An Update on Vericatch’s Market Update

Published on October 18, 2023


More about Vericatch’s Canadian Fisheries Market Update including why we launched it and how to sign up for it!

In May, we introduced a free market update exclusively for our ELOG users. We strongly believe that keeping harvesters informed with current market data is crucial. That’s why we are delighted to offer this service as an addition to our ELOG software.

After six months of regular updates, we wanted to take a moment to pause and reflect on the significance of the information we provide and why we are committed to sharing it with fishermen and harvesters. We sat down with the team behind the market update and asked them a few questions.

Why did Vericatch launch a market update?

We aim to continually enhance the value we offer to harvesters and make Vericatch an essential part of the fish harvesting process. As for why a market update, a few things are significant to the operation of a fishing enterprise – one is weather, a second is the conditions set by DFO, and a third is the market information. While weather and DFO conditions are readily accessible, finding current market data has been a challenge for harvesters. Vericatch stepped in to bridge this gap by offering weekly updates during the fishing season, focusing on market prices for various species.

Where do you gather your information from?

We use a combination of export data, trade publications, and available market indices.

How do you analyze the information and data you review, and what do you focus on when working on the market commentary?

We analyze the data by examining it from multiple angles—by month, by season, and by location. This approach helps us identify trends that influence market dynamics and the true value of the product.

What sort of feedback have you gotten from readers?

It’s been overwhelmingly positive. Harvesters appreciate being able to access market information regularly. The information allows them to better engage in matters of price and to feel empowered.

Have you learned anything from putting this together over the past six months?

We expected interest, but we’ve been pleasantly surprised at the degree of interest. This is information that harvesters look forward to receiving on a regular basis.

What’s next for the market update? What is the vision for it?

As Vericatch continues to become certified for more species, we are committed to providing comprehensive market information for each. We may end up with a 20-page report each week. However, the effort is worthwhile if it ensures harvesters have the information they need and desire!

How can I access the market update?

The market update is free for our paid ELOG subscribers. Not using our ELOGS yet? You are welcome to subscribe to our ELOGS, even if you won’t be using them right away, so you can get the market update. If you are a paid ELOG subscriber and you’re not getting the market update yet, email us, and we’ll make sure you’re on the list. Here’s a sample market update (you may need to enlarge it to see it properly as it contains a lot of info!) so you can see what you’ll be getting!