Wednesday, October 21, 2020

GAPP Said Pollock Industry Investments Are Paying Off

A new report released by the Association of Genuine Alaska Pollock Producers says for every dollar invested by the wild Alaska Pollock industry over the past two years the return has been $28.04 in wild Alaska Pollock fillet and surimi revenue back to the industry.

The report was released during GAPP’s virtual annual meeting, is the “Return on Investment” study commissioned by GAPP from Harry Kaiser, an econometric evaluation expert from Cornell University.

Kaiser said that the study found a very significant effect from the recent record purchases of wild Alaska Pollock by the federal government that equated to a lift of 4.8 percent in the value of wholesale frozen fillet block prices. Kaiser also compared the return on investment for GAPP with the return on investment of other commodity entities he does similar research for. According to the Cornell researcher, the investment in GAPP has yielded a return on investment almost double the median and greater than well-recognized commodity marketing organizations like pork, soybeans and beef.

Craig Morris, chief executive officer of GAPP, said Kaiser’s work helps organizations like GAPP in two significant ways. “First, the data provides those who pay into such marketing organizations independent, verified information relative to their investments,” he said. Second, and perhaps more important, said Morris, such data advises organizational leadership, like GAPP’s board of directors, about which specific activities are the best investments over time.

FN Online Advertising