The Winding Glass: Could China be the Wildcard for Seafood Pricing in 2024?
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Most US and Canadian seafood products are trading at much lower values this year due to the market correction we are experiencing.
We have argued the primary cause is a shift in retail seafood demand. First, consumers reversed their pandemic spending on seafood products, and they grew more resistant to price increases.
At the same time, Retailers insisted on selling through their high-priced inventories without substantial discounts. The result has been a sales velocity slowdown across almost all categories, leading to increased inventories, lower prices, and a brutal competitive environment.
This has been especially true in shrimp, crab...
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