IFQ March 2024

HALIBUT

IPHC catch limits have been set for the 2024 halibut season. Increases were made to Area 2C (2.64%) and Area 4CDE (1.98%) allocations. Area allocations decreased in 3A (-3.57%), 3B (-3.56%), 4A (-9.22%) and 4B (-10.86%). Activity in the QS market has improved as harvesters begin making plans for 2024, but prices remain low. We expect market activity to pick up speed as the season draws near.

SABLEFISH

Sablefish catch limits have been set for the 2024 season. The allocation for WG (9%) was increased. Areas BS and AI remained flat. Decreases were made in CG (-2%), SE (-5%) and WY (-8%). Demand for sablefish QS remains muted and we expect it to remain so until ex-vesel prices improve and market stability returns. Harvesters continue to look for IFQ available to catch at market lease rates.