ANALYSIS: US Shrimp Consumption Edges Up in 2025; Costs, Inventories Shape Near‑Term Outlook

Our preliminary per‑capita consumption estimates for 2025 indicate a mild increase versus 2024, effectively a flat year in practical terms. Demand in our framework is driven by inflation‑adjusted prices (real prices), population growth and net supply, where net supply is modeled from imports and an inferred inventory “clearing” rate. Inventories are estimated using price elasticities with respect to lagged and transformed imports, applying an assumed clearing rate to approximate the product absorbed each period...

2026 Will Be Another Strong Year for Sitka Herring

The Alaska Department of Fish and Game (ADF&G) announced last week that the guideline harvest level (GHL) for the 2026 Sitka Sound sac roe herring fishery is 35,015 tons with a forecasted weight of 156 grams, averaged across all age classes.  

The forecast is based on an estimated biomass of 233,433 tons of mature herring, a slight (6%) decrease from the year-ago forecast of 247,081 tons. 

Two new management changes were made at the Board of Fisheries meeting in late January and early February 2025 that impacted the GHL...

Pescafácil Partners with OMARSA as Lamar Group Exits After Venezuela Turmoil

Spanish processor Pescafácil has entered a new growth phase after Ecuadorian shrimp giant OMARSA acquired shares in the company and the Llop family joined Pescafácil's board, the company announced.

The ownership change follows the departure of Venezuela's Lamar Group, which put its stake up for sale last year after political developments in Venezuela forced it to abandon shrimp farming operations. Pescafácil said Lamar had been a partner for seven years.

OMARSA, Ecuador's second-largest exporter of vannamei shrimp, has supplied Pescafácil for nearly 25 years and now takes...

A Tale of Two Whales, How Gray and Humpbacks Face Ecosystem Change In the Pacific Arctic

Two new studies, one from Oregon State University and one from the University of Southern Denmark, show the stark differences in how gray whales and humpback whales find food in the northern Bering Sea and the Chukchi Sea of the Arctic Ocean. 

The first study “Changing the Menu: Humpback Whale (Megaptera novaeangliae) Diet Switching in Senyavin Strait, Chukotka” was published in September by Marine Mammal Science with funding from the Russian Science Foundation. 

For University of Southern Denmark whale researcher...

Op-Ed by Ambassador Jamieson Greer: The Year of the Tariff

WASHINGTON – United States Trade Representative Jamieson Greer published an op-ed in The Financial Times explaining how President Trump’s trade program is accelerating America’s re-industrialization, incentivizing domestic production with improved market access for US exports.

The full text of the op-ed is below:

The year 2025 will be remembered as the year of the tariff, regardless of one’s economic ideology. International trade is neither good nor bad — it just is. The real question is whether trade patterns serve the national interest...

Expana Publication Schedule for the 2025 Holiday Period

Expana will be observing several holidays which will impact the publication of some Expana Benchmark Prices. Daily assessments falling on these dates will not be published, while weekly assessments falling on these dates will be assessed on the last working day before these dates.

Expana's Market Insights and Market Updates will be suspended from Monday, December 22, 2024, to Friday, January 2, 2025, inclusive. Normal publishing schedules will resume on Monday, January 5, 2025.

See the publication schedule for the 2025 Holiday Period...

Mitsubishi‑owned Cermaq Boosts Capital in Norway, Canada Subsidiaries to Fund Grieg Seafood Purchase

Mitsubishi-owned salmon farmer Cermaq Group will inject fresh equity into three of its holding companies, Cermaq Holding AS, Cermaq Norway Holding AS and CQ Canada Holding Ltd, to fund the purchase of three salmon-farming operations from Grieg Seafood in Northern Norway and Canada’s east and west coasts.

As a result, each of these subsidiaries will now exceed one-tenth of Mitsubishi’s own capital and are newly classified as “specified subsidiaries” under Japanese reporting standards.

Cermaq announced its acquisition of Grieg Seafood’s operations in Finnmark...

