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Sustainability
Trump’s pick to head Commerce, NOAA expected to lead tariff agenda, too

By and Nov 20, 2024 06:10pm

Donald Trump's choice to head the Department of Commerce will have a lot of say over commercial fishing and is expected to also lean heavily into trade policy

Prices
UCN makes key hires on path to build global seafood PRA

'These hires are important to our next growth phase in becoming the leading pure-play seafood price reporting agency' -- Tom Seaman, Undercurrent News

World
Seafood group says Canadian port strike is big deal, applauds minister’s action

The Fisheries Council of Canada is urging swift action to address backlogs and stabilize port operations

Prices
Shrimp gains ground in US retail market amid lower prices 

By

Consumer optimism, paired with shrimp and salmon’s strong performance, signals a promising outlook for seafood as the holiday season approaches -- Anne-Marie Roerink, 210 Analytics

Latin America
Peru anchovy landings aimed at fishmeal production rise, but overall catches drop

By

The total volume of Peru seafood landings fell by 22.2% in volume and 14.6% in value to 78,500 metric tons worth PEN 156.5 million in September

Trade
China, US lead surge in Peruvian seafood exports as global demand soars

By

Peru's seafood sector saw a remarkable surge in exports during September, with total shipments reaching 111,800 metric tons worth $273.5 million

Yellowfin tuna
Vietnam seafood processor issued FDA warning letter after histamine poisoning incident

A complaint was filed against Vietnam's Golden Shrimp Seafood Joint Stock Company after a consumer got histamine poisoning from a yellowtail tuna product

Fishing
Silver Bay in takeover talks for OBI’s Alaska plants

By

More processing consolidation is being mooted in Alaska, with acquisitive industry giant Silver Bay in talks to take control of OBI's 10 plants and buying stations in the US state

Fish sticks from Channel Fish Processing. Credit: Channel's website
Prices
Trident, Channel Fish divvy up new USDA Alaska pollock contracts worth $2.1m

By

The USDA awarded contracts for 920,000 lbs of four different types of Alaska pollock products to Trident Seafoods and Channel Corporation

Seafood entrepreneurs
Returning Mitsui & Co. exec aims for $65m export boost

By

Mitsui & Co. Seafoods, the seafood division of Japan's conglomerate Mitsui & Co., is targeting a JPY 10bn increase in annual revenue over the next few years through its global expansion

Legal
US mislabeling scheme saga continues with seafood restaurant’s sentencing

By

More sentencing in the conspiracy to misbrand seafood is expected when wholesaler Quality Poultry and Seafood and two of its managers return to court on Dec. 11

Yellowtail
Nissui expands domestic aquaculture operation to boost exports

By

The Japanese seafood giant is accelerating its domestic aquaculture production, including tuna, salmon, and yellowtail, as part of a strategic push to increase export revenues

Feed
Avanti Feeds Q2 profit jumps 47% on EU sales lift

By

Avanti's processed shrimp business recorded substantial gains in EU market share, which jumped to 19% in Q2 fiscal 2025 from just 4% a year earlier

Prices
Brazilian tuna processor sets sights on US expansion, UK resurgence

By

Brazilian processor Produmar aims to strengthen its sales in the US seafood market and resume shipments to the UK after a six-year hiatus

M&A
New Brunswick lobster processor joins growing crowd looking for buyers

By

LeBreton Fisheries, in New Brunswick, might be the biggest Canadian lobster company seeking a buyer at the moment, but it's not alone

Prices
China whitefish buyers worry with H&G cod, haddock prices stable at record levels

By

In week 46, Undercurrent News has kept its price assessments for frozen, trawl-caught H&G from Russia and Norway stable at record levels amid growing market panic

Atlantic salmon
Scottish salmon farming moratorium debate heats up as MPs weigh future

By

As the sector faces increasing pressure to meet environmental standards and improve the health and well-being of its fish, the question of whether further expansion is prudent comes again to the forefront

Europe
New 12-tank grow-out facility to open in Q1 at Iceland’s Kaldvik

By

Harvest guidance for 2024 is 15,000t, but it said it is on track to double that with an ongoing investment program

Prices
Demand strong for Vietnamese pangasius as exports return to two-year high

By

Vietnam's exports of pangasius were back up at 90,000t in October, with EU prices rising strongly into November and Chinese prices improving slightly

Zhenhai Qu, chairman of Dalian Haiqing Food
Prices
Surging Atlantic cod prices prompt China to seek alternatives

By

'Price increases will lead to a reduction in China's imports, and the market is clearly feeling the impact of rising Atlantic cod prices, prompting the search for alternatives' -- Dalian Haiqing's boss

Supply
Nordic Halibut sees modest revenue growth but expansion costs incur losses

By

Nordic Halibut has seen modest revenue growth in its third-quarter 2024 financial results, though the company incurred losses as it continues to invest heavily in its long-term expansion plans

R&D
Aussie aquaculture sector set for growth with introduction of new whitefish species

A new variety of whitefish could soon be making its way to Australian households, with the potential to generate over AUD 1bn for the nation's economy

Sustainability
European tuna sector gains partial relief as ICCAT reduces FAD moratorium, urges stronger action

Industry leaders in Europe are calling for stronger action on monitoring and compliance to ensure fair competition and sustainable fishing practices

Europe
Mowi shareholders confirm Svanevik as new chair

Shareholders in Mowi, the world's biggest salmon farmer, have approved the appointment of Orjan Svanevik as new board chair

India
India’s Apex Frozen Foods sees shrimp market recovery despite Q2 loss

By

Indian shrimp processor Apex Frozen Foods reported a quarterly loss as higher costs and supply constraints weighed on margins, though it forecast improving market conditions ahead for the sector

Seafood entrepreneurs
Ex-bankrupt with past seafood theft conviction buys back UK plant in pre-pack deal

By

A new UK seafood company that has inked a pre-pack administration deal for a processing plant is connected to Alistair Ramus, a man with a history of fraud in the industry

Companies
Daily recap: EU importer looks for investor; Big changes for world’s largest snow crab fishery

Undercurrent News presents a recap of the top daily seafood stories from Tuesday, Nov. 19

Vessels
American Seafoods promotes Andreassen to CEO after Gustafsson’s exit

By

The largest US at-sea pollock processor, American Seafoods, has promoted long-time executive Inge Andreassen to CEO

Indian shrimp from Sandhya Aqua.
Analysis
ITC rules US shrimp industry suffered as a result of imports, cements AD, CVD rates

By Nov 19, 2024 08:50pm

The anti-dumping and countervailing duty rates that the US handed importers of shrimp from India, Ecuador, Indonesia and Vietnam are now set in stone, and probably in place until at least 2027

Prices
Hokkaido salted herring roe drives prices down in Osaka’s year-end auction

By

Japan's Osaka Wholesale Market held the auction for salted herring roe on Nov. 15, with a surge in domestic herring roe from Hokkaido pushing down prices

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