UK red salmon prices are set to increase following a lower than expected pack of 213g in Alaska, the main source of supply to this market.
So far, buying has been minimal as UK importers have adequate stocks to see them through until the early part of next year, but this does not seem to deter packers who are talking dollar prices 15% higher than last year.
Some of this increase will be offset by sterling's strength against a weaker US dollar. Sources in Seattle say there were fewer 213g packers in relation to 418g due to a heavy run of fish in Bristol Bay at the start of the season.
The higher prices will not affect the pre-Christmas promotions which were agreed some weeks ago using last season's stock.
Pink salmon fishing has been disappointing so higher prices will be inevitable. This will mean the end of the promotional price of 49p for the 213g.
Most retailers have been using the bogof strategy selling at 98p, which moves far more product. This popular marketing ploy has resulted in some distortion on market statistics, as companies report sales in different ways.
The annual visits by retailers to Seattle and Vancouver have been delayed this season, evidence of current stock positions and the lack of need for shipments of own labels before 2003.
{{CANNED GOODS }}
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