ANALYSIS: Record Price Swings and Seasonal Shifts for Atlantic Halibut in 2024

Atlantic halibut pricing in 2024 has been marked by notable volatility, driven by seasonal factors and external market dynamics. Fishermen shifting gear to target species like swordfish, tuna, or lobster, combined with the unpredictable nature of North Atlantic weather, have significantly impacted fishing efforts. These disruptions often result in abrupt changes in supply, leading to rapid price fluctuations. While volatility is characteristic of this market, this year has seen more pronounced swings than usual.

The year began with an average price of $15.75 per pound, reflecting the...

Pacific Seafood Lands $1.3 Million USDA Salmon Contract

Clackamas, Oregon-based Pacific Seafood Group won a $1.3 million contract to sell 108,000 pounds of frozen wild salmon fillets to the U.S. Department of Agriculture (USDA) for use in child nutrition and domestic food distribution programs.

Specifically, the Purchase Award Description from the USDA indicated that Dulcich Inc., Pacific Seafood Group’s parent company, won the entire contract. The USDA did note that 12,160 cases (8 truckloads) of Kosher caned pink salmon and an additional 48,640 (32) truckloads of product was not awarded due to price consideration.

Novo Holdings to Acquire Benchmark Genetics

Novo Holdings, the Denmark-based holding and investment company responsible for managing the assets and the wealth of the Novo Nordisk Foundation, just announced that it will acquire the Norwegian fish genetics company Benchmark Genetics from Benchmark Holdings plc for an enterprise value of up to £260 million.

Benchmark Genetics is an aquaculture biotechnology company headquartered in Bergen, Norway, with customers in more than 50 countries and breeding centers located in Norway, Iceland, Chile, the U.S., and Colombia. A leader in aquaculture genetics, Benchmark Genetics employs more than...

NOAA Fisheries Hosting Trio of Observer Safety Workshops

NOAA Fisheries and the Office of Law Enforcement will host a trio of workshops for members of the fishing industry that will answer questions about harassment and to further support observers in the field.

The workshops will be hosted in person and will have a hybrid option for those interested in participating virtually, per the NOAA Fisheries event page.

“Workshops are voluntary and the topics will include: what constitutes harassment, how to communicate safety-related concerns, how NOAA's Office of Law Enforcement follows up on harassment reports, and more...

ANALYSIS: 2024 Q1-Q3 EU & UK Shrimp Imports Slightly Rise, China Declines

The three largest markets for warm water shrimp are China, the US, and Western Europe (EU & UK).

When comparing the trends of the volumes purchased by these nations, the EU, UK, and the US have shown some growth since June, while Chinese volumes are collapsing after a peak in May.

According to the latest census data, the total volume imported by these three regions in September was 189k MT, which is 14.5% down from last year. For Q3, imports, at 581k MT, declined by 8.8%...

Russian Fish Union Says Domestic Shellfish Sales Improving

Seafood sales are steadily growing in Russia these days, as, despite sanctions, the purchasing power of local customers remains high.

According to the All-Russian Association of Fish Producers, sales of mussels, octopuses, oysters, and most types of shellfish in the local market this year have increased by almost 20% compared to 2023. At the same time, the demand for some items is even higher. For example, sales of frozen scallops and squid grew by 1.5 times compared to last year. In value terms, the growth of sales is equivalent...

Norcod AS Hires Arve Olav Lervåg as Production Director

Norcod AS announced today that it has hired a third senior executive since January 2024, adding Arve Olav Lervåg as production director. In early September, Norcod hired Stian Vollan-Hansen as its new Chief Financial Officer (CFO). Last January, Norcod CEO Christian Riber announced the addition of Chris Goldberg as chief communications officer. 

Both Lervag and Vollan-Hansen will begin working on December 1, 2024.

Arve Olav Lervåg has worked in aquaculture for 27 years, most recently as Executive Director of Aquaculture ...

Photo courtesy of Norcod, by Berre. 

Breakthrough Achieved in ICCAT’s Challenging Negotiations to Manage Atlantic Tuna, Swordfish

At long last, new management measures for Atlantic tropical tunas and North Atlantic swordfish have been adopted by the International Commission for the Conservation of Atlantic Tunas (ICCAT) that will apply to all Atlantic tropical tunas, including bigeye, skipjack, and yellowfin tuna. The negotiations involved a diverse set of parties from around the world with widely divergent fisheries, conservation, and development interests. 

One result of the newly adopted control measures and allocation decisions is that the United States has solidified its current level of access to the fishery and ...

Photo of tunas: NOAA Fisheries

Two Men Caught Trafficking Juvenile Eels From Puerto Rico to Asia, Both Now in Jail For 2 Yrs.

In an ambitious plan that didn’t get very far, two men from the Dominican Republic spent months last year harvesting juvenile American eels (Anguilla rostrata), also known as glass eels, in the rivers around Levittown, Puerto Rico on the island’s north coast.

