GSMC 2025: Diving Into What’s Working in Seafood Retail

The Global Seafood Market Conference (GSMC) 2025 started with Chris DuBois, of Circana, who presented “Finding New Paths for Growth: What’s Working in Retail”.

Seafood at retail didn’t have the best year in 2024 compared to other food departments. While many saw sales increase in dollars and units, seafood fell by 3.6%, according to DuBois.

The dip was attributed to double-digit declines in refrigerated and frozen shellfish, followed by a more modest dip in shelf-stable seafood.

That doesn’t mean there isn’t a...

GSMC 2025: Trump’s Tariffs A Big Stick for Statecraft, Says Rabobank Strategist

Christian Lawrence, head of cross-asset macro strategy for Rabobank, got straight to the point when discussing what the top three things in the world of macroeconomics would be for the year.

“Trump, Trump and Trump,” he told the crowd at the Global Seafood Market Conference 2025.

Lawrence highlighted that in just about 24 hours since President Donald Trump’s inauguration, he had already signed 46 Executive Orders and his impact could be massive when attempting to forecast 2025 and the years ahead...

GSMC 2025: How Consumers Perceive Seafood in 2025

Throughout the opening session of the Global Seafood Market Conference (GSMC) 2025, much of the focus revolved around seafood’s presence in retail.

Steve Markenson, vice president of research & insight for FMI – The Food Industry Association, provided a sneak peek of FMI’s annual Power of Seafood report.

Much of the conversation revolved around the perception of seafood at supermarkets and grocery stores.

Markenson noted that seafood is generally perceived to be healthy and environmentally friendly, creating a positive halo effect around the species in general. However, it is also perceived to be expensive...

ANALYSIS: China Shrimp Imports Declined by 6.7% in 2024

According to the latest data released by the General Administration of Customs of China (GACC), the country experienced a decline in its frozen shrimp imports in 2024. Total volume imported reached 1,000,507 metric tons, marking a decrease of 6.7% compared to the previous year. This decline follows a y-o-y growth in both imports and exports in 2023, which saw an increase of 12.3% in imports and 2.0% in exports between 2022 and 2023...

ANALYSIS: Canadian Lobster Exports Drop Sharply in November Year-Over-Year

In November, exports of live lobsters from Canada dropped by nearly a third compared with the same time last year, falling by 36.2%. According to the the latest census data, 1,358 metric tons of live Homarus Americanus from Canada were sent abroad in November compared to 2,014 MT last year and 3,305 MT two years ago. In value, the month of November represents 41,501 CAD ($28,807) or a 21.9% yearly decline...

Trump Orders Temporary Halt on Offshore Wind Leasing, Calls for Federal Review

President Donald Trump issued a memorandum that directed the temporary withdrawal of all areas on the Outer Continental Shelf (OCS) from wind energy leasing and called for a comprehensive review of federal wind leasing and permitting practices on January 20.

The memorandum, titled, “ “Temporary Withdrawal of All Areas on the Outer Continental Shelf from Offshore Wind Leasing and Review of the Federal Government’s Leasing and Permitting Practices for Wind Projects” goes into effect today, January 21, 2025, and Saving Seafood highlighted the following directives included in the document...

US Coast Guard Medevacs Injured Man from Fishing Vessel 40 Miles Offshore Oahu

On Monday, the U.S. Coast Guard medevaced an injured man from a 72-foot commercial fishing vessel about 40 miles offshore of Oahu.

Watchstandrs at Joint Rescue Coordination Center Honolulu received a notification at 4:30 p.m. on Saturday from crew members aboard the fishing vessel Capt Davis, indicating that a 34-year-old man had suffered an eye injury while the vessel was approximately 350 miles southwest of Oahu...

Supreme Crab and Seafood Pledges to Achieve Carbon Neutrality

Yesterday, Seafood importer Supreme Crab and Seafood reaffirmed its sustainability pledge by announcing its goal of achieving carbon neutrality.

To accomplish this, Supreme Crab and Seafood will continue working with the global organization Science Based Targets initiative (SBTi) to increase the efficiency, and reduce the carbon footprint of, its current operations. As part of its strategic approach, Supreme Crab and Seafood will focus on the following areas: sustainable sourcing, energy efficiency, supply chain optimization, and research and development...

Quin-Sea Fisheries Withdraws Membership from ASP

Today, Quin-Sea Fisheries withdrew its membership from the Association of Seafood Producers (ASP), effective immediately.

