Market Update - Nov 2020

KING CRAB

  • Demand on king crab has been at unprecedented high levels this year, and combined with COVID-related production slow downs and raw material shortages, supply is very low, and pricing is very high

  • Pricing is at all-time highs on reds, with golden king crab still strong, though trailing the reds

  • Alaskan reds are running smaller this year, sizing is primarily 12/14 and 16/20 – while this will leave the current market short on larger sizes for this year, it is potentially a good sign for the future health of the fishery, as there are new recruits, and next year’s quota might be improved

  • By late November/early December, supply on mid-sizes (9/12 – 16/20) may loosen up a bit from the current very low inventory levels, but large sizes of reds (6/9 and larger) are not expected to land until around January


WILD PACIFIC SALMON

  • Pink and keta catches this year were very low, and salmon raw material is expected to be in short supply this year

  • This pushes pricing up significantly – H&G prices for this year are currently up around 30% over last year, and are still increasing as already short supply tightens up further

  • Alaska’s total catch is at around 85% of predictions for the 2020 season; the Alaskan keta salmon harvest is the lowest since 1979, down 61% over last year

  • Russian catches have also been very low, and estimates are that the total wild Pacific salmon catch for both Russia and Alaska combined will be at around 60% of last year’s catch

About Toppits

301 Chrislea Road

Vaughan, ON  L4L 8N4

Phone: 905-850-8900

Toll Free: 1-888-401-3474

Email: marketing@toppits.com

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