SEAFOOD.COM NEWS by John Sackton — March 26, 2015 — After a rollar coaster ride in pricing that saw black cod fall from a wholesale price of around $11 in 2011 to less than $7 for H&G fish last year, it appears that inventories have cleared out and prices for new season black cod to Japan have edged upwards.
Minato-Tsukuji reports that the first Japanese contract with a Sitka processor has been settled at a price of $7.25 for 5/7 size, $6.80 for 4/5 size and 6.35 for 3/4 size all C&F Japan. So far other major Japanese buyers have not followed suit.
This price is '20-30 cents higher' than expected, according to a Japanese trader.
Last fall, large fish was quoted around $7.00.
Prices to fishermen in Southeast Alaska are reported at $5.25 for 5/7, $4.50 for 4/5s, and $3.75 for 3/4s.
Inventories have mostly been worked down, and there appears to be good interest in black cod. In 2013 about 70% of US production went to Japan. This year there is some indication that US restaurant demand may improve, and less fish might go to Japan, especially the larger sizes.
US white tablecloth restaurans, who are users of sablefish, are among the best performing restaurant sectors at the moment and are not experiencing the same downturn as casual chains.
This story originally appeared on Seafood.com, a subscription site. It is reprinted with permission.