THE FISHERMAN, AUGUST 24, 1998
Sockeye price in Japan the highest since 1989
For fishermen coastwide, the toughest part of a possible early end to the season was having to watch this year's sockeye prices go by without having any fish to deliver.
Prices both on the grounds and in international markets took an upward track in early August, rolling up increases not seen in years. It's put a new price tag on the value of the salmon industry, confounding some of the views of federal government's economists who have argued that the plentiful supply of farm salmon would prevent any increases in wild salmon prices.
The shortage of sockeye was driving the increases, as another collapsed sockeye run to Bristol Bay compounded the shortfall
the public, the majors were paying $2.40/lb. down payment for sockeye during the 30-hour opening Aug. 5 and 6.
Prices to the troll fleet were even better, averaging $4-
Tsukiji Market Wholesale Frozen Salmon prices, July 29, 1998
That compares to ¥1,400 for Canadian sockeye.
UFAWU-CAW president John Radosevic said the price increases were an indication of the real value of the salmon industry, and urged
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ITEM PRICE PER
KG
Canadian sockeye, 4-6 lb. ¥1,400
Bristol Bay sockeye, 4-6 ¥1,150
Copper River sockeye, 4-6 ¥1,250
Russian sockeye, 4-6 ¥1,250
Chilean coho, 4-6 ¥850
Chilean trout, 4-6 ¥700
Source: Bill Atkinson News Report
Japanese Price for Canadian frozen sockeye
Japanese Yen
1500
1200
900
600
created by reduced returns and restrictive fishing in B.C.
Seiners heading into' J.S. McMillan's Vancouver plant to deliver after the 15 hours of fishing in Johnstone Straits Aug. 3 and 4, got the good news that the company was paying $2.80/lb. to the boat. Crews were being settled at $1.26/lb., a crew share not seen in a decade.
McMillan's was out in front of the other major companies, however, and was paying the full settlement price as part of a weekly pay arrangement stemming from its recent receivership. B.C. Packers, Canadian Fish and Ocean's were sticking to the $ 1.20 minimum down payment, although everyone was expecting adjustments later.
But gillnet prices were closer to that higher mark from most companies. In the North, although fishing opportunities were few after the area was red-zoned July 19, down payment prices moved up to $2.50/lb. from the $2,00 level set at the beginning of the season.
In their early August openings, Area D gillnetters were also getting between $2.60 and $2.95 downpayment from the major companies and at least one cash buyer was paying $3.25/lb.
In the Fraser River, as cash boats lined the dock at Steveston and many fishermen sold direct to
$4.40/lb. for troll sockeye as the restaurant trade and retail markets vied for a share of the increasingly scarce sockeye.
The biggest bidders were on the Japanese markets where even a shaky yen has not held back the price of frozen sockeye, which has been climbing steadily since May. The latest edition of Bill Atkinson's New Report lists frozen Canadian net-caught sockeye at the wholesale price of ¥l,400/kg on Tokyo's Tsukiji Market. That's the highest level it has reached since 1989.
While the weak yen — currently at 96.73 to the loonie — knocks that value down in Canadian dollar terms, the wholesale price still works out to $6.57 a pound. There's no reports yet of prices paid to Canadian companies, but Alaskan packers were concluding deals for Bristol sockeye at US$3.35-aboutC$5.10.
The rising momentum has pulled up the price of Chilean farmed coho, which along with Chilean farmed trout, is the main competition in Japan for frozen sockeye. But it is a long way back, at ¥850/kg, showing that sockeye still commands a price premium.
The premium for Canadian sockeye has also apparently returned since Bristol Bay fish is listed at ¥1,150/kg and even Copper River sockeye has a wholesale price tag of ¥1,2 50/kg.
Ottawa to take notice.
"Ottawa has been telling the public that because of low prices and a glut of farm salmon the commercial fishery is valueless and isn't worth saving anyhow," Radosevic said. "These price increases tell us that people in Canada and abroad want wild salmon and are prepared to pay for it."
He said the prices both at home and in the international market "demonstrate that there's a lot of value in this industry and the potential of more in the future.
"The federal government should be putting the same vote of confidence into wild salmon that consumers are," he said.
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