It is important to note that while Pacific Halibut stocks are showing slight improvements, it remains under pressure due to low recruitment, declining size-at-age, and at historically low levels.

In the latest stock assessment, IPHC’s interim management procedure (which is their temporary structured framework to guide setting fishery limits) specifies a fishing intensity to the F43% target as a reference that would mitigate risk of further stock decline.

A reference F43% fishing intensity level would equate to a Total Constant Exploitation Yield (TCEY) of 39.8 million pounds which would be 11% higher than last year’s. It is important to note that this is not final. The final decision on this season’s fishing limits will be made on January 31st at the 101st session of the IPHC Annual Meeting in Vancouver B.C. Canada.



Last year the commercial Pacific Halibut fishery experienced what may be the lowest harvest in 100 years having harvested only 75% of the fishery limit. In previous years, it has always been anticipated that at least 90% of the limit would be harvested, however with back to back years of sub 5-year average harvests, it’s anyone’s guess how the 2025 season will end.

What we can anticipate is that this year will be another year of lower Pacific Halibut supply which will more than likely translate to higher prices. As with previous years, the fresh market will dominate, and frozen supplies will be limited.

Our recommendation is to make your precommitments to secure your Halibut requirements for this year.

Alternatively, buyers could start looking at Atlantic Halibut, as the total allowable catch for Canadian Atlantic Halibut has been steadily increasing year-over-year, almost nearing levels of Pacific halibut landings this year.

Keep tuned-in to our 3-Minute Market Insight for further updates on the Halibut market - and just as another reminder, the Pacific Halibut fishing limits decision will be announced on Friday January 31st.



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