June 21, 2013 — The latest setback to the Russian Okhotsk pollock fishery’s Marine Stewardship Council certification seems to have taken many in the industry by surprise, and further delays might force some buyers to draw up their plan B.
“There was not a single buyer in Europe who expected the adjudicator to accept the objections,” said a US pollock executive, who said he was equally stunned by the ruling.
“It is also not possible to [fully understand the market/price impact until] we know the final decision of the adjudicator.”
A European executive echoed the disappointment expressed by the Pollock Sustainability Alliance.
“I’m disappointed as well about this development,” said this executive, who focuses mainly on Russian pollock. “To me it seemed Intertek [Intertek Moody Marine, the certifier] thought all was OK and gave us opportunity to believe the certification would come.”
On the one hand, European buyers Undercurrent spoke pointed out that the latest ruling might only mean a delay of a few weeks.
If the fishery is given the go-ahead by mid-July, there will be no impact on the market, they said.
“The delay of mid-June to mid-July is very disappointing for the Russian pollock catchers, but we don’t lose any time,” said the European executive. “We won’t close A season agreements before October this year anyways.”
On the other hand, a failure to certify this summer “will have a big impact”, he said.
Others agreed. “The MSC certification will have an influence, but it’s too early to say whether it will go up or down,” said a European buyer of pollock blocks.
The US executive was, as to be expected, the most bullish. The block market will most certainly firm if there is not soon a decision regarding the MSC status of the Russian pollock fishery, he said. Nevertheless, “It’s too early to say when prices will start moving and what levels it will reach,” he said.
Read the full story at Undercurrent News