US Crab Prices Soar Amid Diminished Supply

The 2024 Canadian snow crab season began with prices in April up 19% compared to the already remarkable levels of 2023, according to Urner Barry by Expana. Despite the increase, these prices remained manageable for retail and food service sectors, holding steady throughout the summer and into September. However, as inventories dwindled, prices surged further, with Canadian snow crab now up over 40% compared to the same time period last year.

More than 90% of U.S. imports of Canadian snow crab occurred early in the season when prices were lower, which benefited retailers and...

NEFMC Approves Scaled-Back Scallop Harvest Plan for 2025-26 Season

The New England Fishery Management Council (NEFMC) finalized Framework Adjustment 39 during its December 3-5 meetings. This framework establishes harvest specifications and management measures for the 2025-26 scallop fishing season.

The framework, which still needs the final thumbs-up from NOAA Fisheries, will set total landings at about 19.75 million pounds and revenue at $348.25 million. This represents just over a 25% decrease in total landings compared to the current 2024-25 season.

However, as Urner Barry by Expana covered in its latest U.S. Quarterly Scallop Market Insight publication...

ANALYSIS: Tariff-Driven Spike to Freight Rates Yet to Materialize

The re-election of US President-elect Donald Trump, on November 5, sparked speculation about the outlook for global trade, given the stringent tariff regime that he has stated he will impose. Some initial reactions expected the effects on international shipping and freight rates to be significant, with a short-term price spike resulting from US importers boosting their inventories before the tariffs come into effect. The results so far, however, have been more tepid than anticipated.

During his campaign, Trump indicated his intention...

Russian Fisheries Profit Drops 26% in 2024 Amid Challenging Economic Conditions

The profits of the Russian fisheries industry in January-August 2024 decreased by 26% compared to the same period in 2023 and amounted to 60 billion rubles ($598 million), according to recent statements made by the President of the All-Russian Association of Fish Producers German Zverev at the general meeting of the association.

The industry's current situation remains complex, mainly due to the country's tough business environment.

German Zverev comments:

"The financial and economic situation of the fisheries industry in 2024 has become significantly more complicated..

Norway's November Seafood Exports Reach Highest Value to Date, Says Norwegian Seafood Council

According to information published recently by the Norwegian Seafood Council, seafood exports in Norway reached a total worth of NOK 17.3 billion in November, making it the most successful November seafood export value to date, increased by NOK 1 billion, or 6%, from last November.

At this rate, Norway is headed for a new export record, with already NOK 160.4 billion exported this year, which is 1.5% higher than this time last year.

Christian Chramer, CEO of the Norwegian Seafood Council, said that Norway has been seeing...

Startup Fishery Sakana Dream Debuts New Farmed Japanese Jack Mackerel Variety, “Yumeaji”

On December 1, 2024, Japanese startup fishery Sakana Dream debuted test marketing for its new farmed fish variety called “yumeaji,” a type of Japanese jack mackerel.

Japanese jack mackerel—a species of fish that is commonly found in and around the East China Sea and the Sea of Japan—is a popular fish among traders at Toyosu Market. However, despite its popularity, distribution remains severely limited due to unstable catches and difficulty farming.

Sakana Dream was established in July 2023 at the Tokyo University of Marine Science and...

ANALYSIS: Reduced Norwegian Cod Quotas Push Prices Higher in 2024

Expana's Norwegian cod price (frozen, gutted, headless, 1-2.5kg) has increased by 80.32% year over year (y-o-y) and by 15% quarter over quarter (q-o-q) during the last week of November. This has led to reaching the all-time high averaging monthly price of NOK 73.37 kg (Fig.1).  The increase may be associated with the Barents Sea cod quota reduction by 20%, which accounts for a total allowable catch of 212,124 MT for Norway in 2024.

In addition, total exports dropped by 14% y-o-y...

NOAA Makes $99 million Available for Pacific Coastal Salmon Recovery Fund

Yesterday the Department of Commerce and NOAA Fisheries announced the availability of up to $99 million in funding through the Pacific Coastal Salmon Recovery Fund (PCSRF) for state and tribal projects conserving and restoring salmon in Alaska and along the West Coast.

The funding, which will focus on Pacific salmon and steelhead, will support projects that advance population and habitat restoration and increase environmental and economic resilience in surrounding communities.

Of the total funding available, $34.4 million was provided through the Bipartisan Infrastructure Law (BIL)...

UK Reaches Agreement on North Sea Fishing Opportunities for 2025

The UK Government has announced the outcome of its fishing negotiations with the EU and Norway today (4 December), securing fishing opportunities to North Sea stocks including cod, haddock and herring for the UK fleet.

