Mon. Dec 9 2024
ANALYSIS: Shrimp Demand Normalizes as Inventories Tighten
ANALYSIS: After a Positive Summer, Argentinian Shrimp Exports Collapse in October
2025 TACs Up on Alaska Pollock and Mackerel, Down on Cod, Yellowfin Sole, POP in Bering Sea
NFI, Massive Industry Coalition Urge Resumption of Port Labor Talks
Oregon Crabbers Get the Jump on West Coast Commercial Dungeness Season
StarKist to Land $7.5 Million Canned Tuna USDA Contract
Japan's Imports of Russian Pacific Cod Surge 79% from January to October, Displacing US Cod by 17%
Canada To Fund $4.3 Million Job Program for B.C. Agriculture and Food Sectors
Grieg Seafood Faces Challenges in British Columbia as Q3 Operating Result Falls NOK 175 Million
Canada To Issue Exploratory Fishing Licenses for Quebec Lobster Industry in Spring 2025
Seafoodnews.com Summary Monday, December 9
Fri. Dec 6 2024
US Crab Prices Soar Amid Diminished Supply
NEFMC Approves Scaled-Back Scallop Harvest Plan for 2025-26 Season
ANALYSIS: Key Drivers of Norwegian and Chilean Salmon Price Fluctuations
ANALYSIS: Tariff-Driven Spike to Freight Rates Yet to Materialize
Signs Point to December Dungeness Season for Parts of West Coast
Russian Fisheries Profit Drops 26% in 2024 Amid Challenging Economic Conditions
Alaskan Seafood Processor PSF, Inc. Pays $750K Penalty for Clean Water Act Violations
Norway's November Seafood Exports Reach Highest Value to Date, Says Norwegian Seafood Council
Japan’s Seafood Industry Pushes for Precautionary Tropical Tuna Management
Startup Fishery Sakana Dream Debuts New Farmed Japanese Jack Mackerel Variety, “Yumeaji”
Seafoodnews.com Summary Friday, December 6
Thu. Dec 5 2024
Genetic Testing Reveals Mississippi Restaurants Misrepresenting Gulf Shrimp
ANALYSIS: Reduced Norwegian Cod Quotas Push Prices Higher in 2024
U.S. House Passes FISHES Act Aimed at Expediting Fishery Disaster
NOAA Makes $99 million Available for Pacific Coastal Salmon Recovery Fund
Historically Low Hokkaido Fall Chum Landings Leads to High Prices for Ikura, Dressed Fish
UK Reaches Agreement on North Sea Fishing Opportunities for 2025
GSA and Wholechain Launch Prism, New Assurance & Traceability Platform, and Webinar Series
French Caviar Company Becomes First to Use BioMar’s Low-Impact Feed
MarinTrust and MSC Sign MoU to Enhance Marine Ingredient Supply Chain
Seafoodnews.com Summary Thursday, December 5
Wed. Dec 4 2024
The Winding Glass: Heavy Lobster and Crab Tariffs Could Cripple the US; Canadian Seafood Industry
Eastern Fish to Handle US Sales and Marketing for Storm Seafood’s Norwegian Salmon Starting in 2025
The Retail Rundown: Diving into December Deals
Russia: Bering Sea Pollock Catch to Drop by 25% in 2024 Amid Natural, Economic Challenges
Global Squid Supply Chain Roundtable Discloses Sourcing, Joining SFP’s Ocean Disclosure Project
Red Lobster Launches New Happy Hour
Proximar Announces New Managing Director
France, Italy, and Spain Request Delay of West Mediterranean Multi Annual Plan
Seafoodnews.com Summary Wednesday, December 4
Tue. Dec 3 2024
ANALYSIS: EU Imports of Homarus Lobster Slightly Progress in Q3
Cooke CEO Urges NL Premier to Withdraw from National Marine Conservation Area Proposal
Soaring Costs Squeeze Japan’s Surimi Producers, Industry Calls for Support
2024 Pollock Harvest Highlights and a Look at 2025 Quotas
Russian Fish Processors Plead for Relief Amid Investment Quota Struggles
Dermo Detected in Nova Scotia Oysters: Canadian Food Inspection Agency Confirms
Innovasea and Mowi Strengthen Partnership with Renewed Global Agreement
Seafoodnews.com Summary Tuesday, December 3
China Lifts Final Market Bans for Two Australian Beef Plants
Part of Andfjord Salmon Group’s Kvalnes Build-Out Almost Complete: PLUS Decrease in Q3 2024 Losses
Mon. Dec 2 2024
Seafoodnews.com Summary Monday, December 2
Tuna Price-Fixing Scandal Winds Down as Court Approves Settlement
Canada and Province of New Brunswick to Fund $38M in Fish and Food Sector Improvements
Captain Fresh Eyeing Profitable Fiscal Year with Looming IPO Push
Previous Week »
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ANALYSIS: Shrimp Demand Normalizes as Inventories Tighten
Through October 2024, U.S. shrimp market dynamics reflect significant structural adjustments affecting supply and demand fundamentals. Total imports reached 164.7 million pounds, down 2.2% year-over-year, with year-to-date volumes contracting 4.2% to 1.376 billion pounds. November imports are projected at 162.6 million pounds, suggesting a 4.3% year-over-year increase. While this forecast might appear optimistic, the counterbalancing effect of October's decline could support some volume recovery, particularly given typical seasonal strengthening during this period. The October volume decline has been accompanied by strengthening replacement values, which advanced to...
