Tuesday, October 19, 2021

Alaska Snow crab quota slashed 88% Combined with Bristol Bay red king crab fishery closure, losses expected to top $200M Cordova Times by Margaret Bauman - October 18, 2021 Even given early notice that there would be no Bristol Bay red king crab fishery, harvesters figured that more bad news was coming on the snow crab harvest quota, a staple for the commercial crab industry fishing the icy waters of Alaska. https://www.thecordovatimes.com/2021/10/18/snow-crab-quota-slashed-88/ West Coast An inside look at Seattle’s fishing industry Seattle Times by Seattle Propeller Club - October 18, 2021 October is National Seafood Month, making this the perfect time to dive into a look at the robust systems supporting the fleets that catch our fish. This unique network of professionals, ranging from shipbuilders to pipe fitters to marine electricians and more helps fuel the local economy and offers a range of career options. https://www.seattletimes.com/sponsored/an-inside-look-at-seattles-fishing-industry/ International ANALYSIS: Assessing the Snow Crab Market Following Alaska Quota Reduction Urner Barry by Janice Schreiber - October 18, 2021 With the announcement out of Alaska last week that the Bering Sea Snow crab quota will drop 88 percent to 5.6 million pounds, market participants continued to see an increased buzz around crab products. The Canadian snow crab market trended slightly higher on both 5-8s and 10-ups on Thursday out of both Newfoundland and the Gulf. Most participants reported they were closely holding current inventories and putting some customers on allocation. Prior to the scientific findings in Alaska where recruitment of snow crab was found to be very low, hence triggering the massive drop in quota; the market on snow crab had been fairly flat. Some participants reported lower offers than listed quotations prior to these findings, however, since the scientific findings were made public and the official quota released, activity lower than quotations is reported to have ceased. Overall reaction to the quota reduction in Alaska’s 2021/2022 season is reported to be causing upward pricing pressure in the market and many do report increased sales activity. On the Russian snow crab side, the market remained steady this week, but participants here have also reported an uptick in sales activity and inquiries. Again prior to the scientific findings in Alaska, this market was reported to be stagnant with a few lower offers floating around. This situation has tightened up as well. With almost 26 million pounds imported through August, Russian snow crab continues to play a more prominent role; Russia’s market share stands at 22 percent...

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