Saving Seafood

Economic Impact

Experts predict US container ports will see a surge in imports, higher prices through spring 2026

December 11, 2024 — Experts from the National Retail Federation (NRF), Hackett Associates, and container price tracking service Container XChange are predicting a surge in imports and price hikes into major U.S. container ports that are likely to last at least a year, citing President-elect Trump’s proposed tariffs and a possible resumption of strikes along the East and Gulf coasts as primary reasons. 

“Either a strike or new tariffs would be a blow to the economy, and retailers are doing what they can to avoid the impact of either for as long as they can,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said in a release. “We hope that both can be avoided, but bringing in cargo early is a prudent step to mitigating the impact on our industry, consumers, and the nation’s economy.”

Read the full article at SeafoodSource

After strong Thanksgiving weekend sales, US December grocery forecast looks cheery

December 5, 2024 — Early data analyzing U.S. shopping trends during this year’s Thanksgiving holiday weekend could be a harbinger of good news for grocery and food sales in December.

According to new research from the National Retail Federation (NRF) and data firm Prosper Insights & Analytics, 197 million people shopped – for either food or non-food items – during the five-day holiday weekend from Thanksgiving Day on 28 November through Cyber Monday on 2 December.

Read the full story at SeafoodSource

New taxes are coming for imported shrimp. SC shrimpers say it’s about time.

December 3, 2024 — South Carolina shrimpers will begin to feel some relief from the pressures of cheap, imported frozen shrimp.

The U.S. International Trade Commission and the Department of Commerce will impose added taxes on the seafood product that’s flooded the market in recent years.

For shrimpers, it’s a welcome reprieve from the years of price gouging that’s run many fishermen out of business.

For consumers, it can mean higher prices on the frozen warmwater shrimp commonly found at grocery stores like Walmart and Costco.

The influx of imported frozen shrimp and unfair trade practices have injured the domestic shrimping industry, the United States International Trade Commission ruled in November.

Read the full story at The Post and Courier

Trump’s tariff proposal on goods from Canada, Mexico, and China would affect over USD 5.6 billion in seafood

November 27, 2024 — U.S. President-elect Donald Trump proposed big hikes in tariffs on all goods from Canada, Mexico, and China on 25 November in a move that would affect one-fifth of all U.S. seafood imports by value.

Trump, posting on his Truth Social platform, said he would charge tariffs of 25 percent on all products from Mexico and Canada and 10 percent tariffs on goods from China – above any existing tariffs.

Read the full article at SeafoodSource

Cooke finalizes acquisition of Copeinca

November 26, 2024 — Cooke Inc. has finalized its acquisition of Peru-based Corporación Pesquera Inca S.A.C. (Copeinca), the country’s largest anchoveta-fishing firm.

New Brunswick, Canada-based Cooke announced its plans to purchase the company on 7 November. Using a binding share purchase agreement, a wholly owned subsidiary of Cooke – Copeinca Canada Inc. – will indirectly acquire all outstanding shares of Copeinca from PF Cayman New Holdco Limited.

Read the full article at SeafoodSource

California’s Squid Fishery: The Largest in the U.S. and an Economic Powerhouse

November 25, 2024 — California holds a unique distinction in the United States as home to the largest squid fishery by both volume and revenue. While most Americans might think of squid as a side dish or appetizer at seafood restaurants, in California, market squid fishing has a deep-rooted history and serves as a significant contributor to the state’s commercial fishing economy. California’s market squid (Doryteuthis opalescens), commonly known as opalescent squid, not only drives revenue and jobs in the fishing industry but also exemplifies how sustainable practices are becoming integral to modern fisheries. From humble beginnings to MSC-certified status, California’s squid fishery is a fascinating example of how one invertebrate species has created waves in the fishing world.

The market squid fishery in California traces back to the late 1800s when it was first established by Chinese immigrant communities. Squid were traditionally caught along the Monterey coast and processed in drying sheds before being shipped to markets in Asia. By the early 20th century, Italian and Portuguese fishers had also joined the fishery, contributing their own techniques and expanding the industry’s reach. Over the decades, demand for California squid has grown substantially, both domestically and internationally.

While the fishery has had its ups and downs due to natural fluctuations in squid populations, advancements in fishing technology and increased demand in global markets has helped transform the fishery from a small-scale industry into a commercial powerhouse by the late 20th century. By the 2000s, California’s market squid fishery had not only stabilized but had become one of the largest and most profitable fisheries in the state. The industry now generates millions in revenue annually, rivaling other prominent California fisheries such as Dungeness crab. 

As of 2022, California’s market squid fishery reported an astonishing catch volume of over 147 million pounds, which translates to approximately $88 million in revenue. These numbers alone highlight the economic power of the fishery, yet it’s even more impressive when compared to other notable fisheries.

Read the full article at The Log

Trident wins majority of USD 2 million worth of USDA pollock contracts

November 22, 2024 — Seattle, Washington, U.S.A.-based Trident Seafoods won the majority of new U.S. Department of Agriculture (USDA) contracts to supply Alaska wild pollock.

Trident will supply USD 1.6 million (EUR 1.5 million) worth of pollock out of a total USD 2.05 million (EUR 2 million) worth of contracts, while Channel Fish Processing in Braintree, Massachusetts, U.S.A., will supply around USD 448,000 (EUR 423,000) in pollock.

Read the full article at SeafoodSource

“A tariff is a tax” – Experts weigh in on the likely effects of Trump’s proposed tariffs

November 21, 2024 — Donald Trump campaigned on a policy of aggressive tariffs intended to spur manufacturing in the United States and strengthen U.S.-based supply chains. Now that he’s been elected, some business groups are expressing concerns about how such changes would affect American industries.

National Retail Federation (NRF) Vice President for Supply Chain and Customs Policy Jonathan Gold told SeafoodSource the proposed tariffs are likely to pass major costs on to American consumers, who are already suffering from record inflation post the Covid-19 pandemic.

Read the full article at SeafoodSource

Top U.S. ports for a quarter century

November 21, 2024 — For the 25th consecutive year, Dutch Harbor, AK, and New Bedford, MA, ranked as the top U.S. fishing ports for volume and value in 2022.

Nationwide, commercial landings that year were 8.4 billion pounds valued at $5.9 billion, down by 2.6 percent and 11 percent ($632 million), respectively.

Those are two of the top takeaways from the annual Fisheries of the United States report released this month by NOAA Fisheries. The data show a downward press almost across the board from Covid-driven impacts as the global pandemic waned in 2022.

The easy-to-read, 23-page report provides a national snapshot of U.S. commercial fisheries, aquaculture, seafood processing, imports and exports, market trends, and per capita consumption.

Read the full article at National Fisherman

US seafood sales improve in October on the back of slight price inflation

November 19, 2024 — Seafood sales rose at U.S. retail stores in October, thanks in part to a slight uptick in price inflation.

Shelf-stable seafood sales have performed consistently well in 2024 and did the same in October, realizing a sales spike by value of 1.7 percent year over year to USD 244 million (EUR 230 million). Sales by volume in the category rose 4.7 percent during the month, according to data from research firm Circana that was analyzed by 210 Analytics.

Read the full article at SeafoodSource