US, Chinese Demand Sends Maine Lobster Values to Record Levels as Landings Top 130 Million Lbs
According to data from Maine’s Department of Natural Resources, the value of the state’s lobster landings in 2016 topped $500 million. The figure was up nearly $30 million from 2015 and a new record. The state's lobster landings in 2016 were also record-setting at 130 million pounds. At the same time, Urner Barry prices for lobster meat and live lobsters reached record levels in 2016. This is the result of high restaurant demand for lobster meat in the US market and a surge in North American live lobster sales to China.
Both U.S. and Canadian whiting industries will enjoy a higher total allowable catch of Pacific hake in 2017. The key drivers for the higher TACs are strong 2010 and 2014 year classes, according to the stock assessment. The assessment also noted those classes should drive the fishery for the next few years. This year's high TAC is still far shy of the potential of almost 970,000 mt that could be harvested while keeping the stock healthy writes Susan Chambers.
In other news, the long-awaited word arrived from both the State Department and the Commerce Department late yesterday that the Pacific halibut season would open on time this year. “On behalf of the Secretary of State, after consulting with and obtaining the concurrence of the Department of Commerce, I accept on behalf of the United States all of the recommendations proposed by the International Pacific Halibut Commission for the 2017 Pacific Halibut fishery....," said State Department Assistant Secretary Judith Garber.
Meanwhile, Cooke Aquaculture CEO Glenn Cooke said Alaska's wild salmon sales can flourish now that Icicle Seafoods' is under the umbrella of Cooke's operations. “I believe the Alaskan wild salmon has an incredible place in the marketplace,” Cooke said. “It’s a product that needs to be promoted. It needs to get huge coverage. The product is an incredible product and should be respected as that in the marketplace and we plan on doing that as a company. We believe the wild salmon has its niche. And we believe with working together with the farm product on the side enables us to be able to position that right with the retailers so they can get the premium and the benefit of what the wild should bring.”
Finally, Sino Agro Food a China-based investment company focused on protein foods, including seafood and cattle, carved out Tri-way Industries Ltd., the holder of enzyme technology master license for manufacturing of livestock feed and bio-organic fertilizer. The purpose for the carve-out is to provide Tri-way a means toward capitalizing on market conditions that currently support entities with strong aquaculture focus. For SIAF, that means becoming a 'solutions destination,’ supporting a wide range of agriculture endeavors through the delivery of value-added technology and world-class operations," said Solomon Lee, chairman and CEO of SIAF.
And for those that didn't get a chance to attend Urner Barry's Seafood Import Workshop held this week at Urner Barry's headquarters in New Jersey check out our Weekly Roundup Show for some video and pictures out of the event.
Have a great weekend.
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