A trilateral deal with the EU and Norway has secured UK fisheries over 290,000 tonnes of North Sea stocks, worth up to £310 million based on historic landing prices. The deal agreed catch limits on six fish stocks including cod, haddock and herring in the North Sea and other waters around the UK...

ANALYSIS: Key Drivers of Norwegian and Chilean Salmon Price Fluctuations

The average price reported by Expana of Norwegian Atlantic salmon whole, FOB Oslo, Norway, 4-5 kg during November 2024, shows an increase of 2.7% in the last three months. However, the price dropped by 9.5% year over year, averaging NOK 74.49 kg. The increase in price in the last three months may be associated with the rise in demand in Europe due to end-of-the-year festivities...

Signs Point to December Dungeness Season for Parts of West Coast

It’s almost time to start crackin’! Recent testing shows crab in Oregon are ready to harvest and domoic acid levels are all well below the safety threshold for starting the season.

Oregon crabbers talked with Oregon Department of Fish and Wildlife fishery managers Thursday and said afterward that most everyone agreed to a Dec. 16 opening between the California border and Cape Falcon on the North Coast.

Crab from Long Beach, Washington, have not fully filled out with meat yet, according to recent tests. At 19.9%, the ,,,

Alaskan Seafood Processor PSF, Inc. Pays $750K Penalty for Clean Water Act Violations

On December 5, 2024, the US Environmental Protection Agency (EPA) announced that PSF, Inc. (formerly known as Peter Pan Seafoods, Inc.) paid a $750,000 penalty for permit violations to state and federal requirements under the Clean Water Act (CWA).

The violations occurred at the company’s seafood processing facilities in Valdez and King Cove, Alaska.

At the Valdez facility, PSF was found to be discharging seafood processing waste from beyond the one-acre “zone of deposit” allowed under the permit...

Japan’s Seafood Industry Pushes for Precautionary Tropical Tuna Management

On November 25, 22 companies and organizations, including Seafood Legacy, WWF Japan, Maruha Nichiro, Nissui, AEON, and Mitsubishi Corporation, submitted a letter of request to the Fisheries Agency and the Western and Central Pacific Fisheries Commission (WCPFC) to manage tropical tuna fisheries according to the precautionary principle, reported Minato Shimbun. 

The letter requested that during the WCPFC annual meeting, which begins on November 28, parties should aim for sustainable use and conservation of tuna resources according to the precautionary principle. It was pointed out that while catches...

Genetic Testing Reveals Mississippi Restaurants Misrepresenting Gulf Shrimp

A recent investigation found extensive mislabeling and misrepresentation of shrimp served at restaurants in the Mississippi Gulf Coast region.

SeaD Consulting, a firm focused on monitoring seafood mislabeling through genetic testing, said it found that many establishments in the area are misleading consumers by offering imported shrimp rather than locally caught fare.

Findings from SeaD Consulting indicated that restaurants in Biloxi, Gulf Shores, and surrounding areas featured marketing focused on “fresh local seafood,” but imported shrimp was frequently substituted for the local wild-caught shrimp, which remains a staple in the region...

U.S. House Passes FISHES Act Aimed at Expediting Fishery Disaster

The U.S. House of Representatives passed The FISHES Act via voice vote on December 4. The legislation looks to improve the federal regulatory process linked to the allocation of fishery disaster relief, per an announcement from Congressman Byron Donalds’ (R-FL) office.

H.R. 5103 – "The Bipartisan Fishery Improvement to Streamline untimely regulatory Hurdles post Emergency Situation Act (FISHES) Act," will expedite the distribution of federal disaster relief following official fishery disaster declaration-which the State of Florida has requested seven times since 2012.

The legislation has received the support...

Historically Low Hokkaido Fall Chum Landings Leads to High Prices for Ikura, Dressed Fish

According to a Minato Shimbun report, this year's Hokkaido fall chum fishing season ended on November 30. According to the Hokkaido Fisheries Association Daily Report, the cumulative landing volume up to that point was 43,624 tons, down 18% from the previous year. Although this is a preliminary figure, it is lower than the 45,000 tons in 2019, which was the lowest in recent years. It is even lower than the 44,019 tons in 1978, when the artificial hatching and release project was first started...

GSA and Wholechain Launch Prism, New Assurance & Traceability Platform, and Webinar Series

Seafood responsibility organization Global Seafood Alliance (GSA) recently partnered with traceability solutions company Wholechain to launch Prism, an assurance and traceability platform.

“We are excited to unveil our assurances and traceability platform, Prism, which is designed to revolutionize how our customers manage and verify their supply chains,” said Tim Grotheer, Director of IT.

According to Grotheer, the platform will combine robust traceability data systems with a user-friendly interface, ensuring seamless tracking, greater accountability, increased operational confidence, and more comprehensive insights.

Prism connects suppliers’ Global Dialogue on Seafood...