According to court documents, “Once they caught the eels, the defendants kept them alive with an oxygenation system while a boat was built to travel back to the Dominican Republic. 

“On Feb. 21, both defendants left Puerto Rico bound for ...

Strong Middle Eastern Demand Boosts Thai Tuna Export Figures

The export of Thai tuna increased by 33.27% y-o-y in September, as Global Trade Tracker informed. The increase in export levels was linked to a strong rise in demand led by Middle Eastern markets such as Saudi Arabia, Egypt, and Israel, with a growth in exports of 10.84%, 129.93%, and 120.36% YTD, respectively.

Thailand’s Office of Trade Policy and Strategy (OTPS) under the Ministry of Commerce credited Middle East nations behind Thailand's strong canned tuna exports in an update published earlier this month. OTPS pointed towards stockpiling...

Subway Announces CEO Transition

Subway, one of the world's largest restaurant brands, today announced that John Chidsey, Global Chief Executive Officer (CEO), will retire from the company at the end of 2024, after five years of exceptional leadership in the role. Carrie Walsh, Subway's current President of Europe, Middle East and Africa (EMEA) and former Global Chief Marketing Officer (CMO), will assume the role of Interim CEO, while a search is conducted to identify John's permanent successor.

"I am honored to step into the role of Interim CEO, continuing to drive key initiatives to help...

Key Nova Scotia Lobster Fishing Areas to Open Tuesday After Delayed Start

Dumping Day for lobster fishing areas (LFA) 33 and 34 will begin on November 26. The staple Nova Scotia fishery was delayed due to heavy winds.

The start of commercial fishing for LFA 34, the larger of the two areas, will begin at 5 a.m. on Tuesday, while LFA 33 will begin at 7 a.m., per local media reports. Lobster Fishing Area 33 stretches from Cow Bay in Halifax Regional Municipality to Shelburne County; Lobster Fishing Area 34 covers Shelburne County to Digby County...

CA, WA Dungeness Crab Fisheries on Hold For Now

Following Oregon’s announcement of a delay in the state’s Dungeness crab season, both California and Washington said that a combination of factors will delay the seasons in those states, too.

Late last week, California Department of Fish and Wildlife Director Charlton H. Bonham announced the delay of the primary commercial crab season for Mendocino, Humboldt and Del Norte counties – Fishing Zones 1 and 2 in Northern California. The season would normally open on Dec. 1.

“Crab quality tests could not be conducted in ...

Threatened Coho Salmon Return to Upper Klamath River Basin for First Time in More Than 60 Years

Now this is something to salmon-brate!

First Chinook, now threatened coho have been documented returning to the upper Klamath River Basin after four dams were removed this year.

The California Department of Fish Wildlife said it’s been at least 60 years, not since the construction of the former Iron Gate Dam in the early 1960s, since agency personnel documented coho salmon occupying their historic habitat in the upper watershed. 

On Nov. 13, seven coho salmon ...

Seafood Industry Urges Biden to Halt Marine Monument Expansions

A group of 150-plus fishing and seafood industry associations, business and other stakeholders sent a letter addressed to President Joe Biden urging him to halt the creation or expansion of any Marine National Monuments in the U.S. Exclusive Economic Zone (EEZ) before he leaves office.

In the letter, the seafood coalition warned against “potential negative impacts such actions could have on the fishing sector and highlights the significant contributions of U.S. fisheries to the economy, environment, and food security,” per a press release from Saving Seafood.

Ecuador Dominates Skipjack Tuna Landings in the EPO

Skipjack tuna (Katsuwonus pelamis) and yellowfin tuna (Thunnus albacares) are crucial species in tropical tuna fisheries in the Eastern Pacific Ocean (EPO).

The Inter-American Tropical Tuna Commission (IATTC) has estimated that Ecuadorian skipjack tuna catches increased by 69.2% year-on-year (y-o-y) from Jan-Sep 2024, reaching 49,351 metric tons. In contrast, the catches for yellowfin tuna fell by 3.6% over the same period. Meanwhile, total tuna catches in the EPO increased by 32.0% y-o-y from Jan-Sep 2024...

Trace Register Partners with Raw Seafoods to Enable Full Chain Traceability and Compliance

Trace Register, a seafood traceability solutions company, recently announced its partnership with Raw Seafoods, a wholesale seafood supplier based out of Rhode Island and Massachusetts.

As part of its partnership, Raw Seafoods has rolled out Trace Register’s TR5 platform, which focuses on full chain traceability, product quality, and regulatory compliance through continuous monitoring and analysis capabilities.

For over 15 years, Trace Register has served clients in more than 50 countries. The traceability company utilizes GDST and GS1 databases and focuses on proactive compliance measures with key regulatory...