Saving Seafood

Economic Impact

Lawmakers push relief for West Coast seafood industry

March 2, 2023 — A bipartisan effort is underway to provide relief to local fishermen, seafood processors, and those facing food insecurity across the country.

Last month, lawmakers including Senators Jeff Merkley and Ron Wyden sent a letter to U.S. Department of Agriculture (USDA) requesting the purchase of West Coast seafood products for the USDA’s Section 32 program.

Section 32 began in 1935, purchasing surplus food products from farms and fisheries to go to food assistance programs and the National School Lunch Program.

Read the full article at KATU

US restaurants raising prices, streamlining menus

March 1, 2023 — Year-over-year sales totals at U.S. restaurants rose significantly in January, but foodservice operators continue to remain plagued by sky-high food, labor, and energy prices.

Sales at U.S. eateries soared 24 percent in January to USD 95.5 billion (EUR 90 billion) on a seasonally adjusted basis in January, according to preliminary data from the U.S. Census Bureau. The figure is also up over both November and December 2022, which each saw roughly USD 89 billion (EUR 84 billion) in sales, according to the National Restaurant Association.

Read the full article at SeafoodSource

“Shippers’ revenge” begins with tables turning on cargo costs”

March 1, 2o23 — Shipping prices have cratered in recent months, giving seafood companies the ability to seek “payback” from cargo companies that inflated prices to quadruple or more what they had been prior to 2021.

A long line of transportation and logistical snags caused gridlock at ports around the world in 2021, taking more than a year to resolve. With containers and ship space at a premium, shippers like Maersk and MSC began to charge more for their services – some seafood companies reported paying more than USD 20,000 (EUR 18,900) to move a container from Asia to the United States. But now rates are around USD 1,150 (EUR 1,090) per container, and more companies are aggressively shopping around for the best rate and often finding deals on the spot market. Lawrence Burns, a consultant who formerly handled negotiations for Hyundai Merchant Marine, told Reuters importer and exporter shipping managers now have the upper hand in negotiations.

Read the full article at SeafoodSource

Seafood Expo North America keynote to address 2023 economic outlook

February 28, 2023 — Megan Greene, a senior fellow at the Watson Institute for International and Public Affairs at Brown University, and Kroll Institute global chief economist, is returning to deliver the keynote launching the comprehensive conference program at Seafood Expo North America/Seafood Processing North America, and taking place from 12 to 14 March, 2023, at the Boston Convention and Exhibition Center in Boston, Massachusetts, U.S.A.

The three-day conference program includes a slate of more than 30 education sessions featuring seafood, retail, environmental, and governmental experts in panels and presentations covering a number of topics relevant to the seafood industry, according to event producer Diversified Communications. [Editor’s note: Diversified Communications also owns and operates SeafoodSource.]

Read the full article at SeafoodSource

US retail seafood sales facing continued headwinds in 2023

February 23, 2023 — Continued food inflation causing shoppers to trade down to cheaper items is expected to impact U.S. grocery seafood sales this year, and Walmart’s concerns about shoppers and Lidl’s corporate layoffs also signal trouble ahead for overall grocery sales.

Walmart reported higher Q4 revenue and an 8.3 percent increase in U.S. comparable store sales, but CEO Doug McMillon warned that shoppers are more cautious and the retailer lowered its profit outlook for the year. Walmart expects “stubborn inflation” in food, Walmart executives said on an analyst call, per Barron’s.

Read the full article at SeafoodSource

Lethargic Seafood Sales? Try Snacking.

February 21, 2023 — A steep decline in seafood activity has merchandisers scurrying for sales remedies. One potential solution? Position seafood as a snack instead of a main meal.

“Seafood had a tough 2022,” said Anne-Marie Roerink, president of 210 Analytics LLC, a San Antonio-based market research and marketing strategies firm. “Engagement was down and that means we need to get creative.”

Huge price drop for Dungeness crab is a tough deal for Washington state crabbers

February 21, 2o23 — When you hear about a “market correction,” here it is in a dramatic display: a plunge of two-thirds or more in the price of Washington Dungeness crab.

There are plenty of reasons why.

One is that you, the consumer, are willing to pay only so much for what one industry insider says “is probably looked at like a luxury item.” Well, time to party on, consumers.

“They’re really loving it. They’re super happy that they can get an awesome product,” says Michael Fodness, meat and seafood director for the six-store, locally owned Town & Country Markets.

Those stores are charging $5.99 to $7.98 per pound for Dungeness, but the higher price is for “premium 2-ups,” meaning each crab weighs at least 2 pounds, with a higher meat-to-shell ratio.

Read the full article at Anchorage Daily News

Virginia Tech study shows consumer behavior pandemic repercussions threaten US aquaculture businesses

February 21, 2023 — Researchers at Virginia Tech are researching consumer market data to aid the survival of aquaculture businesses in the wake of the economic impacts of the Covid-19 pandemic.

The study, based on surveys completed in 2022, is examining a wide array of consumer data to analyze the “abrupt changes” in the food supply chain, and how that impacted consumer purchasing of food. In turn, the researchers said they hope to provide information to guide aquaculture businesses in marketing efforts to respond to the changes.

Read the full article at SeafoodSource

Long John Silver’s, 7-Eleven, and other chains ramp up seafood promotions for Lent

February 14, 2023 — Convenience store chain 7-Eleven is bringing back its Alaska pollock fish sandwich it featured during the 2022 Lenten season.

Via a partnership with Genuine Alaska Pollock Producers, Seattle, Washington, U.S.A.-based Trident Seafooods is supplying the fish for the sandwiches, the company’s vice president of communications, Alexis Telfer, confirmed to SeafoodSource. The sandwich will feature garlic- and herb-flavored Alaska pollock fillet topped with American cheese and tartar sauce and served on a brioche bun.

Read the full article at SeafoodSource

USDA agrees to purchase East Coast seafood for food bank donations

February 14, 2023 — The U.S. Department of Agriculture will buy Atlantic haddock, pollock, and perch from domestic fisheries on the U.S. East Coast to supply food banks.

The purchase comes as part of a USD 1 billion (EUR 937 million) plan to supply emergency food providers through the U.S. Commodity Credit Corporation, according to a statement from U.S. Senator Edward Markey, U.S. Sen. Elizabeth Warren, U.S. Representative Seth Moulton, and U.S. Rep. Bill Keating, all Democrats representing the U.S. state of Massachusetts.

Read the full article at SeafoodSource