Sablefish wholesale prices in Japan are currently at a ten-year low in Japan. Contributing factors are: a considerable carry-over inventory from 2003 has made for a sluggish market causing some packers to start dumping product at cheap prices; and declining consumer willingness to pay at higher price levels combined with warm Japan winter reducing demand for this "cold weather" delicacy resulted in many Japanese processors/retailers switching over to mero.

As packers reposition themselves in this market, prices to fishermen will likely drop. There is currently between 4-500 tons remaining in Canadian inventory and sales transactions are at a standstill. Although wholesale list prices for five to seven pound sablefish are between $4.96 - $5.17 per pound, product is not moving. With a 40% increase in quota for the 2004/2005 sablefish fishery these market issues may continue unless there are shifts in consumer demand or changes in market strategy.