06/07/2020 by Gunn Strandheim
Higher prices in herring markets
The general impression of the herring markets is that consumer demand has strengthened, leading to better prices.
Calculations of the stock size of North Sea herring show no room for increasing the TAC (total allowable catch) for 2021. As no strong year classes have been observed the past years the spawning stock is expected to fall the coming years – meaning decreasing quotas.
Of other herring stocks, The International Council for the Exploration of the Sea (ICES) advice zero catch of herring in Skagerrak, Kattegat and the Western Baltic stocks. These herring stocks are outside safe biological limits as the fishing pressure has been too high.
In Norway, first sale prices and landed volumes of both North Sea herring and NSS herring increased during the first half year. As several important herring stocks are decreasing, we might expect lower supply of herring the coming years. This at a time when relatively cheap proteins like herring will be in greater demand.
The COVID-19 pandemic and the setback in many vulnerable economies causes decreasing purchasing power in large populations. In such times cheaper and less exclusive products will be preferred and we believe that herring is one of them. The price trend for herring the coming months appears to be stable or increasing due to the supply and demand balance.
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Image: hlphoto via Shutterstock.com