Atlantic Halibut
Market Situation
Peter Swim Island Marine Products
Scotian Halibut Ltd. Facts Atlantic halibut
• Name: Atlantic halibut Hippoglossus hippoglossus • Size: length up to 3 metres – weight up to 300 kg. • Atlantic halibut is one of the most highly prized fishes, due its tasty, firm and white meat. It is sold whole or in slices, either fresh or frozen. Atlantic halibut can be roasted, boiled, grilled and can be used in a lot off different dishes.
Scotian Halibut Ltd. Island Marine Products Ltd.
• Swim Family in Business since - 1897 • Products include »Lobster »Tuna »Halibut »Haddock, Cod – Live • Over 100 years of Tradition
Scotian Halibut Ltd. Market Goals 2003/2004
• Introduce Farmed raised Halibut as a viable “stand alone” product. • Develop non-traditional markets for “baby” Halibut in both whole and fillet forms. • Educate our wholesale and food service representatives of the superior qualities of farmed raised halibut. • Establish complete continuity of supply.
Scotian Halibut Ltd. Advantages of Farmed Halibut
• Optimum Shelf life “Harvest upon sale” • Production - environmentally friendly, all natural • Farm Safe - Traceability/HACCP • No Defects – Bruising etc. • Zero instances of Chaulky fish • Complete continuity of supply
Scotian Halibut Ltd. Product Forms
• HOG / H+G 1-3 lb, 3- 5lb, 5-9 lb, 9+ lb • Fillet – 7 – 12oz, 12 –16oz, 1 – 2 lb • Steak and Roast combo pack • Smoked hot and Cold • Steak ready
Scotian Halibut Ltd. Products
Scotian Halibut Ltd. Worldwide Fisheries/Aquaculture Production (FAO State of World Fisheries & Aquaculture 2000)
Production (Million Tons) 1994 1995 1996 1997 1998 1999
Fisheries 91.4 91.6 93.5 93.6 86.3 92.3
Aquaculture 20.8 24.6 26.8 28.8 30.9 32.9
Total 112.3 116.1 120.3 122.4 117.2 125.2
Scotian Halibut Ltd. Atlantic Halibut Wild Catch Level (FAO Annual Report 1998 - metric tons)
8000
7000
6000
5000 N America 4000 Europe 3000 Total
2000
1000 0 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
Scotian Halibut Ltd. Wild catch of Pacific halibut
35,000 30,000 25,000 20,000 Metric tonnes 15,000 10,000 5,000 0 92 93 94 95 96 97 98
Scotian Halibut Ltd. Atlantic Halibut Price Levels (Fulton Fish Market New York - $US/pound)
9 8 7 6 5 1998 4 1999 3 2000 2 1 0 Jan Mar May Jul Sep Nov Scotian Halibut Ltd. Estimated Production of Non- salmonids in Atlantic Canada
Species 1997 1998 1999 2000 2001 2002
Haddock 2,000 18,000 75,000 95,000 170,000 140,000
Cod 12,000 10,000 45,000 10,000 56,000 10,000
Halibut 5,000 30,000 55,000 60,000 120,000 130,000
Flounder 8,000 17,000 50,000 50,000 Unknown Unknown
Over 300,000 fish in grow out at two Heritage Salmon sites Scotian Halibut Ltd. Atlantic Halibut Wild Catch Level (FAO Annual Report 1998 - metric tons)
8000
7000
6000
5000 N America 4000 Europe 3000 Total
2000
1000 0 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
Scotian Halibut Ltd. Atlantic Halibut Price Levels (Fulton Fish Market New York - $US/pound)
9 8 7 6 5 1998 4 1999 3 2000 2 1 0 Jan Mar May Jul Sep Nov Scotian Halibut Ltd. Global Juvenile Production
1998 1999 2000 2001 2002 Canada 20,000 20,000 78,000 200,000
Iceland 200,000 300,000 370,000 330,000 550,000
Norway 250,000 300,000 250,000 375,000 400,000
Scotland 50,000 100,000 75,000 145,000 310,000
Scotian Halibut Ltd. Harvest in Tonnes
1998 1999 2000 2001 2002 Canada 5000 12,000 130,000
Iceland 13,000 31,000 93,000 140,000
Norway 261,000 406,000 384,000 450,000 550,000
Scotland 4,000 5,000 189,000 355,000
Scotian Halibut Ltd. Fulton Fish Market Average Prices Jan - Dec 2001
$7.00 $6.00 $5.00 Atlantic $4.00 Pacific $3.00 Farmed $2.00
US Do ll ar HnG $1.00 $0.00 1 2 3 4 5 6 7 8 9 10 11 12 Month
Scotian Halibut Ltd. Fulton Fish Market Average Prices January - December 2000
10 8 6 4
US $ HnG 2 0 1 2 3 4 5 6 7 8 9 10 11 12 Atlantic Month Pacific
Scotian Halibut Ltd. Farmed Atlantic Halibut Market Price 2002
9 Pacific 8 7 Farm 5+ 6 5 Farm 3+ 4 US $ 3 Fillet 2 1 Farm < 3 0 1 2 3 4 5 6 7 8 9 10 11 12 Month
Scotian Halibut Ltd. Nordic Seafarms
DEVELOPMENT IN HARVEST PRICE AND VOLUME 450,000 90 400,000 80 350,000 70 300,000 60 250,000 50 200,000 40 150,000 30 100,000 20 50,000 10 0 0 1996 1997 1998 1999 2000 2001E 2002E 2003E
Volume kg Price NOK
Scotian Halibut Ltd. Market Outlook 2003 -2006
Size Kilos Price US $ / HnG 1 – 1.5 $3.75 Competition from Small Flounders 1.5 - 2 $4.50 2 - 3.5 $5.50 3.5 – 4.5 $6.25 4.5 + $6.50
Scotian Halibut Ltd.