Trump's Return Could Spark Major Shifts in Agri-Food Trade

Donald Trump secured a victory over Kamala Harris in the 2024 U.S. Presidential Election on November 5, marking a return to leadership that could bring sweeping changes to the agricultural commodities markets.

With a second term, Trump’s decisions could pave the way for notable shifts within trade policy, foreign relations and regulatory approaches.

At Expana’s Agri-Food Americas conference in Chicago last month, Alex Kazan, Partner and Geopolitical Co-Lead, Brunswick Group explained the massive impact the 2024 election would have on agricultural markets...

Silver Bay Partners with APICDA in False Pass, Buys More Plants in Aleutians, AK Peninsula

Yesterday the Aleutian Pribilof Island Community Development Association (APICDA), and Silver Bay Seafoods jointly announce a partnership regarding processing operations in False Pass, Alaska. 

“APICDA will assume ownership of the False Pass facility (formerly owned by Trident), and Silver Bay Seafoods will lease and manage the operations of the facility and fuel company,” the November 6 joint release said. “This strategic partnership will support seafood processing stability in the region during a time of change in the seafood processing sector.”

In early June, Silver Bay Seafoods...

ANALYSIS: Global Demand Boosts Illex Squid Prices as Supply of Other Species Declines

The Illex squid (Illex argentinus) main season finishes in August 2024. Typically, landings are concentrated in the first half of the year (figure 1). The month with the highest landings this year was February, with 50,224.8 mt, as Argentina’s Ministry of Agriculture, Livestock and Fisheries reported. In 2024, the total landing of Illex squid has overtaken the total landing in 2023, reaching 153,785.8 mt, an increase of 0.33% compared to the total landing in 2023.

The export of Illex squid from Argentina...

Nissui to Import 35 Tons of U.S. King Crabs at Record Domestic Price

Bristol Bay king crab's domestic wholesale price for both cooked and raw frozen has reached a new record high. Cooked brine-frozen (No. 1) and raw frozen are 16,000 yen/kg ($103.81/kg), 20-30% higher than last year. Nissui plans to import 35 tons of cooked and raw frozen crabs (47 tons last year). Several Japanese trading companies import Bristol Bay king crabs every year, but this year, as with last year when prices were high, it is believed that only Nissui is importing...

Cousins Maine Lobster Celebrates 75th Unit Opening with Launch in Jacksonville, FL

Cousins Maine Lobster, the Shark Tank phenom started by real life Cousins, Jim Tselikis and Sabin Lomac, proudly announces the grand opening of their 75th unit this week, in Jacksonville, Florida. The brand, started in April 2012, now has 4 restaurants and 71 food trucks with reach across more than 30 states.

The milestone is a big cause for celebration for the brand. In addition to celebrating 75 units, they are also welcoming new franchisees to the system, business partners...

ANALYSIS: Fresh Chilean Salmon Fillet Imports Down 12 Percent Through September 2024

The September 2024 imports were just released by the U.S. Census, and Chilean fresh fillet salmon imports continued the year down 12.3 percent year-to-date. The fresh salmon fillet category, as a whole, is down 8.4 percent through September 2024. Norwegian fresh fillets are up 12.1 percent through the same time period, with fillets out of the Netherlands up 13.1 percent. The Netherlands is further processing Norwegian fish, and together, their market share is 69.7 million pounds or 21 percent compared to Chile’s 71 percent and 237.5...

Trump Victory to Reverberate Through Global Economy

Donald Trump's victory in the race to become the next U.S. president will have economic consequences for the rest of the world that are likely to be deep and quite immediate.

If Trump enacts just a fraction of his pledges - from higher trade tariffs to deregulation, more oil drilling and more demands on America's NATO partners - the strain on government finances, inflation, economic growth and interest rates will be felt in every corner of the world...

Red Lobster Names New Chief Operating Officer

The reshuffling of seafood chain Red Lobster’s executive leadership continues with the addition of Larry Konecny as the company’s new Chief Operating Officer (COO). Konecny will be tasked with leading the operational strategy of the brand’s 545 restaurants across the U.S. and Canada.

Reporting directly to CEO Damola Adamolekun, the company announced he will drive initiatives to deliver elevated food quality, customer service, and operational efficiency while fostering a culture rooted in teamwork and excellence.

"Larry brings an exceptional combination of operational expertise, a passion for developing high-performing teams...

Prime Shrimp’s Value-Added Products Hits Whole Foods Shelves

Following a handful of product line expansions throughout 2024, value-added shrimp brand Prime Shrimp will now be on the shelves in select Whole Foods Market stores across the U.S. through four of its flavors—Signature, Lemon & Cracked Pepper, Garlic Herb Butter, and New Orleans-Style BBQ.

The products will be available in over 200 Whole Foods stores in the Northeast, North Atlantic, Mid-Atlantic, South, and Southwest.

