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Sep 24 - ANALYSIS: Argentine Red Shrimp National Waters Season Dwindles


Jul 29 - ANALYSIS: Shrimp Farmgate Prices Fluctuate in Mekong Delta with Factories at One-Fifth Capacity


Jul 23 - ANALYSIS: Farmed Salmon Market Off Trend


Jul 19 - ANALYSIS: Crab Meat Continues its Climb


Jul 16 - ANALYSIS: Chinese Catfish Breaking Records Week After Week


Jul 12 - ANALYSIS: The Climb Continues for King Crab, Snow Crab Prices


Jul 6 - ANALYSIS: Pangasius Imports Outpace Tilapia


Jul 2 - Market Trends to Watch Ahead of Independence Day


Jun 28 - ANALYSIS: 2021 Pollock B Season Start Sees Improvement Over 2020


Jun 28 - ANALYSIS: Coldwater Shrimp Prices Supported Despite Market Uncertainty


Jun 11 - ANALYSIS: Crab Meat Market Still Climbing; Imports Down 8.5 Percent Through April


Jun 10 - ANALYSIS: Indian Shrimp Share Values on the Up Despite Supply Concerns


Jun 10 - ANALYSIS: Ecuador Shrimp Producers Appear Committed to Value Adding


Jun 10 - ANALYSIS: Twice Frozen Haddock Demands Premium Over Single Frozen


Jun 9 - ANALYSIS: April Shrimp Imports Surge Led By Ecuador Growth


Jun 4 - ANALYSIS: Farmed Salmon Index Sees Drastic Drop Post Memorial Day Weekend


May 28 - ANALYSIS: Snow Crab Market Sees Pace of Price Slow; Demand Remains Active


May 28 - ANALYSIS: Two Months After Season Open, Scallop Prices Finally Soften


May 28 - ANALYSIS: Mother Nature Adds Another Layer of Uncertainty to the Indian Shrimp Industry


May 24 - ANALYSIS: Spread Between King and Snow Crab Highest Ever


May 17 - ANALYSIS: Markets Moving, Soaring Higher in Some Cases


May 14 - ANALYSIS: The Rise of Pangasius, Again


May 7 - ANALYSIS: Lobster Prices Higher Than Normal Ahead of Mother's Day


May 7 - ANALYSIS: Tilapia Imports Drop 47%


May 5 - ANALYSIS: March Shrimp Imports Surge Against Low 2020


May 3 - ANALYSIS: Growing Market Share for Tilapia and Pangasius


Apr 30 - ANALYSIS: European Summer Seafood Trade and the Absence of Chinese Tourists


Apr 29 - ANALYSIS: Ramadan Brings New Supply Constraints to Crab Meat Market


Apr 26 - ANALYSIS: Gulf of Mexico Shrimp Landings 32 Percent Higher in Q1


Apr 26 - ANALYSIS: Snow Crab Update; Pricing in Record Territory


Apr 23 - ANALYSIS: U10 Scallop Prices Almost $20 Higher than Last Year


Apr 21 - ANALYSIS: Strong Demand, Constrained Supply for Frozen Tuna


Apr 20 - ANALYSIS: Blue Swimming Crab Meat Prices Soar; Up 34 Percent from Beginning of the Year


Apr 19 - ANALYSIS: Commodity Prices Surging Higher; Is This the Next Supercycle?


Apr 19 - ANALYSIS: Strength in Shrimp Market Accelerating, Demand Robust and Supply Constrained


Apr 16 - ANALYSIS: Supply Speculation Continues to Influence the Argentine Red Shrimp Market


Apr 16 - ANALYSIS: Tilapia Pricing at Record Highs


Apr 15 - ANALYSIS: Frozen Lobster Products Ascend into Record-High Territory


Apr 9 - ANALYSIS: Pangasius YTD Imports Highest Since 2017


Apr 1 - ANALYSIS: Alaskan Pollock Blocks - Record High Prices, Continued Strain on Supply


