Economic Impact Archives - Page 35 of 291

FAO: Global seafood trade has slowed

September 6, 2022 — Thanks to decades of increased fishery and aquaculture yields and growing global demand, seafood is one of the most-traded food categories in the world today. However, the volume and value of overseas sales achieved by the industry has slipped in the past few years, according to the latest analysis from the Food and Agriculture Organization of the United Nations (FAO).

The 2022 edition of the U.N. body’s biennial “The State of World Fisheries and Aquaculture” (SOFIA) report confirms 59.8 million metric tons (MT) of seafood products worth USD 151 billion (EUR 148.4 million) were exported in 2020, the most-recent year for which data is available. This value was down from the record high USD 165 billion (EUR 162.2 billion) that the FAO recorded for 2018, while the live-weight equivalent volume was around 200,000 metric tons (MT) lower.

Read the full article at SeafoodSource

UN: Global seafood production, consumption will bounce back

September 6, 2022 — Global seafood production totals are down as a result of the COVID-19 pandemic, but are expected to rebound, according to the Food and Agriculture Organization of the United Nations (FAO) 2022 edition of the “The State of World Fisheries and Aquaculture” (SOFIA) report.

While the world’s total fisheries and aquaculture yield climbed to an all-time record of 214 million metric tons (MT) in 2020, actual global seafood production fell slightly to 178 million MT, with algae providing the remaining 36 million MT, according to the report. The limited growth in 2020 was mainly caused by a 4.4 percent decline in capture fisheries due to reduced catches of pelagic species, particularly anchoveta, a reduction in China’s catches, and the impacts of the COVID-19 pandemic.

Read the full article at SeafoodSource

More than 130 container ships awaiting entrance to US ports

August 30, 2022 — More than 130 vessels are waiting to unload at North American ports, an ongoing symptom of supply-chain bottlenecks that have stymied the global economy.

U.S. imports totaled 2.53 million 20-foot equivalent units (TEU) in July, up 3 percent year-over-year and up 15 percent from July 2019, according to new data from Descartes, per FreightWaves. It was the country’s busiest-ever July for imports, and the fifth-highest monthly volume ever recorded by Descartes.

Read the full article at SeafoodSource

Daniels Trawlers completes acquisition of Blue Harvest scallop vessels

August 25, 2022 — Ocean Fleet Services has announced that Daniels Trawlers has completed the acquisition of five double-dredge scallop vessels from New Bedford, Massachusetts, U.S.A.-based Blue Harvest.

The acquisition completes a reorganization of the company’s scallop fleet that Daniels Trawlers began in 2022, according to the company.

Read the full story at SeafoodSource

US shoppers buying less fresh seafood due to inflation

August 24, 2022 — Seafood inflation in grocery stores across the United States has been sky-high in recent months, and new data shows shoppers are buying less as a result.

Fifty-six percent of nearly 1,500 shoppers surveyed in early August 2022 said they noticed increases on meat and seafood prices throughout the past month, according to FMI-The Food Institute’s fifth edition of the U.S. Grocery Shopper Trends 2022 series, focused on the country’s annual back-to-school drive.

Read the full story at SeafoodSource

Traceability efforts overridden by inflationary pressures in Canada, US

August 19, 2022 — An increased effort by Canada and the United States to combat illegal, unreported, and unregulated (IUU) fishing isn’t being matched by a tightening of import controls that would prevent illegally sourced seafood from entering domestic markets, according to a letter sent from 26 seafood industry stakeholders to the Canadian Food Inspection Agency.

The letter, which was signed by Buy-Low Foods, Sobey’s, and Ocean Brands, as well as seafood sustainability non-governmental organizations including Oceana, Ocean Wise, Sea Choice, and the David Suzuki Foundation, urged Canada’s federal government to commit to a timeline on mandating boat-to-plate traceability for seafood sold in the country.

Read the full article at SeafoodSource

The days of panic-buying are over for scallops on the US market, industry experts say

August 19, 2022 — US scallop demand, like other high-end seafood items, is falling back down to earth after record post-pandemic pricing.

“This scallop season has been unlike any other, and I’ve been doing this for 30 years,” Peter Safner, the leader buyer of scallops with Massachusetts-based Boston Sword & Tuna, told IntraFish.

“Unforeseen worldwide inflation, economic uncertainty, fuel costs and the war in Ukraine have all contributed to slower demand in the market.”

Read the full article at Instafish

Cooke reaches agreement to acquire Tassal

August 16, 2022 — Canada-based Cooke Inc. announced on 15 August that the company has reached an agreement with Tassal Group Limited to purchase the Australia-based aquaculture company.

In a release, Cooke announced the two companies reached an agreement that would have Cooke purchase all outstanding shares of Tassal for AUD 5.23 (USD 3.65, EUR 3.60) per share in cash, by way of a scheme arrangement.

Read the full article at SeaFoodSource

Retail seafood sales suffering from inflation, increased restaurant traffic

August 16, 2022 — Fresh and frozen seafood sales continued their decline in U.S. supermarkets in July due to inflation and increased restaurant visits, but shelf-stable seafood sales rose as cost-conscious consumers look for ways to save money.

Frozen seafood sales dropped 7.4 percent during the month to USD 651 million (EUR 640 million). Fresh seafood fell even more, falling 9.9 percent to USD 638 million (EUR 627 million), according to new data from IRI and 210 Analytics.

Read the full article at SeafoodSource

US seafood inflation outpaces record grocery inflation

August 12, 2022 — Overall grocery inflation reached a record in July, but inflation for seafood products outpaced total grocery inflation, according to new data.

The inflation hitting seafood products is outpacing total grocery inflation, and is up 16.8 percent in July versus a year ago, data and tech firm Numerator told SeafoodSource. Frozen seafood grocery prices also soared 14.4 percent versus a year ago – but shrimp and prawns are below the average rate of inflation, rising 8.5 percent.

Read the full article at SeafoodSource