ANALYSIS: Countervailing Duties Reduction Would Have Significant Impact on Payments

As reported by SeafoodNews Managing Editor, Amanda Buckle, Jose Antonio Camposano, Executive President of Industry Association Camara Nacional de Acuacultura confirmed the yet unpublished report that Santa Priscila’s subsidy rate has been lowered.

To put this in perspective, here is a preliminary analysis of money that would be posted based upon data from 2023 imports. The red lines in the graph are estimated payments against last year’s total imports by company based upon the average price paid. The total paid would...

The Retail Rundown: Abundance of Springtime Eating Occasions

There is an abundance of springtime eating occasions and grocers are gearing up for a triathlon of sorts with Cinco De Mayo, Mother’s Day, and Memorial Day fast approaching.

The produce section and the meat case are expected to benefit from Cinco de Mayo as those celebrating load up on beef, pork, and chicken for a variety of dishes like tacos, fajitas, burritos, and carnitas. These dishes are often accompanied by fixings like guacamole and salsa, boosting sales of avocadoes, mangoes, and more...

ANALYSIS: Is the Frozen Tuna Market Poised for A Rebound?

As seasonal warm weather envelops the nation, a traditionally revitalized phase of food service and retail demand emerges. This seasonal shift entices consumers outdoors, whether they're firing up grills at home or embarking on vacation adventures. Many market participants are optimistic that this transition will breathe new life into the frozen tuna market, lifting it from its stagnant state.

Throughout 2023 and into the first half of 2024, the economy grappled with the impact of elevated interest rates and pervasive economic uncertainty, leading to...

ANALYSIS: Navigating Shifts in the 2024 Sockeye Season

The 2024 sockeye season presents notable changes compared to recent years. In 2022, there were record landings in Bristol Bay, resulting in a robust frozen supply leading up to the 2023 season.

At this time last year, talk of frozen 2022 product in the millions of pounds, coupled with another strong forecast, created uncertainty heading into the fresh season. Prices on frozen sockeye fillets, for example, saw a steep decline as many sellers reduced prices to stimulate sales and maintain product flow in an effort to...

ANALYSIS: Farmed Salmon at Retail Wanes

The market conditions in the farmed salmon complex post-Easter appears to be highly dependent on country of origin.

On the Chilean side, with Easter behind us, retail demand has dwindled. Retail buying opportunities or promotions were down significantly the week after Holy Week. The amount of buying opportunities recorded was the lowest number of promotions the market has seen in two years outside of the week of Thanksgiving in the United States. When retail demand wanes, the fresh spot market feels it, almost instantaneously. Fresh Chilean fillets moved lower both Tuesday and...

The Retail Rundown: Competitive Prices Drive Traffic; CPI Update

The coming weeks and months present favorable weather conditions for grilling and travel, considered supportive of protein sales from both a retail and foodservice standpoint. And with a few notable items displaying comparatively attractive prices, the retail sector is well positioned to capitalize on pent-up grilling demand.

Below, we’ll explore a few notable items featured near or below year-ago levels last week, when some households celebrated Easter.

First up is beef ribeye, which averaged $10.79 discounted, down $2.24, or 17.2% from a year ago. Beef...

The Retail Rundown: The April Outlook

The first inklings of planting season have made an appearance and with it comes the prospect of prolonged warmer weather. April typically launches a period of improved foodservice and retail demand as the shift in seasons encourages consumers to venture outdoors and fire up the grill. Moreover, spring break is underway, giving a boost to foodservice interest.

With spring in full swing, feature volume will begin to shift from roasts, popular with cooler weather cooking, to grilling cuts. Currently, the pork category overtakes seafood for a second consecutive week with the most feature volume...

ANALYSIS: Mid-Small Blue and Red Crab Meat Under Pressure

Like we discussed earlier this month, the crab meat market in the U.S. has been a tale of two different groupings of size grades: larger grades under upward pricing pressure and smaller grades seeing downward pricing pressure. Because the overall size of crabs has been smaller for the past several months out of the Asian producing countries, we have continued to see a smaller percentage of colossal, jumbo lump, and super lump available to the marketplace. When crabs run smaller...