Mar 30 - ANALYSIS: Supply Situation for Blue Swimming Crab Meat Market Remains Strained


Mar 22 - ANALYSIS: King Crab Pricing at All-time Highs


Mar 16 - ANALYSIS: Fresh Imported Seafood: Supply Constraints Amid Foodservice Recovery


Mar 12 - ANALYSIS: Pangasius YTD Imports Highest Since 2017


Mar 12 - ANALYSIS: Cooked and Peeled Coldwater Shrimp: Tough Nut To Crack


Mar 12 - ANALYSIS: Salmon Market Marches Onward and Upward


Mar 8 - ANALYSIS: January Shrimp Imports Start 2021 Strong


Mar 8 - ANALYSIS: U.S. Snow Crab Buyers May Have Options To Feed Hungry Market


Mar 5 - ANALYSIS: Octopus Prices Firm Amid Supply Issues


Feb 23 - ANALYSIS: Lobster Prices Firm as Industry Faces Supply Shortage


Feb 22 - ANALYSIS: Pangasius Imports Gain 10 Million Pounds in 2020


Feb 22 - ANALYSIS: Crab Meat Prices Continue to Rise Amid Low Inventories


Feb 12 - ANALYSIS: Aquaculture Review: Tilapia Strengthening Amid Catfish and Pangasius Stagnation


Feb 11 - ANALYSIS: Bangladesh’s Black Tiger Shrimp Farmers Continue to Face Market Shortcomings


Feb 8 - ANALYSIS: December Shrimp Imports Move Higher Again to Another Annual Record


Feb 5 - ANALYSIS: Spanish Octopus Prices on the Rise Despite Foodservice Fallout


Feb 2 - ANALYSIS: Cooler Water Temperatures Lead to Slow Start for Mahi Season


Feb 2 - ANALYSIS: Tilapia Imports Highest in 3 Years, Prices Highest in 6 Years


Jan 25 - ANALYSIS: Lobster Exports to China Continue Upward Trend; Total Exports Trail 2019 Levels


Jan 25 - ANALYSIS: Pangasius Imports Skyrocket 122 Percent


Jan 21 - ANALYSIS: King Crab Market Firm as Demand Outweighs Supply


Jan 18 - ANALYSIS: As The World Turns for Farmed Salmon…


Jan 15 - ANALYSIS: China Bay Scallop Imports Continue Downwards Trend


Jan 11 - ANALYSIS: Scallop Imports Lead over LY during Pandemic


Jan 8 - ANALYSIS: November Shrimp Imports Ease Slightly From Last Year


Jan 4 - ANALYSIS: Haddock Market Strengthening amid Tariff Exemption Expiration


Dec 18 - ANALYSIS: Farmed Salmon Market Continues to See Upward Pricing Pressure


Dec 15 - ANALYSIS: Mussel Prices Weaken, Imports Fall


Dec 8 - ANALYSIS: Tilapia Imports Highest Since 2016


Dec 8 - UB Consulting: Multi-year Low Retail Ad Prices for Atlantic Salmon


Dec 7 - ANALYSIS: Live Lobster Market Unsettled as Canadian Fishing Season Begins


Dec 7 - ANALYSIS: October Shrimp Imports Second Highest Ever (Again)


Dec 7 - ANALYSIS: COVID-19 Leads to Atypical Start to December for Norwegian Whole Salmon


Dec 3 - ANALYSIS: Scallop Market Firms Amid Tightening Restrictions


Nov 25 - ANALYSIS: Pass the Salmon for Thanksgiving 2020


Nov 24 - ANALYSIS: Availability of Wild-Caught U.S. Shrimp Critically Low


Nov 23 - ANALYSIS: Blue Swimming Crab Meat Market Remains Firm


Nov 20 - ANALYSIS: Opposing Pressure within the Tilapia Market


Nov 16 - ANALYSIS: Number of Salmon Promotions at Retail on Pace with 2019; Fresh Market Ends the Week Mixed


