Three years of huge returns in Bristol Bay created a surplus of sockeye in the market.
Towards the end of the season, processors announced a base price of just 50 cents per pound – the lowest price in decades, when adjusted for inflation.
Friccero said he usually leaves shortly after the peak anyway, but he wasn’t the only one packing up before August. “To get the lowest price you’ve ever gotten while you’re working just as hard as you ever did, and other expenses like fuel have gone up – it puts fishermen in a really tough position,” Knapp said. “I think processors would also say that they’re in a really tough position and their companies are on the line.”
The Alaska Seafood Marketing Institute is funded by the State Legislature to stir demand for Alaskan products. Greg Smith, the institute’s communications director, said there just isn’t enough demand to keep up with the glut of fish. The seafood marketing institute received an extra $5 million in funding this year to better compete in global markets. But even with extra funding, staff are unsure if their short-term efforts like retail displays and working with food writers will help much. Smith said one of the institute’s bigger projects is investing in new markets across the globe.
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