ANALYSIS: 2024 Pacific Halibut Season Outlook

As the start of each fresh halibut season arrives every March, anticipation sweeps along the Pacific coast of the U.S., Alaska, and British Columbia, as fishing vessels embark in their pursuit of the highly coveted Pacific halibut. Discussions about potential dock prices, landings, and initial fish prices fill the air as boats make their way back to port. Yet, reminiscent of last year's quotas, demand fluctuation, and pricing trends, market participants are tempering their anticipation, exercising caution in their expectations.

The 2024 season commenced on...

ANALYSIS: Chinook Fishery Yields High Landings in Southeast Alaska/Yakutat for 2024

As the winter troll chinook or king fishery in Southeast Alaska/Yakutat (SEAK) nears its conclusion for the season, it's evident that 2024 has been robust, boasting some of the highest landings in a decade. According to the latest figures from the Alaska Department of Fish and Game (ADF&G), the total count stands at 38,735 chinook or king salmon. This represents a remarkable 133 percent increase over the same period in 2023, when landings totaled 14,887; and a...

The Retail Rundown: Seeing Green

Grocers and foodservice establishments alike are seeing green ahead of what is expected to be a record-setting St. Patrick’s Day for spending.

According to an annual survey conducted by Prosper Insights & Analytics with the National Retail Federation, consumers plan to spend an average of $44.40 per person on the holiday coming up on Sunday, March 17^th, amounting to a record $7.2 billion in collective spending—up from $6.9 billion in 2023. 

The top spending categories are food and beverages—sláinte! And with the holiday falling on a weekend this year...

ANALYSIS: January Shrimp Imports Decline Rapidly with AD/CVD in Background

In data released Thursday, and with the backdrop of caution given the U.S. International Trade Commission (ITC) maintaining the antidumping (AD) and countervailing duties (CVD) on imported shrimp with initial decisions soon, January shrimp imports fell 13.5 percent from last year. January 2024 figures came in at 131.041 million pounds, compared to 151.535 million pounds last year.

There were broad declines from many of the top trade partners. India (-18.1%), Ecuador (-5.7%), Indonesia (-19.6%), Vietnam (-5.7%), Thailand (-24.4%), and...

ANALYSIS: Record Wide Spreads Hit Lobster Tail Market

Supply concerns began to emerge in the market for American lobster products after a disappointing fall 2022 effort. Each season, 2022, and both in 2023 had supply gaps in landings where supply was less than expected. Prices have now been on the rise for 14-straight months, rapidly accelerating in the first two months of 2024. Sellers are allocating product for the most part in fear of not being able to meet needs through the spring (the next opportunity for meaningful replacement). Sellers hold remaining inventories with...

ANALYSIS: Surging Atlantic Halibut Imports With Sporadic Pricing to Start 2024

Over the past decade, the Atlantic halibut market, especially concerning imports into the United States, has undergone a significant and consistent upward trajectory. From 2008 onward, there has been an annual increase in imports, with only a marginal 3% exception noted in 2022. In 2008, imports stood at 2.87 million pounds, while by 2023, they had surged to an impressive 12.27 million pounds, marking a substantial increase of 326% and a 10.7% increase from the previous year. Some market participants speak...

The Retail Rundown: Plenty to Munch on in March

Baseball, basketball, briskets, and the list goes on! Retailers have their sights set on spring demand with March just around the corner. Next month brings several buying opportunities and a refresh for the retail food landscape following the February slump.

Just a little over two weeks out is St. Patrick’s Day on March 17^th. Bar and foodservice establishments are expected to benefit from patrons out and about for the holiday, which falls on a weekend this year.

Consumers in the U.S. also celebrate the holiday with corned beef, which is made...