Nov 10 - ANALYSIS: September Pangasius and Catfish Imports Surge Over 2019


Nov 9 - ANALYSIS: Russia Increases its Market Share for Snow Crab; YTD Imports Up 96.4 Percent


Nov 6 - ANALYSIS: Tilapia Imports Reign Over 2019 Across All Categories


Nov 5 - ANALYSIS: Lobster Imports Sharply Lower in Sept.; Dragged Down by Decline in Shipments from Canada


Nov 5 - ANALYSIS: September Shrimp Imports Second Highest on Record


Nov 2 - ANALYSIS: Farmed Salmon Retail Promotions Up; Average Price at Retail Down


Oct 26 - ANALYSIS: Early Look at Stone Crab as Shortened Season Begins


Oct 26 - ANALYSIS: Frozen Salmon Fillets at All-time Lows


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ANALYSIS: Argentine Red Shrimp National Waters Season Dwindles

While the shrimp season in national Argentine waters typically closes towards the back end of October, recent reports suggest that the ongoing season is nearing an imminent closure. 

Feedback from market participants suggests that an estimated 20% of the more than two hundred vessels that catch shrimp were currently active in the fishing zone, while the remainder has begun to direct their efforts towards other species, mainly due to low shrimp catches.  

According to reports from the National Institute for Fisheries Research and Development (INIDEP), yields have dropped significantly...

Full Story »

ANALYSIS: Shrimp Farmgate Prices Fluctuate in Mekong Delta with Factories at One-Fifth Capacity

The severe consequences of a prolonged lockdown are weighing on Vietnam’s manufacturing and export orientated industries.   

With 114,260 official infections as of Tuesday, Vietnam's economy is faltering.   

New orders to curb the spread of the Delta variant have led to sharp reductions in factory output. Vietnam's Purchasing Managers' Index (PMI) - a measure of manufacturing performance (above 50 representing an expansion, below 50 representing a contraction) - dropped sharply to 44.1 in June from 53.1 over the previous month, ending a six-month period of growth...

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ANALYSIS: Crab Meat Continues its Climb

The current pasteurized crab meat market for both blue and red swimming crabs remains under upward pricing pressure and the market saw adjustments higher throughout this past week. These increases in the quotations are at all-time high prices, and this market has seen continual steep inclines since the beginning of 2021. The market has raced higher, especially on blue swimming crab meat. Presently the market is in one of the higher, if not the highest, demand period of the year. During the summer season...

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ANALYSIS: The Climb Continues for King Crab, Snow Crab Prices

There continues to be no relief in sight for rising King Crab pricing as all sizing remains at all-time highs. Even with imports 45.8% higher through May 2021 as compared to the same time last year, the market remains tight, and demand is active and continues to fall short of buyers’ full-needs.

May 2021 is the first-month imports have dipped below the 3-year average in 5 months; year-to-date imports are still higher, but this month is trending below...

Full Story »

Market Trends to Watch Ahead of Independence Day

Urner Barry is the leading provider of protein market news and information in the food industry. Through daily canvasses of the trade and an unrivaled historical database, our analysts are uniquely positioned to report on the underlying conditions and significant disruptors to the market. In this Market Briefing, Urner Barry reporters outline the latest action in the commodity protein markets, highlighting seasonal factors, disruptors, and current supply and demand fundamentals.

Access the latest UB Market Briefing HERE.  

Full Story »

ANALYSIS: Coldwater Shrimp Prices Supported Despite Market Uncertainty

Following an aggressive rollout of vaccines, suppliers of Pandalus Borealis have noticed a gradual uptick in demand.   

With eased lockdowns and summer terraces across the European continent opening, market participants have seen offers firm, particularly for smaller sized shrimp going to industrial hand peelers.  

While a sense of optimism is noted on market calls, processor margins remain squeezed against the backdrop of inflationary operating costs.   

While spot trades for cooked and peeled product going into the UK are also on the up...

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ANALYSIS: Indian Shrimp Share Values on the Up Despite Supply Concerns

While Indian shrimp production is contending with a mixture of challenges including sporadic lockdowns, institutional investors continue to see growth opportunities.    