Full Story »ANALYSIS: After a Positive Summer, Argentinian Shrimp Exports Collapse in October
Latest figures from Argentinian customs show a significant drop in exports of muelleri wild shrimp in October. While the volume traded during the summer was at the highest in the last five years, exports collapsed in October at 13,026 MT, representing a 44% decline since September and a 42% decrease in value at $84,938...
Full Story »2025 TACs Up on Alaska Pollock and Mackerel, Down on Cod, Yellowfin Sole, POP in Bering Sea
Alaska Pollock stocks are strong enough to merit a 6% increase for the total allowable catch (TAC) in the Bering Sea, from 1.3 million metric tons in 2024 to 1.375 met in 2025. In the Gulf of Alaska, the 2025 TAC is 53,000 mt less at 133,075 mt compared to this year’s quota of 186,000 mt in the gulf.
The North Pacific Fishery Management Council met last week to set catch limits on 20 directed species and five prohibited species: halibut, herring, red ...
Full Story »NFI, Massive Industry Coalition Urge Resumption of Port Labor Talks
The National Fisheries Institute (NFI), along with a catalog of organizations from farming, agribusiness, restaurant, and other sectors, sent a letter to the leaders of the International Longshoremen’s Alliance (ILA) and the United State Maritime Alliance (USMX) calling on both sides to resume port labor talks.
Only weeks remain until a contract extension between port employers and union longshore workers expires, paving the way for another port strike at major U.S. ports along the East and Gulf coasts.
“It is imperative for the parties to resume negotiations...
Full Story »Oregon Crabbers Get the Jump on West Coast Commercial Dungeness Season
Oregon Department of Fish and Wildlife managers announced Friday that the Dungeness crab season will open Dec. 16, from the California border in the south to Cape Falcon in the north.
“Pre-season testing in this area shows crab meat fill meets criteria and domoic acid is below the safety threshold,” ODFW said in a public notice.
However, Washington and California ocean commercial crab fisheries will remain closed.
The ocean season for Washington ...
Full Story »Japan's Imports of Russian Pacific Cod Surge 79% from January to October, Displacing US Cod by 17%
According to trade statistics from the Ministry of Finance, the average price per kilo for frozen cod imports from January to October was 620 yen ($4.13/kg), down 0.5% from the same period last year, while the volume recovered to 4,071 tons, up 42%. Imports from Russia increased, with the unit price falling 3% to 593 yen/kg ($3.95/kg) and the volume increasing 79% to 3,141 tons. Imports from the United States saw a unit price increase...
Full Story »Grieg Seafood Faces Challenges in British Columbia as Q3 Operating Result Falls NOK 175 Million
In a report released by Grieg Seafood on November 27, 2024, the international seafood company provided detailed information on its financial and operational highlights for Q3 2024.
Despite its operating result being down NOK 175 million, overall sales reached NOK 1.5 billion, with the total EBIT reaching NOK 75 million for Q3 and NOK 500 million for 2024 so far. As of now, Norway’s EBIT is also up NOK 69 million, which is an all-time high for the company.
The negative operating...
