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.
Despite quota cuts, halibut prices fall
Economy chips away at prices, demand
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.
As a result, U.S. Pacific halibut landings have dropped gradually each of the past five years, from 79.1 million pounds in 2004 to 47.3 million pounds in 2008. Landings continue to fall, with the catch through Sept. 17 at 34.5 million pounds.
“Supply and landings are down because we’ve been ratcheting back on allowable catch for the last few years,” says one Homer, Alaska, fisherman. “We’re between big year classes right now, with some speculation that within the next few years, by 2013, say, we’ll be on the upswing again because the 1999-2000 year class is the largest ever recorded. It used to take 8 to 10 years for harvestable commercial fish, which must be 32 inches head-on, and now it’s taking upward of 12 to 13 years.”
The economy is also affecting halibut prices and demand. Alaska fishermen are getting about $3.35 for 10-20s, $3.60 for 20-40s and $3.80 for 40s-and-up, down more than $1 a pound from a year ago, according to the fisherman. At wholesale, fresh whole halibut is fetching as little as $5 for 10-20s and as much as $5.75 for 40s-and-up, f.o.b. Seattle.
“One of the differences this year is you’re seeing it more in grocery stores because the price is down and white tablecloth restaurants have taken a hit with the economy,” says the fisherman. “A friend was just in Anaheim, Calif., and saw halibut at $7.99 for steaks. Retreat one year and that would have been $12 or $14 a pound and $17 to $20 for fillets.” — Mercedes Grandin
October 2009
Source: seafoodbusiness.com