PRODUCTION PROSPECTS 

According to recent estimates, around 60% of India’s economy is subject to mobility curbs, with key economic hubs such as Gujarat, Tamil Nadu and Rajasthan seeing rising COVID-19 cases. 

Despite ongoing hurdles, some remain optimistic about the country’s shrimp sector. A recently published advisory report suggests that Indian shrimp sales are set to benefit from a revival in international demand and...

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ANALYSIS: Twice Frozen Haddock Demands Premium Over Single Frozen

The market for twice frozen haddock fillets began strengthening soon after the tariff exemption on the imported species came to an end on December 31, 2020. Since then, wholesale prices have increased an average of $0.83 per pound, reaching a new record high of about $4.38 per pound for skinless, boneless, IQF, frozen fillets.

Contributing factors to the rising wholesale price includes elevated freight costs and widespread logistical issues causing shipping delays coupled with heightened demand from the swift...

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ANALYSIS: Farmed Salmon Index Sees Drastic Drop Post Memorial Day Weekend

The farmed salmon market in the U.S. took a somewhat drastic turn post-Memorial Day Weekend.

Prior to this week, the entire farmed salmon index was at all-time highs heading into Memorial Day weekend. Canadian, Chilean, European whole fish and fillets raced higher with significant jumps along the way for the four weeks throughout the month of May.  

Over the past five years—outside of 2020, which we all know was a different year—we've typically seen the...

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ANALYSIS: Two Months After Season Open, Scallop Prices Finally Soften

The 2021 Atlantic Scallop season, which opened on April 1, 2021, has made its mark in the record books with scallop prices soaring to new heights, sharply reversing typical seasonal activity the industry has come to expect over the years.

Beginning in 2020, the size mix of scallops has trended smaller, allowing premiums to develop on the largest U10 sized scallops. With 2021 landings proving this downwards shift in scallop size was continuing, wholesale prices on larger scallops remained firm and...

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ANALYSIS: Spread Between King and Snow Crab Highest Ever 

Both the Russian red king crab and Canadian snow crab markets are achieving all-time highs. 20-24 red king crab are 64 percent higher than the 3-year average, and 5-8s out of the Gulf are 69 percent higher than the 3-year average.  

However, the high price levels are not the only area seeing all-time highs. The spread between king crab and snow crab is also at all-time highs. The spread in 2021 is currently 22 percent higher than the same time last year in 2020...

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ANALYSIS: The Rise of Pangasius, Again

U.S. wholesale prices for striped pangasius frozen fillets imported from Vietnam continues to trend higher, reversing the downhill trend seen within the market since 2018. The initial market rise was largely due to a regulation shift in September of 2017 from the FDA to the USDA resulting in rising raw material and administrative costs, and lengthy delays from new and in-depth inspection processes resulting in record high wholesale and replacement prices. This time around the market is facing new challenges.

Supply in the U.S. is...

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ANALYSIS: Tilapia Imports Drop 47%

Imports of frozen tilapia fillets fell from the previous month, as seasonally expected due to interruptions from the Chinese New Year holiday, by 47 percent. March 2021 recorded 10.6 million pounds of volume with an approximate value of 19.1 million dollars. Despite recording higher volume than the same month a year ago when the pandemic was just shutting down the U.S., prior to that, 2021 was the lowest March on record since 2008.

On a year-to-date basis, 2021 has imported 54.7 million pounds...

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ANALYSIS: Growing Market Share for Tilapia and Pangasius

Year-to-date combined imports of tilapia and pangasius frozen fillets are seeing growing volumes year-over-year since 2019. While tilapia imports for this time period contracted since 2020, pangasius volume saw a resurgence after record lows last year.

In looking at monthly volume, the last four months have seen a dramatic uptick in import volume compared to the rest of 2020. As foodservice and restaurants continue to see growing demand within the United States, logistical issues including higher freight, lengthier...

