One major factor continuing to dog the Pacific halibut market is the steady decline in annual quotas; this year’s quota is set at 54.1 million pounds, down 10.4 percent from 2008 and 17.7 percent from 2007.
In Japan, the cherry blossom period coincides with the beginning of the holistic and fiscal year. Welcoming parties are often opened with hanami or flower viewing. Demand for sashimi tuna usually peaks throughout Japan during this time.
Prices of all groundfish species declined sharply in the first half of 2009. The main reason was lower demand by institutional clients. In addition, cheap cultured fish – pangasius and tilapia – create strong competition in the market.
The groundfish market continues to be well supplied and prices are declining. More availability of Alaska pollack from Russia has created a downward spiral for groundfish prices. Demand is not expected to improve in coming months.
The economic crisis continues to influence the European shrimp market. Generally, because of their relatively high price, sales of shrimp products suffer during an economic crisis due to loss of purchase power which leads to less eating out, the main outlets for shrimp in all consuming countries.