Full Story »US Crab Prices Soar Amid Diminished Supply
The 2024 Canadian snow crab season began with prices in April up 19% compared to the already remarkable levels of 2023, according to Urner Barry by Expana. Despite the increase, these prices remained manageable for retail and food service sectors, holding steady throughout the summer and into September. However, as inventories dwindled, prices surged further, with Canadian snow crab now up over 40% compared to the same time period last year.
More than 90% of U.S. imports of Canadian snow crab occurred early in the season when prices were lower, which benefited retailers and...
Full Story »ANALYSIS: Key Drivers of Norwegian and Chilean Salmon Price Fluctuations
The average price reported by Expana of Norwegian Atlantic salmon whole, FOB Oslo, Norway, 4-5 kg during November 2024, shows an increase of 2.7% in the last three months. However, the price dropped by 9.5% year over year, averaging NOK 74.49 kg. The increase in price in the last three months may be associated with the rise in demand in Europe due to end-of-the-year festivities...
Full Story »Signs Point to December Dungeness Season for Parts of West Coast
It’s almost time to start crackin’! Recent testing shows crab in Oregon are ready to harvest and domoic acid levels are all well below the safety threshold for starting the season.
Oregon crabbers talked with Oregon Department of Fish and Wildlife fishery managers Thursday and said afterward that most everyone agreed to a Dec. 16 opening between the California border and Cape Falcon on the North Coast.
Crab from Long Beach, Washington, have not fully filled out with meat yet, according to recent tests. At 19.9%, the ,,,
Full Story »Alaskan Seafood Processor PSF, Inc. Pays $750K Penalty for Clean Water Act Violations
On December 5, 2024, the US Environmental Protection Agency (EPA) announced that PSF, Inc. (formerly known as Peter Pan Seafoods, Inc.) paid a $750,000 penalty for permit violations to state and federal requirements under the Clean Water Act (CWA).
The violations occurred at the company’s seafood processing facilities in Valdez and King Cove, Alaska.
At the Valdez facility, PSF was found to be discharging seafood processing waste from beyond the one-acre “zone of deposit” allowed under the permit...
Full Story »Japan’s Seafood Industry Pushes for Precautionary Tropical Tuna Management
On November 25, 22 companies and organizations, including Seafood Legacy, WWF Japan, Maruha Nichiro, Nissui, AEON, and Mitsubishi Corporation, submitted a letter of request to the Fisheries Agency and the Western and Central Pacific Fisheries Commission (WCPFC) to manage tropical tuna fisheries according to the precautionary principle, reported Minato Shimbun.
The letter requested that during the WCPFC annual meeting, which begins on November 28, parties should aim for sustainable use and conservation of tuna resources according to the precautionary principle. It was pointed out that while catches...
Full Story »Genetic Testing Reveals Mississippi Restaurants Misrepresenting Gulf Shrimp
A recent investigation found extensive mislabeling and misrepresentation of shrimp served at restaurants in the Mississippi Gulf Coast region.
SeaD Consulting, a firm focused on monitoring seafood mislabeling through genetic testing, said it found that many establishments in the area are misleading consumers by offering imported shrimp rather than locally caught fare.
Findings from SeaD Consulting indicated that restaurants in Biloxi, Gulf Shores, and surrounding areas featured marketing focused on “fresh local seafood,” but imported shrimp was frequently substituted for the local wild-caught shrimp, which remains a staple in the region...
Full Story »U.S. House Passes FISHES Act Aimed at Expediting Fishery Disaster
The U.S. House of Representatives passed The FISHES Act via voice vote on December 4. The legislation looks to improve the federal regulatory process linked to the allocation of fishery disaster relief, per an announcement from Congressman Byron Donalds’ (R-FL) office.
H.R. 5103 – "The Bipartisan Fishery Improvement to Streamline untimely regulatory Hurdles post Emergency Situation Act (FISHES) Act," will expedite the distribution of federal disaster relief following official fishery disaster declaration-which the State of Florida has requested seven times since 2012.
The legislation has received the support...
Full Story »Historically Low Hokkaido Fall Chum Landings Leads to High Prices for Ikura, Dressed Fish
According to a Minato Shimbun report, this year's Hokkaido fall chum fishing season ended on November 30. According to the Hokkaido Fisheries Association Daily Report, the cumulative landing volume up to that point was 43,624 tons, down 18% from the previous year. Although this is a preliminary figure, it is lower than the 45,000 tons in 2019, which was the lowest in recent years. It is even lower than the 44,019 tons in 1978, when the artificial hatching and release project was first started...
