Supply is tightening into 2026. The combined NL and Gulf quota for 2026 is 77,281 tonnes, down 3.9% from 2025 and the first year-over-year decline since 2020. The Gulf quota was cut to 16,268 tonnes, its lowest since 2016 and a 63% decline from the 2017 peak. NL quota held near its 2025 level at 61,013 tonnes but did not increase for the first time in five years. This supply picture, combined with the near-zero carryover inventory documented in earlier sections, means the 2026 season opens with less available product than any year since 2020. The constraining factor for 2026 pricing is demand, not supply.