Les Hodges: The Holiday Buying Season Begins with New Alaska Fisheries

The Alaska king and snow crab fisheries are underway, with all eyes looking north. This season, the red king crab quota has been raised by 7.5% to 2.310mm pounds. Meanwhile, tanner (or bairdi) snow crab has seen a remarkable increase, tripling last year's quota to 6.27 million pounds. Additionally, there's an unexpected opening for opilio snow crab, with a quota set at 4.720mm pounds. However, St. Mathew blue king crab and the Pribilof red and blue king crab remain closed.

Norway also announced 2025 quotas...

Fisheries of the U.S. 2022 Report Reflects Slightly Lower Landings, Value, Consumption Than 2021

Between 2021 and 2020, U.S. per capita consumption of seafood products fell to 19.8 pounds from 20.5 pounds the year earlier.

Commercial landings in the United States also dropped slightly in 2022 were 8.4 billion pounds valued at $5.9 billion, down by 2.6 percent (224 Mlbs) by weight and 11 percent ($632 million) by value. The 2022 average ex-vessel price paid to fishermen was 70 cents per pound, 6 cents less than in 2021.

The nation’s largest commercial fishery remains Alaska polock, with ...

Russia Shifts Crab Exports to Asian Markets; Domestic Demand Remains Strong

Russia has been increasing crab exports to the Asian region lately due to the ever-growing demand and increased sales.

According to Japanese customs data, in September 2024, Russia sold a record volume of crabs to Japan since the end of 2023.

According to the results of September, Russia increased crab supplies to Japan by almost 1.5 times compared to August, to 1.900 tons worth US$34.8 million. This became a record in value and volume since the end of 2023...

Thai Union Q3 Results Driven by Improved Ambient, PetCare and Value-Added Segments

Thai Union Group reported continued growth in net profit to THB 1.4 billion (US$41.2 million) in the third quarter, a 4% increase year-on-year. The firm said its bottom line success reflects its “improved operational performance across the three core businesses: Ambient, PetCare and Value-added.”

The company’s sales increased by 2.7% to THB 34.8 billion, and sales volumes jumped by over 10%. Credit again headed towards its Ambient, PetCare, and Value-added categories...

The Season's First Opilio Snow Crab Fetched JPY 2.8 Million per Crab on the Japan Sea Coast

Snow crab fishing, a seasonal winter feature in the Sea of ​​Japan, was opened simultaneously in Japan Sea coastal prefectures on November 6. In the Tajima region of Hyogo Prefecture, which boasts one of the most significant catch volumes in the country, crab boats sailed out from four ports, two of which held their first auctions on the same day. The highest price was for a hardshell male crab, known by a regional brand, Matsubagani, landed at Hamasaka Fishing Port, selling...

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...

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.

Cooke to Acquire Peru’s Largest Fishing Company Copeinca

Seafood giant Cooke Inc. has entered into an agreement to purchase all outstanding shares of Corporació n Pesquera Inca S.A.C. (Copeinca), one of the largest producers and exporters of fishmeal and fish oil.

Cooke and PF Cayman New Holdco Limited executed a binding share purchase agreement. A wholly owned Cooke subsidiary will indirectly acquire all outstanding shares of Peru-based Copeinca.

The Peruvian firm was established in 1994 and is now the largest fishing company in the country. It employs 2,770 people and has 45 vessels and 8 processing plants that span the...

ANALYSIS: U.S. Shrimp Imports See Modest Rebound After Consecutive Months of Decline

The U.S. Census released data confirming that U.S. shrimp imports have increased slightly following three straight declines. September imports increased 0.5 percent to 156.6 million pounds...

SeafoodNews Closed on Monday, November 11

AquaBounty Technologies Announces Third Quarter 2024 Financial Results

AquaBounty Technologies, Inc. (NASDAQ: AQB) ("AquaBounty" or the "Company"), a land-based aquaculture company utilizing technology to enhance productivity and sustainability, today announced the Company's financial results for the third quarter and nine months ended September 30, 2024.

Third Quarter 2024 Highlights and Recent Developments

- Net loss in the third quarter of 2024 was down significantly at $3.4 million as compared to $6.1 million in the third quarter of 2023, primarily due to the sale of the Indiana farm.

- Cash, cash equivalents and restricted cash totaled $500 thousand as...

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...