Mace Reintroduces Bill To Protect American Fishermen Against IUU and Foreign Interference

Last Friday, South Carolina Representative Nancy Mace reintroduced the Protect American Fisheries Act of 2025, which would amend Section 312(a) of the Magnuson-Stevens Fishery Conservation and Management Act (MSA), the section addressing disaster declarations. 

Mace originally introduced House Resolution 6150 on November 19, 2025 with eight co-sponsors, 5 Republicans and 3 Democrats, from Maine, North Carolina, Florida, Alabama, Louisiana, and Texas.  

Last week, the reintroduction was accompanied by statements from 15 industry groups from New England to Texas, and one from Hawaii in support...

Captain Fresh‑Owned CenSea Acquires Ocean Edge, Expands Lobster and Crab Offerings

Captain Fresh-owned US seafood importer CenSea has acquired Ocean Edge, a move aimed at strengthening its crab and lobster portfolio.

CenSea described Ocean Edge as a specialist in lobster and crab, saying the deal will deepen its premium lobster offerings and establish formal crab capabilities alongside its core shrimp business.

Founded in 2006, Ocean Edge has grown into a premium crustacean supplier, sourcing from Canada, Honduras, and South Africa. The brand’s range also includes imitation crab marketed under the Ocean Edge label...

83,800 Bags of Frozen Shrimp Recalled Due to Possible Contamination

The US Food and Drug Administration (FDA) has announced a recall of approximately 83,800 bags of frozen raw shrimp imported from Indonesia due to potential contamination concerns.

The affected products are sold under the Market 32 and Waterfront Bistro brands at grocery stores across the nation.

At Price Chopper stores, items are sold under the Market 32 brand. These are packed in 1 lb. bags, bear the UPC code 0 41735 01358 3, and have best-by dates ranging from April 22, 2027...

Mowi Retains Feed Division While Partnering with Skretting for Cost Savings

Norwegian salmon company Mowi ASA has finalized a partnership with Skretting, the aquaculture feed arm of Nutreco, aiming to enhance feed performance while securing significant cost savings. The agreement follows a strategic review of Mowi’s Feed Division initiated in March 2025.

Under the deal, Mowi retains its two advanced feed production facilities in Norway and Scotland but will adopt Skretting’s proprietary feed formulations. This collaboration is expected to deliver more than NOK 650 million (€55 million) in annual net cost savings through improved feed recipes, procurement...

ANALYSIS: Norwegian Atlantic Cod Prices Hit 20-Year High Amid Reduced Barents Sea Quota and Supply Constraints

The price of Norwegian Atlantic cod (Gadus morhua) reached a 20-year peak in November 2025, averaging NOK 103.0 per kilogram (USD 10.07/kg; EUR 8.60/kg) (Figure 1). The lowest monthly price in 2025 was recorded in July, influenced by market uncertainty surrounding the final US tariff imposed on cod caught in Norway but processed in Asia. In December 2025, the price of Norwegian cod was 31.4% higher on a year-on-year (y-o-y) basis and had risen 118.2% compared...

Marine Stewardship Council Joins Science Center for Marine Fisheries

The Science Center for Marine Fisheries (SCEMFIS) is pleased to announce that the Marine Stewardship Council (MSC) has joined the Center as a member of its Industry Advisory Board (IAB). The addition of MSC will further the Center’s mission to identify and fund the latest developments in marine science, and to support healthy, sustainable fisheries.

The MSC is the world’s leading environmental certification for wild-capture fisheries. Meeting the organization’s Fisheries Standard is a rigorous process that ensures that any seafood product carrying the MSC-certified blue fish label meets...

Kingfish CEO Buiks LeaveFor s Personal Reasons, Erenst Agrees to Another Year

Yesterday, the Netherlands-based producer of yellowtail kingfish announced that Karl Buiks has resigned from his position as Chief Executive Officer of the company, effective December 16, 2025, for personal reasons. 

The Kingfish Company N.V. (Euronext: KING) board said they respect his decision and wished him well. 

Outgoing CEO Vincent Erenst, whose last day was to be December 31, 2025, has agreed to postpone his retirement and will continue to lead the company for an additional year...

