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Fish & seafood outlook

Fish & seafood outlook

What's happening in the market in August

MARKET UPDATE FRESH:

1. FRESH BREAM Due to covid the farmers have had to leave the fish in the water longer which has driven up costs. Also with the increase in Seabass price this has increased demand for Bream again pushing up the price.

2. FRESH COD & HADDOCK There is reduced availability on both Cod and Haddock with not enough fish being landed onto the markets. August is also the holiday season for Norwegians when less fish will be available, we are therefore seeing price increase on both cod and haddock with more significant increase on the haddock price. Fishermen are also managing their catch as we wait for the new quota year to start in September when we should see availability improve.

3. FRESH LEMON SOLE Buyers are seeing good availability on Lemon sole, so prices should ease this month.

4. FRESH SALMON Buyers are seeing a steady supply of salmon being harvested this month so we are able to keep our price stable for August. We also face a challenge in our factories of staff shortage due to covid isolations.

5. FRESH TURBOT Turbot are in season and buyers are seeing good landings.

6. FRESH LOBSTER The availability of native lobster has been very difficult this year, we are hoping to see this improve as we go into August. Fishermen are anticipating that at the start of the season the smaller sizes lobsters will be more readily available, as we go into September we should see more availability on the larger sizes.

7. FRESH BRITISH CRAB Unfortunately we are still seeing a real issue with availability of Crab, this has been driven not only by reduced catch but also staff shortages in the factory where the crab is hand picked.

MARKET UPDATE FROZEN:

8. FROZEN COD & HADDOCK The cost of Frozen and Sea cod & haddock has slowly been rising due to reduced fishing activity. With the IQF range of cod and haddock we are seeing an increase in the cost of processing in China due to high demand and also increased freight charges.

9. NUTAAQ COD We have a great product to offer which is called “Nutaaq Cod” this premium quality cod is caught in the fresh clean watersof West Greenland, the local fishermen are able to selectively catch the cod and get to the factory to process within 2 hours. The cod has a fresh taste and clean white fillets, and offers a frozen fish that locks in flavour.

DOWNLOAD OUR FULL AUGUST 2021 UPDATE

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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.