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ANALYSIS: Ramadan Brings New Supply Constraints to Crab Meat Market

The crab meat market continues to soar, but further supply constraints are on the horizon.

Currently the country of Indonesia is celebrating Ramadan, which began on April 12 and concludes May 12. On May 11, the Muslim community will celebrate the festival of Eid al-Fitr, which is also called the “Festival of Breaking the Fast.” This festival, which is typically celebrated for 1-3 days, ends the month-long dawn-to-sunset fasting during the Ramadan observance. 

When it comes to crab meat production...

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ANALYSIS: Snow Crab Update; Pricing in Record Territory

And we are off. 

Thursday, April 22, marks the first time in 2021 that Gulf of Saint Lawrence 5-8s were reinstated into the quotations. Within the last 10 years — outside of 2015 and 2019 when the previous season supply of 5-8s ran into the new season — 2021 is the earliest quotations have been reinstated for the Gulf. 

With the ice clear and the opening a bit earlier, Gulf snow crab has made its way into the U.S. market. In addition to...

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ANALYSIS: Farmed Salmon Market Off Trend

When looking at the seasonal trends, the farmed salmon market is out of character for this time of the year.  

In the farmed salmon market we often write about the summer doldrums and the seasonal summer slowdown each year after the Memorial Day holiday. However, 2021 has proven to be a year that is hard to predict.  

As of this writing, the farmed salmon index is 31 percent higher than the 5-year average and 61.9 percent higher than the same time last year...

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ANALYSIS: Chinese Catfish Breaking Records Week After Week

Chinese Catfish continues to break records week after week, boasting an average wholesale price that is trending $0.89 per pound higher than the previous three-year average. Multiple factors are putting pressure on the market at once, allowing premiums to swiftly escalate.        

Freight and logistical issues remain at the forefront of conversations with market participants. Problems at the departure port in Guangdong, China, issues in securing container or vessel transport, and skyrocketing freight costs have left some industry players without any..

Full Story »

ANALYSIS: Pangasius Imports Outpace Tilapia

In another turn of events originating from the complications set in place into the market by COVID-19, pangasius imports are currently outpacing that of tilapia. Historically, tilapia frozen fillet volume exceeds that of pangasius by just under 100 million pounds on a yearly basis, however, in looking at how volumes are tracking thus far on a year-to-date basis for 2021, pangasius frozen fillets are outpacing tilapia by over 20 million pounds from January through May.

Even with tilapia frozen fillets majorly coming from China...

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ANALYSIS: 2021 Pollock B Season Start Sees Improvement Over 2020

The 2021 Alaskan Pollock B season opened June 10, 2021 in the Bering Sea and Aleutian Islands. Vessels are eager to see improvements in fishing compared to the previous 2021 A season, as well as the 2020 B season.

Currently, the 2021 total allowable catch for Bering Sea pollock is set at 1.375 million metric tons, 50,000 metric tons less than it was in 2020.

As per the most updated data from NOAA on June 24, 2021, the first two...

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ANALYSIS: Crab Meat Market Still Climbing; Imports Down 8.5 Percent Through April

April imports remain lower for pasteurized crab meat. In total year-to-date crab meat is down 8.5 percent. Indonesia, the largest producing country with a 48 percent market share, is down 17.8 percent year-to-date. The country’s imports are also 9.3 percent lower than the 3-year average.  

In addition to the lower imports, reports out of Indonesia are that the size of the blue swimming crabs are smaller. Due to this scenario, the market will...

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ANALYSIS: Ecuador Shrimp Producers Appear Committed to Value Adding

The growth in the category in recent years is not going unnoticed. Shipments of peeled shrimp from Ecuador to the U.S. were up 12 percent in 2018, 16 percent in 2019, and 51 percent in 2020. In this short time, the volume has nearly doubled—going from 52 to 101 million pounds.

More recently, in just the first quarter of 2021, shipments of peeled shrimp from Ecuador to the U.S. surged 88 percent. While India is still the dominant supplier— shipping 55 percent of all...

