SEAFOOD.COM NEWS [Urner Barry] by Jim Kenny — July 24, 2013 — The scallop market continues to extend all-time highs given a quota cut that will likely reduce Fishing Year 2013 landings by 11 million pounds or 30 percent.
The Atlantic Sea Scallop season runs March 1 through February 28 each year, with this year’s management plan calling for changes to days-at-sea allocations, general category fishery allocations and the area rotation schedule.
Each year, fishing vessels are assigned both days-at-sea and a number of access area trips. In the last five years, vessels have been assigned between 32 and 37 days-at-sea, and 4 to 5 access area trips for a total haul between 52 and 62 million pounds.
However, for Fishing Year 2013, the rules have been substantially revised due to lower biomass in the scallop rotational access areas. While vessels will be allocated similar open area effort levels, 33 days-at-sea for full time vessels, only two access area trips will be allowed at a reduced limit of 13,000 pounds compared to four trips at 18,000 pounds in 2011 and 2012. This action could effectively reduce the scallop take from 54 million pounds in FY2012 to 43 million pounds in FY2013.
Source: Urner Barry July 2013 Scallop Insider's Report
The impact on the market for scallops has been significant. Currently topping $14.00 lb, the market for Dry U10’s stands 25 percent higher than year ago levels, and well above any previous highs. With the management plan in-place, observers see little chance of relief in FY2013.
This story originally appeared on Seafood.com, a subscription site. It is reprinted with permission.