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W7: Weekly Seafood Update

Updated Feb 20, 2023
Tridge's global market analysts and country representatives take a deep dive into what happened during W7 in the global seafood landscape. In summary, Russians began to grow crabs in 2023 for the first time and their production amounted to 99MT. In Shanghai market, China, in W6, prices of 6- 7 kg frozen salmon stood at USD 25.89/kg on Feb 13, up by USD 6.55/kg from Feb 7 rates. Ecuadorian shrimp prices were stable in W7 going for USD 3.8/lb. In Spain, there is a significant increase in demand for giant squid from South America hence leading to decrease in stocks. Lastly, Vietnamese tuna exports value to the US was USD 82M, down 27% in the fourth quarter of 2022.


Russia: Fish Farmers in 2022 Increased the Production of Fish and Seafood by 7.5% Up to 383.5K MT (Feb 14)

At the end of 2022, the volume of commercial aquaculture production in Russia increased by 7.5% compared to 2021 and amounted to 383.5K MT. For the first time in 2023, they began to grow crabs, and their production for the year amounted to 99MT.


US: Maine Lobster Fishery No Longer Has MSC Certification as of W5 (Feb 13)

The Maine Boston lobster fishery no longer has MSC sustainable certification as of W5. The Maine Sustainable Certified Lobster Association (MCSLA) decided to withdraw from the Marine Stewardship Council (MSC) certification program because lobster trap ropes are considered to be a threat to wild right whales.


Canada: Fisheries Department to Close 15 Fish Farms off British Columbia’s Coast to Protect Wild Salmon (Feb 17)

Minister Joyce Murray says the Discovery Islands area is a key migration route for wild salmon where narrow passages bring migrating juvenile salmon into close contact with the farms. The plight of British Columbia's endangered wild salmon came first Feb 17 in the decision against renewing licenses for 15 open-net Atlantic salmon farms in the Discovery Islands area off Vancouver Island, says the federal fisheries minister. Joyce Murray said wild salmon are in serious, long-term decline, with some runs near collapse, and the government is making their protection a priority.

Canada: Ottawa Rejects Science, Betrays First Nations With Aquaculture Decision (Feb 18)

The Federal Government has ordered the shutdown of salmon farms in BC’s Discovery Islands, walking back on its commitments to respect the rights of First Nations who want aquaculture operations in their traditional territories. The decision to close the farms in the core territories of the Laich-will-tach and Klahoose First Nations, commonly referred to as the Discovery Islands, was announced on Feb 17 in the wake of fear-mongering campaigns by anti-fish farm activists to vilify BC’s salmon farmers. It was made despite the government’s scientists producing 10 extensive peer-reviewed reports showing the marine operations have virtually no impact on wild stocks migrating through the area.

Russia: Rosselkhoznadzor Revealed an Illegal Scheme for the Supply of Fish Products Through Belarus (Feb 13)

Rosselkhoznadzor discovered a scheme for supplying fish products of unknown origin to the Russian Federation through Belarus. This is stated in the message of the department. “Rosselkhoznadzor revealed an illegal supply scheme for frozen fish products of salmon species of unknown origin. The fish was imported to Russia in December 2022 under the guise of products from the Faroe Islands through the territory of Belarus,” the report says.

Russia: Salmon Production Increased by 47.5% (Feb 14)

At the end of 2022, the volume of commercial aquaculture production in Russia increased by 7.5% compared to 2021 and amounted to 383.5K MT. Salmon came out on top in terms of production. In 2022, the volume of trout and salmon farming increased by 12.6% and reached 154K MT, an increase in salmon by 47.5%, up to 22K MT, and trout by 5.8%, up to 70.7K MT.

US: Chicken and Farmed Salmon Have Remarkably Similar Environmental Footprints (Feb 14)

To tease out opportunities for reducing the substantial environmental pressures of global food production, UC Santa Barbara marine ecologist Ben Halpern and an international team of colleagues took a deep look at how we raise these two highly popular animals for consumption, focusing in particular on dynamics between land and sea. The researchers found that 95% of the cumulative environmental footprint of Salmon and chicken (greenhouse gas emissions, nutrient pollution, freshwater use, and spatial disturbance) is concentrated on less than 5% of the planet, with 85.5% spatial overlap between the two products, due mostly to shared feed ingredients. According to the study, the total cumulative pressures from chicken production are highest in the United States, China, and Brazil. For fish, the highest cumulative pressures are found off the coasts of Chile, Mexico, and China, with some pressure on land due to salmon aquaculture.

China: Prices of Frozen Salmon in the Shanghai Market on February 6 and 7, 2023 (Feb 13)

The quotation of frozen salmon in the Shanghai wholesale market stood at USD 20.52/kg (RMB 140/kg) for 6-7kg on February 6, 2023, and for 9+kg stood at USD 19.93/kg (RMB 136/kg). On February 7, 2023, the price quoted for 6-7 kg stood at USD 19.49/kg (RMB 133/kg).

China: Prices of Frozen Salmon in the Shanghai Market on W6 (Feb 17)

The quotation of frozen salmon in the Shanghai wholesale market stood at USD 26.91/kg (RMB 185/kg) for 6-8kg on February 9, 2023, which increased by USD 6.55/kg (RMB 45/kg) compared with February 6, 2023. On February 13, 2023, the price quoted for 6-7 kg stood at USD 25.89/kg (RMB 178/kg), which increased by USD 6.55/kg (RMB 45/kg) from February 7, 2023.