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ANALYSIS: April Shrimp Imports Surge Led By Ecuador Growth

April’s shrimp import totals were released today and continued the trend of large year-over-year gains. April 2021 imports were 134.257 million pounds versus a pandemic ravaged 113.822 million pounds last year. This represented an 18 percent increase, widening the year-to-date gap to 11.8 percent higher.

The problems in India (-16.4%) persist, which has affected imports from that country tremendously. While India remained our number one trade partner, the gap to second and third shrunk significantly. Imports accounted for... 

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ANALYSIS: Snow Crab Market Sees Pace of Price Slow; Demand Remains Active 

For the first time in four weeks, the Newfoundland and Gulf snow crab market did not adjust higher. All sizes held full steady across both locations. However, higher offers are still noted heading into the long weekend in the U.S. for Memorial Day.  

Overall supplies out of Canada remain tight when coupled with a still active demand for crab in the U.S. marketplace. Market participants report that both foodservice and retail have had active buyers throughout the season...

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ANALYSIS: Mother Nature Adds Another Layer of Uncertainty to the Indian Shrimp Industry

Storm Yaas —a severe cyclonic storm of the 2021 North Indian Ocean cyclone season—has devasted parts of West Bengal and Odisha, inundating hundreds of low-lying villages in the process. Official and unofficial reports estimate anywhere from 1,000 to 5,000 hectares of shrimp farms are flooded.    

With shrimp exports from Andhra Pradesh already jeopardized, the latest flooding of farms along the Bay of Bengal has put a major question mark over India's supply capacity over the coming months...

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ANALYSIS: Markets Moving, Soaring Higher in Some Cases

With markets closing this week, on the seafood side, we saw some significantly higher adjustments and also some still considerably higher offers and sales, leaving most markets full steady to firm heading into the weekend.  

The farmed salmon market is now joining the club for tight supplies and an active to robust demand. Looking back, the index for most of April adjusted lower with both coasts of Canada seeing ample supply situations while the Chilean and the European markets saw increasingly tighter supply scenarios...

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ANALYSIS: Lobster Prices Higher Than Normal Ahead of Mother's Day

The current landscape for the live lobster market looks a lot different than it did a year ago. This time last year, the Canadian spring season was getting underway amid a depressed market. Closed overseas markets, lockdowns, and safety restrictions gave pause to market participants. The uncertainty surrounding the level of demand from the foodservice sector curtailed the amount of product that was landed and processed in the spring. The 2020 Canadian spring shore price by mid-May was in...

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ANALYSIS: March Shrimp Imports Surge Against Low 2020

March shrimp import totals were released today, and as expected blew past last year’s figures given the initial shutdowns that occurred in March 2020. At a little more than 138 million pounds, this was a 21 percent increase from 114.110 million pounds in the same month a year ago. Year-to-date figures are now nearly 10 percent above the first quarter of 2020.

India (-1.3%) continued to lag, but was the only major trade partner that showed any meaningful decline. Despite...

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ANALYSIS: European Summer Seafood Trade and the Absence of Chinese Tourists

With the tourism industry still at a standstill in Europe, countries across the continent continue to feel the pinch left in the absence of Chinese vacationers. 

From the terraces in Amsterdam to restaurants spread across the Mediterranean coastline, Chinese travellers have long played an important role in seafood consumption over the European summer. While in-country travel will support consumption across European tourist hotspots, it's unlikely to fill the void left by a decline in international travel.

By most accounts, the burgeoning Chinese middle class is the most...

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ANALYSIS: Gulf of Mexico Shrimp Landings 32 Percent Higher in Q1

The National Marine Fisheries Service reported March 2021 landings (all species, headless) of 2.656 million lbs. compared to 1.967 million lbs. in March 2020. This 35 percent increase is the fifth-straight month in which there was a year-over-year increase in landings.

The three-month total of 10.152 million lbs. is 32 percent above the Jan-Mar 2020 total of 7.693 million lbs. While this is great news for a fishery that saw record-low landings in...

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