Chicken of the Frozen Foods Enters Scallop Business in Marketing Deal with Northern Wind
Chicken of the Sea Frozen Foods (COSFF) will enter the scallop business after the major distributor announced a marketing agreement with Massachusetts-based Northern Wind. According to the agreement the companies will work together to provide customers with high quality, responsibly sourced frozen scallops. “We are excited about the opportunity to combine Northern Wind’s expertise and sustainability footprint with our distribution network. The two companies are well positioned to further develop this important category,” said Bryan Rosenberg, CEO of Chicken of the Sea Frozen Foods.
The first round of monthly shrimp imports figures of 2017 showed continued strength in shipments from India and Indonesia. As of January, total US shrimp imports were up 2.2 percent compared to last January. Indian shrimp imports continue to fuel the US market and were higher from historical monthly averages. Indonesian production, meanwhile, is generally stronger this time of the year compared to other major US suppliers and shipments were up 12 percent. Imports from many key US suppliers were down in January.
Meanwhile, Alaskan red king crab from Bristol Bay has fetched the highest price ever for fishermen according to reports. Meanwhile, Bering Sea snow crab prices are also at unprecedented levels.
In other news, the Russian Fishery Company, one of Russia’s largest fish producers, is considering acquiring the assets to major Russian pollock producer Dalmore in a deal valued at $150 million. Negotiations between the sides are currently underway. If finalized, the deal will allow Russian Fishery Company to increase its pollock catch by more than 20 percent.
Finally, India's shrimp feed and shrimp producer Avanti has entered into a joint venture with Thai Union. Avanti's Chairman and Managing Director, Alluri Indra Kumar has plans to increase the company's revenue share of shrimp exports to about 40 percent of the business by 2020. Currently, the revenue breakdown between Avanti's shrimp export and shrimp feed is 15 percent and 85 percent respectively.
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