UK: Scottish Salmon Was UK’s Biggest Food Export in 2022 (Feb 13)

Scottish salmon was the UK’s biggest food export in 2022, new HMRC figures have revealed. Sales of the nutritious fish grown in cold waters of the Highlands and islands reached USD 617.92M in the calendar year, with France leading the global demand. European destinations dominated as the sector continued to bounce back from Brexit. Scottish salmon was exported to 54 countries, with North America and Asia reporting strong demand. Overseas Scottish salmon sales outperformed all the UK’s other main food exports including bakery goods, chocolate, cheese, cereals, and lamb.

Norway: Norwegian Salmon Prices Decline Slightly in W6 of 2023 (Feb 16)

According to the Nasdaq salmon index, prices are down USD 0.049 (NOK 0.50) in W6. A weighted average index of weekly sales prices and volumes of fresh Atlantic salmon, gutted with head, presented by a group of Norwegian salmon exporters and salmon producers, showed an average price per kilogram of Norwegian salmon of USD 8.90 (NOK 91.04). Fish Pool reported that the total sales of Norwegian salmon exporters for the second week of February 2023 remained stable compared to the last three weeks. The export price, according to Fish Pool, was USD 9.09 (NOK 93.07) higher than Nasdaq's reported three to six-pound salmon prices of USD 8.80 (NOK 90.081).


Ecuador: The Shrimp Sector Is Interested in the Agreement With South Korea (Feb 13)

The shrimp sector is especially interested in the trade agreement that is being negotiated with South Korea, a country to which they currently pay a 20% tariff. This sector had a 43% growth in its export billing, between January and November 2022, compared to the same months in 2021. However, for the union, the growth in dollars achieved throughout the year was more conservative (31%), and was mainly due to volume, since prices were down. For 2023, the industry remains cautious about the behavior of its main market, China, which is showing a slight recovery, explains José Antonio Camposano, president of the National Chamber of Aquaculture. The business opportunity to become more competitive and conquer new markets permanently.

Ecuador: Stable Pricing of Ecuadorian Shrimp During W7 (Feb 18)

The farm gate price of Ecuadorian shrimps has been stable since W52 2022. In W7, the price average stood at USD 3.8/lb, and the price stability corresponds to the solid demand from China since December 2022.


Ecuador: Ecuador and Peru Fighting a Losing Battle With China on Giant Squid Fishing in the Southeast Pacific (Feb 16)

Giant squid, squid, or Dosidicus gigas, measures up to 3 meters in length and can reach 50kg in weight. It is one of the main species of the southeastern Pacific Ocean and at the same time, it is one of the species with the greatest commercial pressure in the world. Thousands of tons are extracted every month, a large part, from the international waters located off the seas of Ecuador, Peru, and Chile. The main player behind that voracious appetite is China: it has a declared fleet of 671 ships. The squid catch has increased over the last 20 years. In the last five years alone, between 800K MT and 1.16M MT have been caught. This accelerated pressure on the species has alerted experts. And precisely in W7, an event in Ecuador is discussing measures to guarantee the sustainability of the species: the annual meeting of the Commission of the South Pacific Regional Fisheries Management Organization (SPRFMO).

China: Chinese Vessels Fishing For Squid in the South Pacific Refuse to Be Screened (Feb 13)

The issue was raised at a committee meeting that is taking place in Manta, Ecuador, where CALAMASUR participates as an observer. This comes after two Chinese vessels fishing in the area refused to be inspected, the conservation group said. Alfonso Miranda Eizaguirre, President of CALAMASUR, stated that all vessels fishing in the Commission Area, without exception, must enforce management measures, in particular through inspections at sea. He stressed that flag states should avoid any doubt about their involvement in illegal, unreported, and unregulated fishing activities.

Spain: High Demand for Giant Squid in Spain Is Leading to a Decrease in Stocks and Driving up Prices (Feb 13)

Giant squid, also known as Dosidicus gigas, is a species of deep-sea squid that is commonly found in the waters off the coasts of Peru and Chile. In recent weeks, there has been a significant increase in the demand for giant squid in Spain, one of the largest importers of this species from South America. This increase in demand has led to a decrease in stocks at the origin, as well as in Spain. The decrease in available stocks has resulted in a corresponding increase in prices, as the limited supply is driving up the cost for this raw material.

Spain: Imports of Peruvian Giant Squid to Spain in W6 Showed a Positive Trend (Feb 17)

Giant Squid (Dosidicus gigas) is an important seafood product in Spain, heavily imported from Peru. According to Spanish importers and suppliers, W6 was a good week in terms of the supply of Giant Squid from Peru as they managed to import and sell a total of 70 FCLs, with a special focus on the Chinese market. The different derivatives of Giant Squid traded by importers included tentacles, filets, and bits and pieces. Overall, the successful week for Spanish importers and suppliers is a good indicator of the strength and demand for Giant Squid in the international market, particularly in China.


US: Vietnamese Tuna Exports Value to the US Were Down 27% In the Fourth Quarter of 2022 (Feb 17)

Although the US economy grew more than expected in the last quarter of 2022, consumer demand remained subdued. It also shows that the economic downturn is still a big risk in 2023. And this will affect the export of tuna from Vietnam to the US. In particular, after continuously rising in the first 9 months of 2022, Vietnam's tuna exports to the US have been declining steadily in the last quarter of the year. The value of exports in this quarter decreased by 27%, nearly USD 82M. However, this number is still 21% higher than in the same period in 2019, before the pandemic. Cumulatively, the value of tuna exports to the US reached almost USD 487M in 2022, up 44% from 2021. Thus, the US is Vietnam's largest tuna import market accounting for almost 44%.

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