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3-Minute Market Insight

EP 685 | AIRED 04/08/2024

Sablefish (Black Cod) Update: TAC’s, Slower Start Lower Prices, Exports to Japan on the Ris

April 8th, 2024 - The Sablefish (also known as Black Cod) fishery in Alaska kicked off mid-March, however the pace of the fishing is about half that of the same time last year.

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However, despite lower landings at the start of the season, ex-vessel pricing seems to have dipped as well when compared to previous years.

Although dock pricing is low, Q1 is typically when pricing is at its lowest point during the year. Prices historically climb throughout the year peaking over the summer months.

The total allowable catch for Sablefish in Alaska is 60.79 million pounds. Although this is down about 1.2 million pounds from 2023, the tac nowadays is over double that of a decade ago.

Last year, about 37 million pounds of Sablefish were harvested in Alaskan waters which is the second highest in a decade.

Sablefish (Black Cod) Update: TAC’s, Slower Start Lower Prices, Exports to Japan

As Sablefish is harvested all along the west coast, a significant amount comes from Washington, Oregon, and California.

Pricing and catch this year are also trailing slightly behind previous years however these 3 states are known to bring up to 13 million pounds annually for the market.

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Sablefish is harvested in British Columbia Canada and its TAC last season was set around 2600 tonnes.

Regarding exports, last year the US exported about 26 million pounds of Sablefish to Japan, an amount that has been on the rise year over year. Canada exports about 1.5 million pounds to Japan annually.

Our recommendation is to review your Sablefish requirements for the year and to secure product accordingly while keeping in mind the pricing and export market trends seen throughout the year.

Sablefish (Black Cod) Update: TAC’s, Slower Start Lower Prices, Exports to Japan

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