At the time of this writing, we are still waiting on the IPHC to convene and decide on 2022 catch limits. Meanwhile, market activity continues with interest primarily focused in areas 3A and 3B. Demand continues to outpace supply in 3B, and asking prices have increased as a result. Interest in other areas remains limited, but the outcome of the IPHC meeting could spur new market activity.
The market for sablefish quota is showing continued signs of improvement after increases to the 2022 TAC and steadily improving ex-vessel prices. However, there has not been enough market activity to determine how prices (per pound) will adjust to account for the larger TAC. We expect increased market activity as we get closer to the season, particularly if free Covid transfers are no longer an option.