Previous friction between Quin-Sea and ASP

The withdrawal follows a series of back-and-forth interactions between the two entities, including ASP’s October 2024 application filing to the Newfoundland and Labrador’s Labour Relations Board claiming that Royal Greenland-owned Quin-Sea Fisheries refused to hand over sales receipts that the ASP argued were required to pass along under the third-party review of 2024 snow crab sales...

BOEM Issues Final Guidance for Fisheries Mitigation Before Temporary Halt on Offshore Wind Leasing

Last week, the U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM), issued its final guidance for mitigating the impacts of offshore wind energy projects on commercial and for-hire recreational fisheries.

Key notes of BOEM’s final guidance

Per the final guidance, any plan approvals for siting offshore wind energy projects on the Outer Continental Shelf (OCS) should be accompanied by key information regarding the potential social and economic impacts of said development operations, including any impacts on recreational and commercial fishing seasons and...

The Retail Rundown: Arctic Blast Supports Egg Demand While Seafood Leads Ads

Seafood continues to lead the retail protein category for the fourth consecutive week, accounting for 29% of all featured advertisements. Beef comes in second with 25%, while pork and chicken are tied at 20% each.

Arctic air across much of the country and an unusual winter storm in the South have influenced product movement and demand this week. Expana reports that the frigid conditions have boosted egg demand as consumers stock up on essentials.

Wholesale egg prices have ascended to a fresh all-time high, with Expana’s Midwest large quotation at...

Russian Fishing Industry Hopes for High Revenue in 2025

The Russian fishing industry may show positive dynamics in terms of revenue this year, although much will depend on the further economic situation in Russia and its fish sector, as well as some external economic factors.

According to earlier predictions made by German Zverev, head of the All-Russian Association of Fish Producers (VARPE), an optimistic scenario might include the industry’s revenue exceeding 742.7 billion rubles (US $7.37 billion).

According to analysts, the Russian fish sector rests its hope in stabilizing the situation next year. That stabilization will not be...

Trump to Lay Out Trade Vision but Won't Impose New Tariffs Yet

President-elect Donald Trump is planning to issue a broad memorandum Monday that directs federal agencies to study trade policies and evaluate U.S. trade relationships with China and America's continental neighbors -- but stops short of imposing new tariffs on his first day in office, as many trading partners feared.

The presidential memo directs federal agencies to investigate and remedy persistent trade deficits and address unfair trade and currency policies by other nations, two longstanding Trump irritants. And it singles out China, Canada and Mexico for scrutiny, directing agencies...

Japan: November Imports for Salmon and Trout Fall 8%, and Sockeye from the US Plummets to 60 MT

According to the Ministry of Finance's trade statistics, the total import volume of salmon and trout (including salted, smoked, and prepared products) in November 2024 was 21,009 tons, down 8% from last year. The CIF import value was 27,856 million yen ($178.49 million), up 6%. The value excluding fillet imports were 14,474 tons, down 17%, while fillets (fresh, frozen, salted, and dried) increased 24% to 6,535 tons.

Minato Shimbun reported that the decrease in frozen sockeye salmon affected raw materials other...

NRGene Canada and Northern Indigenous Fish Company Partner to Turn Fish Waste Into Feed

NRGene Canada Inc., a leading AI-driven genomics company in the agricultural industry, announces its partnership with Ile-a-la-Crosse Fish Company Inc. Together, the two companies will utilize fish waste to develop sustainable protein solutions. This collaboration marks a major step forward in promoting circular economy practices and fostering a more resilient future.

The project will apply BSF larvae growth technology to convert fish processing waste into valuable resources, including high-quality protein for the pet food and aquaculture industries, and nutrient-rich organic fertilizers...

The Winding Glass:  On the Eve of Trump, Tariff Outlook May be Moderate

Last month, I wrote about a worst-case scenario for U.S. seafood if major tariffs are imposed on Canadian lobster and crab. The interdependence of production and consumption in these two countries is so entwined that any dramatic action could be hugely disruptive.

Now, on the eve of the inauguration, I believe the worst-case scenario is unlikely. In fact, the lobster and crab seasons could begin in Canada without a clear picture of tariffs. In short, the seafood industry may have time to make the necessary market...

Nordic Aquafarms Abandons $500M Salmon Facility in Belfast, ME Amid Legal Challenges

After six years and “tens of millions of investment dollars”, Nordic Aquafarms is dropping efforts to build a land-based salmon farm in Belfast, ME, according to an announcement from the firm last Friday.

“This is a sad day for Maine’s economy and outlook for aquaculture or any significant investment in the State” says Brenda Chandler, US CEO for Nordic. 

“While a few may view this as a victory, we argue that this is a significant loss overall, not just for Nordic Aquafarms but for the ...