A salmon glut has sent prices plunging, and economists don’t know when they’ll recover

KTOO ^ | August 28, 2023 | Brian Venua, KMXT - Kodiak, AK

[Red Badger]

[butlerweave]

Our cats love Salmon and now they can have MORE ,LOL

[Worldtraveler once upon a time]

---- "“50 cents per pound” at the dock -> ~$10/pound at the store."

Middle men. Of course fish need to be processed to reach point-of-sale, but that does not explain the very large discrepancy between these numbers. Middlemen become entities which become top heavy with management which sees themselves as the most important part of the chain.

The most important parts of any chain is the producer / farmer / fisher and the consumer.

Some curiosity is in order....

StarKist Tuna is a brand of tuna produced by StarKist Co., an American company formerly based in Pittsburgh's North Shore that is now wholly owned by Dongwon Industries of South Korea. It was purchased by Dongwon from the American food manufacturer Del Monte Foods on June 24, 2008, for slightly more than $300 million. In 2021, the headquarters were moved to Reston, Virginia.

Source: https://en.wikipedia.org/wiki/StarKist

One finds ..."the average a Dongwon Ga salary in the United States is $57,032 per year," while Kim Jae-Chul is doing quite well. $2.5B well (2016) and among Korea's 50 Richest Net Worth.

Source: https://www.forbes.com/profile/kim-jae-chul/?sh=6547dc013b72

From Chilean aquaculture and more, there is competition aplenty. Middle men everywhere.

[Fiji Hill]

My Mom used to make Salmon Loaf out of canned salmon. Us kids hated it. To this day I love fresh wild salmon, and hate canned salmon.

In the 1950's, we ate a lot of salmon cakes made from canned salmon, which was probably similar to the salmon loaf you had. This was usually a lunch meal. I liked them, but not nearly as well as salmon steaks, which I first encountered when I was an adult.

[digger48]

My sis sent me some frozen wild caught salmon and some smoked salmon

I’ll eat the smoked stuff, cats will likely get the rest

Salmon really doesn’t do it for me.

[Gil4]

Well, someone figured out how supply and demand and opportunity cost form a natural feedback loop.

We used to have salmon all the time, but it got too expensive. We might have to see where the store prices are now.

[Rusty0604]

Thanks!

[baclava]

Pink salmon is Dogfood in Alaska, lolololol

[erlayman]

Is this only about Bristol Bay Sockeye Salmon ? The run has been slowing for the last month. Suppliers are dropping frozen fillets as well although it hasn’t shown up in prices that are still 15$/lb. Fortunately there is still Orca Bay...for now. :(

[EQAndyBuzz]

DO NOT EAT THE TILAPIA!

[woodbutcher1963]

I am surprised that the price at the store has not dropped too.

I always try to buy US caught Sockeye Salmon. It was still over $10/pound last week here in NH. I realize there is processing and freight to get it here. However, I would think it should be under $5/pound.

The price of lobster here in the supermarkets is roughly double what the fishermen gets per pound over on the coast. IF there is such a glut of salmon, you would think the retail price would be a lot cheaper.

[iontheball]

Well, someone figured out how supply and demand and opportunity cost form a natural feedback loop.
_____________________________
Fishermen are not as bad off as farmers. If the price is too low you just throttle back your fishing efforts until you strike a satisfactory medium. The more fish that are uncaught hopefully will translate into more fish later. With a farmer, grain prices usually fall at harvest time, but the farmer has to harvest the grain or it will spoil in the fields. The only alternative the farmer has is to pay the middleman a storage fee in hopes the price will go up and he can later let the grain go to market.

[Species8472]

Lucky I live in Alaska! I can fish 15 minutes from my front door!
Pink salmon is for tourists and children to learn on, but it is really only good for dog food!
FYI Norway has embraced salmon farming in a big way. It has killed off the wild populations through disease and genetic problems.
Don’t fall for the hype! The farmed stuff is junk! Don’t eat it!

[whistleduck]

Same experience. Lots of salmon patty, salmon casserole. No actual salmon filet until on my own (and was still pricey for regular budget). I long for the 50s-even canned salmon!

[sasquatch]

My cousin used to fish out of Dillingham. He was Harbormaster for a while.
Re: fish....If I didn’t catch it, I don’t eat it.

[UnwashedPeasant]

Wait until the GMO salmon escape into the wild.

[Honest Nigerian]

I like the tag line!!
And we avoid farm-raised fish.

[Lizavetta]

Is tilapia garbage fish in general or garbage fish because it’s farm raised?

[KC_for_Freedom]

Of course their sled dogs are more important than mere pets

[hinckley buzzard]

Historical note: Tilapia was farmed in ancient Egypt and in the Roman empire. It was plentiful in the Sea of Galilee, appearing to be the fish referenced in the Gospel, used to feed the five thousand by Jesus.