Record harvest of pinks creating market glut

JUNEAU (AP) — State officials say Alaska’s record pink salmon harvest in 2013 could create a market glut that will drive prices down for several years.

KFSK-radio reports the state’s division of Economic Development sees a glut in supply after the 2013 harvest, bringing downward pressure on prices.

Alaska fishing fleets caught 219 million pink salmon last year. That helped fill an estimated 4 million cases of tall pink cans and left companies with almost 5 million cases in inventory.

Wholesale prices for cases of tall pink salmon cans topped $100 in 2012 and 2013, more than double what they were a decade ago. Not all the pinks end up in cans. Some are frozen and shipped overseas for more processing.

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