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 BLACKCOD MARKET OVERVIEW
Blackcod Market Analysis
Sablefish is one of the most highly valued deepwater fishes in the world, particularly in Japan where most of the world catch is consumed (see note 2). Over the last decade, the demand has been constant while the supply has been steadily declining due to the declining biomass and catch of sablefish, especially in the US, which dominates the market (see note 3). In 2005, the current shortfall of sablefish is estimated to be over 20,000 tonnes. (see note 4) At the current market price of US$5.03 per pound, this shortfall is valued at US$224 million per year (see note 5). Given this significant opportunity, ISL plans to rapidly expand into the onshore and ocean farming of sablefish. Given the current sablefish market price and production costs, a US$5.3 million investment (for hatchery and farm production over four years) is anticipated to produce approximately US$41.0 million in new revenue through 2009.
Note 2: Sonu, Sunee C. The Japanese Sablefish Market. U.S. Department of Commerce, National Oceanic and Atmospheric Administration, National Marine Fisheries Service.
Note 3: DFOWeb, NPFMCWeb and Pacific Fishery Management Council Website.
Note 4: ISL analysis of current sablefish market conditions.
Note 5: ISL analysis of current sablefish pricing and market conditions.
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 SCALLOPS BLACKCOD  MARKETING OVERVIEW GENERAL FISHERIES |
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