“Expanding Prime Shrimp’s availability in the U.S. by launching with Whole Foods Market marks the achievement of a long-held aspiration for our... 

Nova Scotia Fishing Group Seeks $10 Million in Damages Over Illegal Lobster Trade

A Nova Scotia commercial lobster fishing group has taken legal action against Independent Fisheries Limited for allegedly buying illegally caught lobsters in St. Mary’s Bay.

The United Fisheries Conservation Alliance (UFCA) filed a Notice of Action with the Supreme Court of Nova Scotia against the firm and its owner, Xiaoming Mao, along with Jason Lamrock, Tyler Nickerson, Sandra Nickerson, Shawna Nickerson, David Nickerson, and Wesley Nickerson, according to a UFCA press release.

The UFCA, which represents lobster fishing organizations throughout the province...

Premium Brands Sees Record Q3 Revenue Despite Challenges; Lobster Sales Up, Volume Dips

Major Canadian food company Premium Brands Holdings unveiled its third-quarter financial results, which saw the firm land a record third-quarter revenue of CAD 1.67 billion (US$1.2 billion). The company said it saw solid progress in its Specialty Foods’ core U.S. growth initiatives in protein and baked goods. However, its sandwiches group was impacted by consumer demand challenges that hit a major customer.

“Despite temporary headwinds faced by our Sandwich group in the quarter, we remain on course and continue to make...

Mowi's Current Biomass Drives Confidence in Future 600,000t Harvest Target

Salmon farming giant Mowi achieved record-high operating revenues of EUR 1.44 billion (US$1.56 billion), leading to an operational profit of EUR 173 million.

“This was yet another good quarter for Mowi, with our best ever seawater production and harvest volumes of 161,000 tonnes. We’ve never had more fish in the sea, with biomass in sea up 4.4% year-on-year at quarter end,” Mowi CEO Ivan Vindheim said.

Mowi expects to reach its harvest volume guidance for 2024 at 500,000 metric tons. And the company has even greater expectations for the coming years. Mowi announced that its current record-high biomass at sea supports its 520,000 MT volume guidance for 2025. This would be the first milestone as it looks to reach 600,000 MT of harvesting volume in 2029.

D.C. Appeals Court May Uphold Fishery Monitoring Rule Even Without 'Chevron' Doctrine

Yesterday, the issue of whether a group of New Jersey herring fishermen should have to pay for onboard observers was argued before the D.C. Court of Appeals once again, this time 'on remand' from the U.S. Supreme Court, which overturned the 40-year-old legal doctrine last June. 

Shortly after the hearing, Reuters News Service reported that two of the three Court of Appeals judges who previously upheld the rule “appeared open to doing so again after assessing whether the Magnuson-Stevens Act would allow for such an ...

The Retail Rundown: Holiday Countdown Rapidly Winds Down

With Thanksgiving just three weeks away, the holiday rush is fueling retail traffic as shoppers stock up on essentials. This week, turkey promotions account for 3.3 percent of all protein ads, down from 5 percent the previous week. The number of grocery chains featuring turkeys also declined, with 39 chains participating, compared to 49 chains a week earlier.

Despite fewer promotions, fresh whole turkey sales rose week-over-week, reaching $1.3 million last week, up from $909,368 the week prior, according to Circana...

Atlantic Groundfish Council, FFAW React After DFO Completes 3Ps Cod Stock Assessment

Canada’s Department of Fisheries and Oceans (DFO) held a technical briefing on the 3Ps cod stock assessment, which found that the stock is growing but at a slow pace, as has been the case in recent years.

“Continued growth is welcome news and while I am hopeful that this growth will be sustained, only time will tell us that for certain,” said Vanessa Byrne, Director of Fisheries Management and Science with the Atlantic Groundfish Council (AGC). “We are doing what we can to...

Russian Government Approves Concessions for Domestic Pollock Producers 

The Russian government has approved concessions for domestic producers of pollock by adopting a decree exempting frozen sardines and pollock fillets from exchange rate export duties.

According to data from the Russian Pollock Association, pollock fillets are strategically important for the entire Russian fish sector, accounting for 35% of the catch and production of fish products in Russia and about 80% of export revenue.

The government's decision comes into force on November 10 and can be considered a victory for producers. Their...

BrownGreer, Carbon Trust Selected to Lead Creation of Offshore Wind Fisheries Compensation Fund

BrownGreer in partnership with the Carbon Trust are proud to announce our selection as the team to design and develop a regional fisheries mitigation program, which will provide fair and equitable financial compensation to the commercial and recreational for-hire fishing community from impacts from offshore wind on the East Coast.

For over three years, 11 East Coast states have been working collectively -- and with engagement with the fishing community and offshore wind developers -- to bring this initiative to such an important milestone. BrownGreer...