As the US east coast sea scallop fishing season ramps up, two of the world’s biggest scallops companies see prices at a plateau for now with tight supply in 2016 poised to ease soon after.
Speaking to Undercurrent News at the headquarters of Eastern Fisheries, the world’s largest scallop firm, executive vice-president Joe Furtado said that decreased US scallop supplies are expected to keep prices elevated, at least for a little while.
“The overall outlook for this year is still down as a whole but the overall outlook for 2017 is a significant rebound from a supply perspective,” Joe Furtado, executive vice-president of Eastern Fisheries said. “So I think we’ve made some market corrections due to the reality that there’s just less scallops this year but in anticipation of a rebound in 2017, I think you’ll start to see receding pricing in the back half of this year.”
