Asian Seafood Markets Impacted by Russia-Ukraine War
The war between Russia and Ukraine has exerted great influence on different sectors of the global market.
One victim has been seafood industries worldwide. Russia has spent great efforts in seafood promotion within recent years and it has been rising in prominence. Russian seafood exports have increased by 33.7 per cent to US$7 billion in 2021, according to the Russian Federal Agency for Fishery.
But now everything has been disrupted.
In the face of war sanctions, seafood trade between ...
Anti-Russia Sanctions Could Hit Crab, Groundfish with Price Volatility
On February 24, Russia mounted a full-scale invasion of Ukraine, dashing any lingering hopes of a smaller-scale, more contained event.
In the build-up to this conflict, the U.S. has managed to forge a stronger united front with Western Europe than most expected. Germany’s decision to suspend the Nordstream 2 gas pipeline, which will lead to sharply higher energy prices in Europe and elsewhere, is a measure of how seriously the Western governments are taking the invasion.
Sanctions are ...
2021 Was Fantastic for Seafood as Disruption Played to Our Strengths
The seafood industry is coming off a fantastic year, despite the turmoil and disruption of the pandemic.
First, some numbers. When I went to analyze what happened with the U.S. seafood supply in 2021, I was blown away by our success.
Using the data through October as a proxy for the year, we imported 4.2 billion pounds, six per cent over the volume of 2020 and 11 per cent over the volume of 2019. The value of these imports was up a staggering 24 per cent from their values in 2020.
Seafood Sector Worth $1.2 Billion Annually to P.E.I. Economy
‘We’re in a good position as a province,’ says Minister
The seafood industry continues to be a driving force for the Prince Edward Island economy, powered by the production of mussels and oysters and the commercial lobster fishery.
According to the PEI Seafood Sector Economic Contribution Study released in October 2021, the economic value of the P.E.I. seafood industry in 2019 had a combined economic impact of $1.2 billion to the Island’s economy.
“That’s a huge ...
Demand for N.B. Seafood at an All-Time High
New Brunswick seafood exports reached an all-time high in 2021, surpassing $1.9 billion from January to October.
“New Brunswick saw the largest growth in Canada for seafood exports with an additional $742 million in revenues, surpassing every other Canadian province by at least $230 million,” said Margaret Johnson, Minister of Agriculture, Aquaculture and Fisheries.
“With an increased demand for frozen seafood at both food service and retail markets, New Brunswick captured that ...
Grieg Outlines Ongoing Development of N.L. Operations
Plans are on track for the first three million smolt from the Grieg Seafood N.L. salmon hatchery and nursery in the Marystown Industrial Park to be transferred to marine grow-out sites in Placentia Bay next spring.
One of the world’s largest indoor hatchery and nursery facilities, Grieg’s operation incorporates recirculating aquaculture systems (RAS) technology designed by AquaMaof, Israel.
“Their design is a total recirculation of water to retain as much water as we possible ...
Seafood Inflation May Be Less Than Meets the Eye
In the past couple of months, several news stories have highlighted the difficulty some restaurants are having coping with higher seafood prices.
“Very few products are not going up in price,” Santa Monica Seafood President and CEO Roger O’Brien told SeafoodSource recently.
The price inflation in the distributor, processor and food service operators’ sales to foodservice customers alone was a “whopping 29 per cent” in June, O’Brien said.
This surge was a result of a ...
Are Right Whales Impacting Consumer Lobster Purchases?
As a few innovative Nova Scotia companies forge ahead with efforts to develop new ropeless fishing technologies, the presence of right whales continues to be a concern for area lobster fishermen and the industry in general.
While the majority of Atlantic right whale sightings in Canadian waters and subsequent fishing closures have taken place to the north in the Gulf of St. Lawrence, lobster fishermen are still worried about an upsurge in the lobbying effort to further protect the endangered ...
The U.S. Seafood Market Firing on All Cylinders Could Raise Global Market Share
All of us have been amazed at the strength exhibited by frozen food and in particular frozen seafood during the COVID-19 pandemic.
Rather than the collapse of foodservice leading to less consumption, American consumers used money they saved by not eating out to increase their share of higher end retail seafood purchases.
This was dramatically evident in the retail demand for crab and lobster and it has been reflected in pricing.
But another interesting thing is happening in the ...
New Website Promoting Canadian Seafood
Canada is world-renowned for producing some of the most exceptional seafood in the world.
The taste and quality of Canadian seafood is unlike anywhere else in the world. That is why Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland and Labrador, have launched a new website, Seafood from Canada, to promote the region’s seafood to international export markets. The new website is www.SeafoodfromCanada.ca
“Canadian seafood harvesters, farmers and processors work tirelessly ...