ANALYSIS: Shrimp Exports Disrupted in Argentina Due to Nationwide Strike

The nationwide strikes in Argentina are impacting the largest wild capture shrimp fishery in the southern hemisphere and one of the most valuable industries in the country — red shrimp, or Pleoticus Muelleri. Reports from the area say the strike runs throughout the value chain. Plants are shut down, and importers in the U.S. and Europe lucky enough to get orders in prior to this can't get product out of the country as it sits in ports. As ports are blocked...

ANALYSIS: 2024 Alaska Pollock ‘A’ Season Wraps Ahead of Seafood Expo Global

As the "A" Season for Alaska Pollock wraps up, this year's harvest data from the Bering Sea and Aleutian Islands region reveals nuanced dynamics in the fisheries sector.

According to the National Marine Fisheries Service (NMFS) data, the Total Allowable Catch (TAC) for Bering Sea pollock in 2024 remained consistent with the previous year at 1,300,000 metric tons. Despite the static TAC, landings during the "A" season of 2024, currently available through the first week of April, totaled 533,633 metric tons, showing a modest decline from...

ANALYSIS: Canadian Snow Crab Start of the Gulf Season Begins 32 Percent Higher Than Last Year

From a market reporting perspective, the 2024 Canadian snow crab season is starting right on time with previous years for Gulf of St. Lawrence product. Mid-April is typically when the U.S. market starts to see snow crab come down into the market with enough volume for Urner Barry to begin establishing quotations. This has been the seasonal norm for the previous five years in the Gulf. Prior to that time, Urner Barry saw enough product to establish quotations closer to the...

ANALYSIS: Live Lobster - Spring Preview

As the Canadian spring season approaches, many eagerly anticipate its arrival. The scarcity of supplies experienced during the fall and winter has been notable and, for some, challenging. While the cause of this shortage may be subject to debate, it is noteworthy that interrupted fishing due to windy weather conditions has been observed in both Maine and Canada. According to Mintec Analytics, in December, average daily wind gusts in Canada surpassed historical expectations by 25%, while in Maine during January, they exceeded historical averages by...

ANALYSIS: 2024 Scallop Season Expectations

The 2024/2025 Atlantic sea scallop fishery season began on April 1, 2024. This fishery extends from the Mid-Atlantic region to the U.S.-Canadian border. The New England Fishery Management Council approved Framework Adjustment 38 in December, forecasting a catch of 27.4 million pounds of Atlantic sea scallops for the season. On March 22, 2024, NOAA issued the final rule in the Federal Register, effective from the season's start. Per NOAA Fisheries, for the initial 60 days of the fishing year, vessels with limited access can utilize their remaining 2023 scallop allocation from the...

ANALYSIS: Shrimp Imports Surprise With Gains in February

In data released Thursday, and maybe somewhat of a surprise given the recent cautiousness surrounding shrimp imports with CVD/AD hanging over the industry (preliminary countervailing duties since released), U.S. shrimp imports in February were 12.5 percent higher. Imports for the month totaled 131.198 million pounds, nearly on par with last month, but above 116.596 million pounds in 2023.

There were gains from four of the top five trade partners. India (+21.5%), Ecuador (+9.9%), Vietnam (+50.3%), and...

The Retail Rundown: Easter Features Breakdown 

A March Easter is approaching—an occurrence not seen since 2016. Circulars are flush with holiday and springtime themes as grocers take full advantage of the upcoming weekend. 

Pork feature volume rose through the ranks and earned the top spot of protein feature volume this week with 29% of ad space. Seafood eased to 25%, down from 32% last week. Lent ends tomorrow at sundown, meaning observers can soon indulge in meat on Fridays again. 

Beef has 20% of retail activity while chicken features comprise 11% of protein ad volume. Turkey features more...

