W51: Weekly Seafood Update

Published Dec 30, 2022
Tridge's global market analysts and country representatives take a deep dive into what happened during W51 in the global seafood landscape. In summary, the crab season in the United Kingdom and Norway is currently in its mid-season. The lobster season in Seychelles will only last two months in 2023. Octopus was released in South Korea to increase production. In addition, the price of Chilean Salmon increased in North America in W51, and the demand for salmon increased in the UK market due to the Holiday season. South Korea will develop a new variety of seaweed in 2023. Also, Vietnamese shrimp exports to Australia recorded a 62% YoY growth, and Australia reports record volumes of shrimp catch this season. The low squid supply in Japan is causing a rise in prices. Finally, the catch limit of Tuna and high production costs in Seychelles worry producers and the OPAGAC.


United Kingdom and Norway: W51 Price Comparison of UK Brown Crab and Norwegian Brown Crab (Dec 22)

The UK and Norway are two of the main sourcing markets for brown crab, along with Ireland. Currently, brown crab is in its mid-season, and the prices from both markets are slightly different, mainly because of the availability of wild stocks and fishing campaigns. Prices of vacuum-packed, cooked, and frozen brown crab from the UK (especially Northern Ireland and Scotland) are approximately USD 8.73/kg and USD 8.94/kg for sizes 400/600 and 600/800, respectively, delivered in Europe. Norwegian suppliers are doing more bulk packing instead of vacuum packing as the price is usually higher by USD 0.21–0.32/kg, with prices delivered in Europe of USD 8.52/kg for sizes 400/600, USD 8.83/kg for sizes 600/800, and USD 9.05/kg for sizes 800+.


Seychelles: Seychelles’ Lobster Season Will Only Open for 2 Months in 2023 (Dec 22)

Seychelles' lobster fishing season will open for only two months in 2023, as a recent survey shows a reduction in the catch rate, the amount being caught, and the number of juveniles. In a recent press conference of the Seychelles Fishing Authority (SFA), it was stated that the lobster season will open on January 15 to March 14 in 2023, maintaining a two-month season for two consecutive years. Lobster harvesting season in Seychelles traditionally opens for three months every two years. The authority is taking a precautionary approach by having a two-month season so that stock can be kept at a manageable level as there are concerns about the number of juvenile lobsters caught.


South Korea: Muan County Released Mother Octopus in Tando Bay Area in South Korea (Dec 19)

Muan-gun, in the South Jeolla Province, recently announced that it had released 11.5K mother octopuses to Tanto Bay to increase the region's production. The octopus released are expected to spawn next spring and contribute to the increase in fishermen's income. Muan-gun was selected for the octopus spawning habitat creation project in 2020 and will invest a total of USD 3.17M until 2025 to create an octopus spawning and breeding ground and release the mother octopus.


Chile: Price Increase of Chilean Fresh Salmon in the North American Market During W51 (Dec 19)

Prices for Chilean fresh salmon filets in the North American market continue to increase in W51 due to the holiday demand at the end of the year. Thus, according to information shared by a Chilean salmon producer, prices for shipments in W51 increased by USD 0.15/lb compared to W50. Prices adjusted at USD 5.90-6.10/lb for 2/3 lbs and USD 6.00-6.20/lb for the 3/4lbs, all FOB MIA prices.

United Kingdom: Salmon Increases Its Share of Fish Sales in the UK Supermarkets Ahead of Christmas in W51 (Dec 20)

Salmon increases its share of fish sales in the UK supermarkets ahead of peak Christmas week. Sales of salmon in the UK are running at USD 1.45B. In the year ending in October, salmon sales made up 29.6% of the total fish sales in the UK, and showed an annual increase of 28.9% YoY, despite lower volumes and higher prices for all food at the checkout.

Russia: Primorsky Interregional Veterinary Laboratory in Russia Found Violations in a Batch of Frozen Chum Salmon Weighing 19.9 Tons (Dec 20)

The Federal State Budgetary Institution "Primorsky Interregional Veterinary Laboratory" subordinated to Rosselkhoznadzor researched samples taken from batches of frozen chum salmon with a total weight of 19.9 tons from a manufacturer from Primorye. In samples from fish batches, violations of the technical regulations of the Customs Union "On the safety of fish and fish products" and "On the safety of food products" were revealed.


South Korea: New varieties of seaweed Will be Tested and Developed in South Korea in 2023 (Dec 19)

Jeonbuk-do recently announced that it will promote a new breed of seaweed aquaculture test and the development of superior varieties in 2023. On September 8, Jeonbuk Provincial Fisheries Technology Research Institute was selected as a new research and training fishery project by the Ministry of Maritime Affairs and Fisheries, and it will research new varieties of seaweed on the West Coast and select superior varieties.


Vietnam: Vietnam’s Shrimp Exports to Australia Recorded a 62% Growth YoY (Dec 25)

Since the beginning of 2022, Vietnam's shrimp exports to Australia have continuously grown. As of October 15, shrimp exports to Australia reached nearly USD 214M, up by 62% YoY from the same period in 2021, a record increase in Vietnam's largest export markets.

Australia: High Volume of Australian Shrimp Reported in Australia this Season (Dec 21)

The shrimp fishing limits that the vessels in Australia have are small compared to the volumes the industry is handling. Australia is one month into the fishing season, and record levels of shrimp capture are reported. Producers are looking for where to house the amount of shrimp supply available. Due to the high supply, the season will be extended until the first days of March.


Argentina: The Argentinian Squid Industry Is Worried About Some Patagonia Ports Willing to Service Chinese Fleet (Dec 19)

Argentinian squid producers and organizations and groupings linked to the squid industry, CEPA, CAIPA, CAPECA, CAPA, UDIPA, Cafrexport, and CAPIC are worried about the news published in Buenos Aires media indicating some Patagonian ports were considering and could be prepared to service the Chinese jigger fleet operating in mile 201 of the Argentine EEZ. The entry of the Chinese fleet would create strong competition for the Argentinian industry.

Japan: Poor Catch of Squid and Soaring Prices in Japan Since June 2022 (Dec 21)

The poor catch of squid in Japan has continued since June 2022. Prices continue to remain high, with the average price at the wholesale market on December 19, 2022, at USD 11.5/kg, which is about 30% higher than the same period in 2021. The change in squid migration routes seems to be the main cause of this poor catch. In recent years, however, it has been migrating along the coast of Russia, making it difficult to catch near Japan. This situation will not change soon, and the amount of squid imported into Japan will likely continue to increase.


Seychelles: OPAGAC Is Worried About the About the Yellowfin Tuna Catch Limits in Seychelles and the High Operating Costs (Dec 20)

The Organization of Associated Producers of Large Tuna Freezers (OPAGAC) is worried about the yellowfin tuna catch limits in Seychelles and the high operating costs. The catch limit, the high operating costs, and the competition at lower prices will cause a socio-economic impact in the region as it will affect the profitability of the industry.

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