Today's Top Story: US Lobster Market Ends Year with Modest Demand, Depressed Prices

In today’s top story, late holiday buying has given the live lobster market a modest lift, but December demand has stayed below seasonal norms amid ample supply and buyer caution. Post‑New Year demand is expected to soften further, with a later‑than‑usual Chinese New Year likely delaying export pull and weather‑dependent Canadian landings shaping winter supply...

Today's Top Story: Captain Fresh‑Owned CenSea Acquires Ocean Edge, Expands Lobster and Crab Offerings

In today’s top story, Captain Fresh-owned CenSea has expanded its crustacean portfolio through the acquisition of Ocean Edge, a premium lobster and crab specialist sourcing from Canada, Honduras, and South Africa. The deal bolsters CenSea’s lobster and crab offerings alongside its core shrimp business...

Fung-wong Storm Results in Livestock Losses and Crop Destruction across Philippines and Taiwan 

In the Philippines, Fung-wong caused severe damage to crops including rice, corn, cassava, abaca, sugar cane, coffee, cocoa, bananas, coconuts, spices, legumes, fruits, and vegetables, according to the Expana Global Weather Report - November 2025. Banana crops in Aurora province were mostly destroyed.  

Typhoon Fung-wong formed in the Philippine Sea on November 5 and struck Luzon, Philippines, on November 9 as a Category 3 storm with winds up to 115 mph. The storm then hit Taiwan’s Pingtung County on November 12 as...

ANALYSIS: US Lobster Market Ends Year with Modest Demand and Depressed Prices

As Christmas draws near, a wave of last-minute holiday interest has provided the live lobster market with a modest lift. For much of December, demand lagged behind seasonal expectations, marked by plentiful supply and a lack of urgency from buyers. Although this week has seen a slight improvement tied to holiday-driven orders, overall market activity remains subdued compared to typical year-end trends...

Russia Eyes Haddock and Pollock as Alternatives Amid Cod Decline

Russia continues to face declining cod catches due to low stock levels and changing climatic conditions, adversely affecting production.

To compensate, local analysts suggest increasing haddock and pollock catches as possible replacements for cod.

German Zverev, head of the All-Russian Association of Fish Producers (VARPE), told Kommersant that cod has an unfortunate history—200–250 years ago, it was the main commercial target for Russian fishermen. However, high demand combined with natural factors has led to overexploitation of cod populations in both the Atlantic and Pacific Oceans...

Hokkaido Fall Chum Stocks Collapsed to Levels of 50 Years Ago

This year's fall chum salmon migration to Hokkaido is experiencing a historic low, comparable to catches observed in the 1970s, when hatching and release technology was in its infancy. Koichi Urabe, senior researcher at the Hokkaido Research Institute's Salmon and Inland Fisheries Research Station, reflected on this year at a meeting of the Hokkaido Set-Net Fisheries Association on December 10th, and expressed concern about the rapid decline in salmon resources due to global warming, according to a report in the Minato Shimbun...

ANALYSIS: Tariffs and MMPA Reshape the US Crab Meat Import Landscape

Elevated tariffs are reshaping the US crab meat import market, but the most notable development in the near term could be Venezuela’s approaching regulatory deadline. With less than two weeks left before Marine Mammal Protection Act restrictions take effect, and no stay granted, there is growing uncertainty over the lack of Venezuelan product in the US market. The removal of Venezuelan product would mark the loss of a long-standing supplier of fresh crab meat that has supported processors and foodservice operator...

Calif. Opens Portions of Dungeness Season With Gear Reductions; Wash. and Ore Open Soon Too

The California Department of Fish and Wildlife announced Friday that portions of the state’s commercial Dungeness crab fishery will open in early January following the completion of a risk assessment by Director Charlton H. Bonham. 

Also late Friday, Washington and Oregon Departments of Fish and Wildlife announced non-tribal crab seasons north of Cape Falcon, Ore., with Dec. 31 and Jan. 4, 2026, opening dates.  

According to the CDFW Director's Declaration, Fishing Zones 3, 4 and 5 — stretching from south...