ANALYSIS: Fresh Tilapia Facing Supply Challenges

The fresh tilapia market in the United States is currently facing significant challenges due to supply disruptions. Colombia, the leading supplier of fresh tilapia to the U.S. since 2022, has reportedly experienced mortality issues resulting in a sharp decline in production. With Colombia's typical production output compromised, the U.S. market is turning to other regions, notably Costa Rica, Honduras, and Brazil, to fill the void. Additionally, Brazil's effort to get new farms BAP certified rapidly for U.S. exports underscores the urgency and the potential for...

The Retail Rundown: 2024 Annual Power of Meat Study Recap

The 2024 Power of Meat Study was revealed at the Annual Meat Conference in Nashville, Tennessee this week. Anne-Marie Roerink, Principal at 210 Analytics, presented the findings and identified the trends currently shaping the retail meat sector.

This year’s report found that the number of Americans who describe themselves as meat eaters (80%) and the number of households that purchase meat (98%) were unchanged from 2023. Circana data indicates that overall household penetration across all incomes, ethnicities, household sizes, and ages, averages above 97%...

ANALYSIS: Snow Crab Insights for Mid-March 2024

The snow crab market pricing in the U.S. has remained unchanged for the past several weeks. As we head into the back end of March and the start of the Canadian snow crab season, all eyes are on Eastern Canada. Some market participants have reported that snow crab fishing will begin in Nova Scotia starting over the weekend. As is typical in Nova Scotia, with weather conditions permitting, market participants report this is a normal start time for this area.

From a historical...

ANALYSIS: 2024 Pollock A Season Landings and Price Reaction

The 2024 Alaskan Pollock A season opened January 20, 2024 in the Bering Sea and Aleutian Islands. The North Pacific Fishery Management Council set the Total Allowable Catch (TAC) for Bering Sea pollock in 2024 to remain at 1.3 million metric tons, consistent with the 2023 level.

While the quota remains unchanged, pollock stock is reportedly healthy, resulting in an increased biomass. This has allowed for a boost to the allowable biological catch (ABC) from 1.9 million metric tons reported in 2023 to...

The Retail Rundown: Hopping Towards the Holiday

Seafood maintains its lion’s share of total feature volume with 37% this week, up from 28.6% the week prior. At present, 42% of seafood features stem from the fresh/frozen fillet category as retailers look to capture sales from Lent observers.

Tilapia and salmon have the greatest percentages of feature volume within the fillet category. With prices comparable to or below year-ago levels, retailers were keen to give the two species a larger chunk of circular real estate.

Fresh salmon, the top seller within the finfish category last week, retailed at...

ANALYSIS: Checking In With Crab Meat As Ramadan Approaches

The crab meat market in the U.S. has been a tale of two different groupings of sizing grades: larger grades under upward pricing pressure and smaller grades seeing downward pricing pressure. Because the overall size of crabs has been smaller for the past several months out of the Asian producing countries, we have continued to see a smaller percentage of colossal, jumbo lump, and super lump available to the marketplace. When crabs run smaller, you normally see a higher percentage of special and claw...

ANALYSIS: Update to the 2023-2024 C&SA Mahi Season

Total mahi imports, spanning from October to December 2023, from all countries reached 9.5 million pounds, reflecting a notable increase of 15.8% compared to the same period for the 2022-2023 season. Specifically, within the C&SA region, shipments totaled 6.9 million pounds in Q4 2023, with the majority predominantly originating from Peru. An early successful harvest in Peru, mostly small sized mahi was noted, followed by a drop off in catch levels. Imports from Peru (Oct-Dec 2023) stand at a record 3.8 million pounds...

ANALYSIS: Ratio of Farmed to Wild U.S. Shrimp Imports from Mexico Remains Consistent

While the data set is relatively new, the ratio of farmed to wild U.S. shrimp imports from Mexico remained relatively consistent in 2023. In 2021, the first year tracked, farmed shrimp represented 78% of all imports into the United States, with wild at 22%. But it shifted in 2022, where the ratio was 56% to 44%, and followed in the most recent year at 55% farmed and 45% wild.

Consumption of farm-raised shrimp in Mexico has...