Peter Pan Seafoods announces price increase to $1.15 per pound for Bristol Bay sockeye
Peter Pan Seafoods announced this weekend it is boosting the price of sockeye salmon from $1.00 to $1.15 per pound. The announcement comes a little more than a week after the company announced the starting price.
Peter Pan’s vice president, Jon Hickman, says the price bump is part of the company’s assessment of the season so far.
“And wanting to relay that to the fishermen, as we consider our business partners in this industry, that we believe we can go a little higher," Hickman said. "So we pushed our starting price up a little bit. ”
The processor’s price is now above the average of $1.04 for the past 12 years. While it’s lower than 2021, when Peter Pan set the initial price at $1.10 and then bumped it up to $1.25 in July.
“We know as the season progresses things are going to change, and they’re going to move hopefully upwards. But I don’t think it’s fair to the fishermen for them to go out not having any idea of what that floor is," he said.
Peter Pan is Bristol Bay’s only major processing company to publicly announce a base ahead of the season.