July 18, 2019 — A bumper sockeye run from the US state of Alaska’s prolific Bristol Bay fishery is thought to be putting downward pressure on Canadian farmed prices, the Norwegian investment bank Nordea believes.
In a recent written comment, analyst Kolbjorn Giskeodegard wrote that the seasonal drop in farmed prices is typical during the second quarter as wild stocks come online. However, this year’s unexpectedly strong sockeye return in Alaska has put some 45,000 metric tons of sockeye above the preseason forecast of 80,000t to 85,000t.
Canadian farmed prices have stayed closer to $5 per kilogram from the April to June 2019 period, below last year’s $7/kg average during week 22 of the year