ANALYSIS: Update on Atlantic Salmon Biomass and Harvest Trends Through October 2025

The total biomass of farmed Atlantic salmon at sea is trending slightly lower compared with October 2024, declining by 1.2% (Figure 1), according to the Norwegian Directorate of Fisheries. However, live biomass increased by 2.0% over the past three months and by 0.1% between September and October. Overall biomass was substantially higher from January to July 2025 than in the same period in 2024, but a strong harvest campaign in summer reversed that trend. The accumulated harvest until October year-to-date (YTD) increased by 14.1%, with...

ANALYSIS: US Shrimp Retail Sales Slide Amid Rising Prices and Fewer Promotions

Recent data indicate a clear contraction in US shrimp retail demand, driven by rising prices and a sharp decline in promotional activity. Despite a brief uptick in late November, sales volumes and distribution points have dipped to their lowest seasonal levels in several years, suggesting that higher costs are beginning to weigh on consumer purchasing during this critical quarter.

Retail contracting

As expected, retail prices continue to rise while retail feature activity contracts considerably (based on proprietary UB data). Circana data also indicate contraction across points of...

West Coast Salmon Files Bankruptcy After Nearly NOK 100M Loss on Nevada RAS Project

West Coast Salmon, a Norwegian company with plans to build a massive land-based salmon operation in Nevada, filed for bankruptcy.

The company reportedly lost close to NOK 100 million ($9.8 million) before the project could gain significant momentum, according to Norwegian publication Dagens Næringsliv. The planned facility never progressed beyond the design stage; the effort stalled after substantial losses.

The company initially planned 50,000 tons of HOG production at its Reno, Nevada, facility, but later reduced...

Typhoon Kalmaegi Disrupts Agricultural and Aquaculture Production in Philippines, Vietnam 

Typhoon Kalmaegi struck the Philippines on November 3 and Vietnam on November 6, causing widespread agricultural damage across both countries, according to the Expana Global Weather Report - November 2025. 

In the Philippines, agricultural losses reached $2.7 million. The typhoon impacted 81,500 acres of maize fields, potentially causing significant production losses. Over 130,000 acres of sugar cane were damaged across the Visayas region. Negros Occidental, the country's top sugar-producing area, recorded the highest losses. Four sugar mills suffered damage, delaying processing operations...

Today's Top Story: US Shrimp Consumption Edges Up in 2025; Costs, Inventories Shape Near‑Term Outlook

In today’s top story, a look at the shrimp landscape as we wind down 2025. US shrimp consumption was essentially flat in 2025 as importer-driven late‑year buying pushed replacement costs for peeled shrimp to year‑end peaks; per‑capita demand edged up only modestly, inventories tightened after August, and rising operating costs have compressed margins, keeping the market constrained and setting a cautious tone into early 2026...

Today's Top Story: Trump Shook Up Global Trade This Year; Some Uncertainty May Persist in 2026

In today’s top story, President Trump’s 2025 trade policies pushed US tariffs to record highs and forced global partners into new deals, but a US-China agreement remains unresolved. Despite fears, the tariffs haven’t sparked economic turmoil or runaway inflation, thanks to supply chain adjustments and strong AI-driven growth. Heading into 2026, uncertainty persists, with a Supreme Court ruling on tariff legality, tense EU-China trade relations, and looming reviews of key US agreements with Canada and Mexico...

Today's Top Story: US Shrimp Retail Sales Slide Amid Rising Prices and Fewer Promotions

In today’s top story, US shrimp retail sales are contracting as higher prices and sharply reduced promotions weigh on Q4 demand. Average retail pricing over the past 11 weeks is at its highest since 2014, while feature activity has dropped to multi‑year lows, driving a 4.4% decline in sales volumes, according to Circana data...

Historic Return of Natural Coho in Northern California Signals Potential Regional Fisheries Shift

For the first time in more than three decades, naturally reproduced coho salmon have been documented in the upper basin of the Russian River — a development that could have important implications for salmon-dependent fisheries and regional ecosystem health.  

Juvenile coho were spotted this past summer in a remote tributary of the Russian River in Mendocino County by a water resources specialist from the Pinoleville Pomo Nation. Their presence marks the first confirmed evidence of successful natural spawning in upper watershed reaches since 1991...