August 29, 2023 — Kodiak fisherman Mike Friccero has fished for salmon for over four decades. He said he was expecting a low price for Bristol Bay salmon this summer, but didn’t think rumors were true about how low it would drop.
“Our processor gave us a letter, a narrative before the season started, saying that pricing conditions weren’t great but that they were going to go after it with all the resources that they utilized last year as far as tendering and logistics and resources in general,” he said. “And they asked if we would do the same.”
It’s been a tough year for commercial salmon fishermen. Three years of huge returns in Bristol Bay created a surplus of sockeye in the market. Towards the end of the season, processors announced a base price of just 50 cents per pound – the lowest price in decades, when adjusted for inflation.
Fishermen can get bonuses for better quality, but Friccero said even with the boost, he was better off gearing up to fish for other species like halibut.
“If you’re catching 5,000 pounds and you’re thinking 80 cents, then your crew’s share might be $400,” he said. “Well that’s worth doing for folks, but once it drops into the lower figures, if you have crew that have talent, they’ve got other things they want to get over to.”
Friccero said he usually leaves shortly after the peak anyway, but he wasn’t the only one packing up before August.