Full Story »GSA and Wholechain Launch Prism, New Assurance & Traceability Platform, and Webinar Series
Seafood responsibility organization Global Seafood Alliance (GSA) recently partnered with traceability solutions company Wholechain to launch Prism, an assurance and traceability platform.
“We are excited to unveil our assurances and traceability platform, Prism, which is designed to revolutionize how our customers manage and verify their supply chains,” said Tim Grotheer, Director of IT.
According to Grotheer, the platform will combine robust traceability data systems with a user-friendly interface, ensuring seamless tracking, greater accountability, increased operational confidence, and more comprehensive insights.
Prism connects suppliers’ Global Dialogue on Seafood...
Full Story »MarinTrust and MSC Sign MoU to Enhance Marine Ingredient Supply Chain
International certification programs MarinTrust and Marine Stewardship Council (MSC) recently signed a Memorandum of Understanding (MoU) to enhance cooperation within the marine ingredient supply chain.
Through the agreement, the two entities will explore mutual opportunities to make the marine ingredient supply chain more efficient for seafood producers and reduce overall costs for the industry.
Libby Woodhatch, Executive Chair at MarinTrust, noted that the “collaboration reflects both organization’s shared commitment to improving fisheries management and addressing the increasing demand for responsible marine ingredients.”
She added that the agreement will enable...
Full Story »StarKist to Land $7.5 Million Canned Tuna USDA Contract
Tuna canner StarKist looks to be on the verge of securing a $7.5 million contract from the U.S. Department of Agriculture’s Agricultural Marketing Service (AMS).
AMS released a “Notice of Intent to Sole Source” on December 5, announcing the USDA’s intention to award StarKist Co. a Firm Fixed-Price contract for 140,400 cases (78 truckloads) of tuna products.
The USDA said that based on market research, Star Kist is the only company that provides “Tuna Chunk Light Can-24/12 OZ” products as required by “The Agricultural Acquisition Regulation...
Full Story »Canada To Fund $4.3 Million Job Program for B.C. Agriculture and Food Sectors
On Friday, December 6, 2024, the Government of Canada announced the rollout of the Recruitment, Retention and Innovative Skills Training Program, which will provide new supports for farming, seafood, and food-processing sectors within British Columbia in an effort to address labor-market needs.
The program falls under the Agriculture and Food Workforce Development Initiative and is delivered by the Investment Agriculture Foundation (IAF). Program offerings include employment and advancement opportunities for domestic workers and building and retainment measures for a skilled workforce. Applications for the...
Full Story »Canada To Issue Exploratory Fishing Licenses for Quebec Lobster Industry in Spring 2025
On December 5, 2024, the Honorable Diane Lebouthillier, Minister of Fisheries, Oceans and the Canadian Coast Guard, announced the continuation of the data acquisition plan for Quebec’s lobster fishing industry.
Come spring 2025, the Department will issue new exploratory fishing licenses to assess lobster stock capacity and responsible fishery development as well as to support additional catches. License holders will participate in gathering critical data related to the stock assessment, including learning more about lobster abundance and distribution.
“Starting this spring, First Nations and industry will be..."
Full Story »NEFMC Approves Scaled-Back Scallop Harvest Plan for 2025-26 Season
The New England Fishery Management Council (NEFMC) finalized Framework Adjustment 39 during its December 3-5 meetings. This framework establishes harvest specifications and management measures for the 2025-26 scallop fishing season.
The framework, which still needs the final thumbs-up from NOAA Fisheries, will set total landings at about 19.75 million pounds and revenue at $348.25 million. This represents just over a 25% decrease in total landings compared to the current 2024-25 season.
However, as Urner Barry by Expana covered in its latest U.S. Quarterly Scallop Market Insight publication...
Full Story »ANALYSIS: Tariff-Driven Spike to Freight Rates Yet to Materialize
The re-election of US President-elect Donald Trump, on November 5, sparked speculation about the outlook for global trade, given the stringent tariff regime that he has stated he will impose. Some initial reactions expected the effects on international shipping and freight rates to be significant, with a short-term price spike resulting from US importers boosting their inventories before the tariffs come into effect. The results so far, however, have been more tepid than anticipated.
During his campaign, Trump indicated his intention...
