Undercurrent News Expands Japan Price Assessments for Chilean Coho Salmon

Undercurrent News has recently broadened its wholesale price assessments for Chilean coho salmon in Japan by including the six-to-nine-pound (6/9s) category. This change reflects the evolving dynamics of the market, which is the largest for this species globally.

A Comprehensive Benchmark for 6/9s

The new price assessment went live last month, establishing an additional benchmark for frozen headed-and-gutted (H&G) Chilean coho. Previously, Undercurrent’s focus was solely on the 4/6s size, which has historically dominated this market segment.

Shift Towards Larger Fish

The 4/6s category became the industry standard due to long-standing preferences among Japanese importers for fish sizes that are comparable to Alaska sockeye. In response, Chilean producers adjusted their harvest programs accordingly.

However, recent industry trends indicate a significant shift, with Chilean salmon farmers increasingly focusing on larger fish sizes such as 6/9s. These larger fish now account for over 70% of total harvests, marking a notable transition in production strategies.

Market Demand for 6/9s

As demand for larger sizes grows, Japanese buyers are also adapting their purchasing practices. Undercurrent’s inclusion of the 6/9 size in its assessments addresses this shift and provides valuable insights for stakeholders in the industry.

Processing and Retail Dynamics in Japan

In Japan, imported frozen H&G coho are typically processed into salted fillets, known locally as teien, before being re-frozen for distribution to retailers. At the retail level, supermarkets thaws the fillets in-house, cutting them into portioned “kirimi” packs for consumer sale.

Expanding Markets Beyond Japan

While Japan remains the primary market for both 4/6s and 6/9s, there is a growing trend of shipping larger fish, including 6/9s and 9-ups, to Southeast Asian markets. This expansion reflects increasing demand for larger fish in the region.

Commitment to Transparency and Accuracy

Undercurrent’s Japan coho assessments are based on wholesale prices quoted by importers to primary wholesalers and major secondary processors, excluding Japan’s consumption tax. The organization updates these price assessments monthly, typically around the middle of each month.

The recent expansion aims to enhance transparency and accuracy in tracking Japan’s wholesale coho prices, adapting to the evolving market dynamics.

Access to Pro Account

For those interested in gaining comprehensive insights, click here for trial access to a Pro account. This account provides full access to Undercurrent’s pricing platform, which includes proprietary assessments for farmed salmon, crab, shrimp, scallops, whitefish, lobster, and other vital seafood commodities.

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