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Record Pinks creating market glut

By Associated Press 9:17 AM February 25, 2014

Wholesale prices for cases of tall pink salmon cans topped $100 in 2012 and 2013.

JUNEAU, Alaska (AP) – State officials say Alaska’s record pink salmon harvest in 2013 could create a market glut that will drive prices down for several years.

KFSK-radio reports (http://bit.ly/Mrpx1Y) the state’s division of Economic Development sees a glut in supply after the 2013 harvest, bringing downward pressure on prices.

Alaska fishing fleets caught 219 million pink salmon last year. That helped fill an estimated 4 million cases of tall pink cans and left companies with almost 5 million cases in inventory.

Wholesale prices for cases of tall pink salmon cans topped $100 in 2012 and 2013, more than double what they were a decade ago.

Not all the pinks end up in cans. Some are frozen and shipped overseas for more processing.

___

Information from: KFSK-FM, http://www.alaska.net/~kfsk/

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

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