Full Story »Russian Fisheries Profit Drops 26% in 2024 Amid Challenging Economic Conditions
The profits of the Russian fisheries industry in January-August 2024 decreased by 26% compared to the same period in 2023 and amounted to 60 billion rubles ($598 million), according to recent statements made by the President of the All-Russian Association of Fish Producers German Zverev at the general meeting of the association.
The industry's current situation remains complex, mainly due to the country's tough business environment.
German Zverev comments:
"The financial and economic situation of the fisheries industry in 2024 has become significantly more complicated..
Full Story »Norway's November Seafood Exports Reach Highest Value to Date, Says Norwegian Seafood Council
According to information published recently by the Norwegian Seafood Council, seafood exports in Norway reached a total worth of NOK 17.3 billion in November, making it the most successful November seafood export value to date, increased by NOK 1 billion, or 6%, from last November.
At this rate, Norway is headed for a new export record, with already NOK 160.4 billion exported this year, which is 1.5% higher than this time last year.
Christian Chramer, CEO of the Norwegian Seafood Council, said that Norway has been seeing...
Full Story »Startup Fishery Sakana Dream Debuts New Farmed Japanese Jack Mackerel Variety, “Yumeaji”
On December 1, 2024, Japanese startup fishery Sakana Dream debuted test marketing for its new farmed fish variety called “yumeaji,” a type of Japanese jack mackerel.
Japanese jack mackerel—a species of fish that is commonly found in and around the East China Sea and the Sea of Japan—is a popular fish among traders at Toyosu Market. However, despite its popularity, distribution remains severely limited due to unstable catches and difficulty farming.
Sakana Dream was established in July 2023 at the Tokyo University of Marine Science and...
Full Story »ANALYSIS: Reduced Norwegian Cod Quotas Push Prices Higher in 2024
Expana's Norwegian cod price (frozen, gutted, headless, 1-2.5kg) has increased by 80.32% year over year (y-o-y) and by 15% quarter over quarter (q-o-q) during the last week of November. This has led to reaching the all-time high averaging monthly price of NOK 73.37 kg (Fig.1). The increase may be associated with the Barents Sea cod quota reduction by 20%, which accounts for a total allowable catch of 212,124 MT for Norway in 2024.
In addition, total exports dropped by 14% y-o-y...
Full Story »NOAA Makes $99 million Available for Pacific Coastal Salmon Recovery Fund
Yesterday the Department of Commerce and NOAA Fisheries announced the availability of up to $99 million in funding through the Pacific Coastal Salmon Recovery Fund (PCSRF) for state and tribal projects conserving and restoring salmon in Alaska and along the West Coast.
The funding, which will focus on Pacific salmon and steelhead, will support projects that advance population and habitat restoration and increase environmental and economic resilience in surrounding communities.
Of the total funding available, $34.4 million was provided through the Bipartisan Infrastructure Law (BIL)...
Full Story »UK Reaches Agreement on North Sea Fishing Opportunities for 2025
The UK Government has announced the outcome of its fishing negotiations with the EU and Norway today (4 December), securing fishing opportunities to North Sea stocks including cod, haddock and herring for the UK fleet.
A trilateral deal with the EU and Norway has secured UK fisheries over 290,000 tonnes of North Sea stocks, worth up to £310 million based on historic landing prices. The deal agreed catch limits on six fish stocks including cod, haddock and herring in the North Sea and other waters around the UK...
Full Story »French Caviar Company Becomes First to Use BioMar’s Low-Impact Feed
French sturgeon farmer Caviar d’Aquitaine became the first in the industry to adopt BioMar’s Blue Impact feed, a product that aims to provide companies with responsibly sourced feed for aquaculture operators.
BioMar highlighted Caviar d’Aquitaine’s focus on sustainability and said the introduction of its Blue Impact feed further solidifies the sturgeon farmer's commitment to responsible fish farming. The firm is also on the verge of landing a Protected Geographical Indication (PGI) certification.
BioMar said its Blue Impact feed reduces reliance on scarce marine resources by using circular and restorative...
Full Story »The Winding Glass: Heavy Lobster and Crab Tariffs Could Cripple the US; Canadian Seafood Industry
Canadian lobster and crab industries face severe stress due to President-elect Trump’s threat to impose 25% tariffs across the board on all Canadian imports to the US.
Under the worst-case scenario, higher sale prices would cut demand to the extent that lobster and crab would be left in the water. For both exports, the Canadians have no replacement for the US market. To increase sales to China, Japan, and Europe, they would have to offer drastic price cuts...
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