The quality & availability of Fresh Farmed Species like Arctic Char, Catfish, Striped Bass, Rainbow Trout, Tilapia & Salmon remains outstanding.
12) According to Lobstermen in Canada, a recent heat wave there has forced Lobsters to head north seeking colder water. This is forcing them to take extra precautions to keep their catches alive. Overall prices remain higher for live product as well as processed meat because of limited landings due to the brutal winter. New production from Brazil & other Central American countries are arriving daily.
13) Crabmeat-we have ample supplies of our Indonesian Bay Colony & our VIP brand from Vietnam available, prices are very aggressive.
14) Long Line Fish-availability will be tight next week because of the moon entering the Waxing phase on Saturday August 22nd.

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