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Article: Fishing loans prove tough to land. (Commercial Fishing Focus) (Industry Overview)
- Article from:
- Alaska Business Monthly
- Article date:
- March 1, 1992
- Author:
CopyrightCOPYRIGHT 1992 Alaska Business Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feeling the bite of lower salmon prices in 1991, Alaska's fishing loan programs have been forced to renegotiate with more borrowers than usual.
The state's $68.8 million commercial fishing loan program received more than five times the usual amount of extension requests last winter, following a salmon season plagued by a glutted market and low prices. Meanwhile, the other agency lending money to fishermen and seafood processors -- the Alaska Commercial Fishing and Agriculture Bank -- is feeling the effects of the poor commercial salmon season as well.
An oversupply of pink canned salmon still sitting on warehouse shelves from 1990 pushed down prices by 30 ...