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If you need help setting up services or accessing your accounts, please call our Customer Care Team at 866.552.9172 during business hours (7 a.m. — 5 p.m. PST, M-F) or email us at CustomerCare@AgWestFC.com.
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If you need help setting up services or accessing your accounts, please call our Customer Care Team at 866.552.9172 during business hours (7 a.m. — 5 p.m. PST, M-F) or email us at CustomerCare@AgWestFC.com.
Location
If you need help setting up services or accessing your accounts, please call our Customer Care Team at 866.552.9172 during business hours (7 a.m. — 5 p.m. PST, M-F) or email us at CustomerCare@AgWestFC.com.
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AgWest Farm Credit’s 12-month outlook sees fisheries as slightly profitable.
12-Month Profitability Outlook
Average seafood prices down
Seafood sales are declining as consumers react to high inflation. Seafood is a relatively expensive source of protein and consumers may be substituting it with others such as beef and/or chicken.
Average Food and Seafood Prices
Source: Bureau of Labor Statistics. Seafood Prices: Producer Price Index for Prepared Fresh and Frozen Seafood.
Northwest fisheries’ prices down
Strong supplies and lower consumer demand are leading to lower prices for the following fisheries:
Pollock B fishing season off to a strong start
Pollock B fishing season has started, and early indications suggest favorable fish sizes and catch rates. The general consensus is that the larger 2023 Total Allowable Catch will offset softening prices to support profitability.
Diesel prices down
Falling diesel prices are supporting producer margins. Several potential drivers could reverse this trend, including:
See our Crop Inputs Snapshot for more information on energy markets.
Russian government supports pollock industry
Russia’s pollock industry is surviving international trade sanctions. The government provides financial support to fishermen and processors to spur capacity investments. In response, Russian banks remain willing to provide loans despite increasing financial pressures.
Fisheries should be slightly profitable in 2023. Seafood prices are falling due in part to lower consumer demand. Strong supplies in salmon and pollock fisheries are supporting this trend. Falling diesel prices are supporting producer margins; however, this trend may reverse later in 2023.
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