The Boston Seafood Exhibition ends, with USA and Norway as big winners and Ecuador market may fall into new difficulties, according to the report

Salmon

India

Frozen Cod

Ecuador

Published Mar 14, 2024

Tridge summary

The US catering and hotel industry is grappling with inflation, with the Consumer Price Index (CPI) above 3%. The seafood industry is facing challenges such as tight supply, quota reductions, and potential tariffs, with the Barents Sea and Norwegian cod quotas being reduced and potential tariffs on shrimp products from Ecuador, India, Indonesia, and Vietnam. Despite these challenges, the Alaska pollock industry is thriving and China has become Canada's largest lobster export market. The industry is urged to build resilience and adaptability due to tariff uncertainties.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

1. Inflation levels in North America are still high, affecting demand in the catering and hotel industry At the Boston exhibition, many seafood entrepreneurs told UCN that the inflation problem in the United States will still be severe in 2024, and total consumer demand is still declining, especially in the catering and hotel industry. The U.S. inflation rate reflected by the Consumer Price Index (CPI) has remained above 3%. The CPI in January was 3.1%. Although it was lower than the 3.4% in December, it was still higher than the expectations of many economic analysts. A Chilean salmon entrepreneur said that in the months before Easter, the price trend of salmon deviated from previous years, and the price increase was lower than industry expectations. In recent weeks, salmon prices have fallen compared with the beginning of the year, which is consistent with the April Ramadan period. The low demand during this period has a certain correlation. Spanish frozen octopus wholesale ...

Source: Foodmate