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Aug 7 - ANALYSIS: June Snow Crab Imports Significantly Higher Than Cyclical Behavior; Up 47% From June 2019


Jul 30 - ANALYSIS: Cod Market Unsettled


Jul 17 - ANALYSIS: Tilapia Tariff Exemption Coming to End


Jul 13 - ANALYSIS: Farmed Salmon Taking a Hit as COVID-19 Cases Increase Around the Country


Jul 13 - ANALYSIS: Frozen Tuna Imports Decline 31% in May


Jul 10 - ANALYSIS: European Imports of Frozen Shrimp Dip in April as Quarantine Issues Linger


Jul 9 - ANALYSIS: Pangasius - Below Average Imports, Optimistic Outlook


Jul 8 - ANALYSIS: Snow Crab Entering U.S. Market Right Along With 3-Year Average


Jul 2 - ANALYSIS: May Shrimp Imports Decline 29.4 Percent


Jun 26 - ANALYSIS: Spanish Octopus Holds Premium Amid Lackluster Sales


Jun 25 - ANALYSIS: Pricing For Snow Crab Above Year-to-Date Levels


Jun 23 - ANALYSIS: Imports of Shrimp Products from Saudi Arabia Spike


Jun 15 - ANALYSIS: Fresh Seafood Imports Continue Decline in April


Jun 12 - ANALYSIS: Tilapia Imports Rebound 98% in April


Jun 11 - ANALYSIS: Canadian Snow Crab Prices Rise with Imports Trailing 3-Year Average


Jun 5 - ANALYSIS: April Shrimp Imports Increase 6.2 Percent


Jun 5 - ANALYSIS: Canadian Lobster Season Starts Strong as COVID-19 Continues to Limit Demand


Jun 5 - ANALYSIS: Upwards Pressure on the Scallop Market


Jun 1 - ANALYSIS: Buying Opportunities Increase for Snow Crab at Retail


May 21 - ANALYSIS: Opportunity for Chinese Catfish with Tight Domestic Supply


May 18 - ANALYSIS: Bigger Canadian Whole Fish Beginning to See an Uptick in the U.S. Market


May 11 - ANALYSIS: Frozen Salmon Market Slips Amid Lack of Foodservice Demand


May 11 - ANALYSIS: Cod Imports Increase Outside of China


May 4 - ANALYSIS: Rising Replacement Costs On The Squid Market


May 4 - ANALYSIS: Farmed Salmon Market Continues to Weaken Without Foodservice, Changes at Retail


Apr 17 - ANALYSIS: Farmed Salmon Complex Weakens; Index Down 5.3 Percent From Previous Week


Apr 14 - ANALYSIS: Q1 Shrimp Imports Predicted to Sit at Record High


Apr 6 - ANALYSIS: Crab Meat Industry Frozen in Place During COVID-19 Pandemic


Apr 6 - ANALYSIS: West Coast Halibut Season Opens Amid COVID-19


Mar 23 - ANALYSIS: A Look at the Farmed Salmon Market this Week and its Reaction to COVID-19


Mar 13 - ANALYSIS: A Look at the Impact of the Coronavirus on the Cruise Industry


Mar 12 - ANALYSIS: Supply Issues for Twice Frozen Haddock


Mar 12 - ANALYSIS: Salmon at Retail Remains Active; Shift in Market Share for Whole Fish


Mar 9 - ANALYSIS: Snow Crab Supplies in the U.S. Remain Short; Awaiting Alaska Snow Crab to the Spot Market


Mar 9 - ANALYSIS: European Demand Continues to Support Red Argentine Shrimp Sales, Despite Cautious Buying


Mar 9 - ANALYSIS: January Tilapia Imports and the Impact of the Coronavirus and Tariffs


Mar 2 - ANALYSIS: Frozen Atlantic Salmon Imports Hit All Time High in 2019


Feb 26 - ANALYSIS: Salmon, Cod and Tilapia the All-Stars at Retail During Lent


Feb 24 - ANALYSIS: Alaska Snow Crab Begins to Trickle into U.S. Market


Feb 14 - ANALYSIS: Tariff on Red Swimming Crab Meat Persists; Imports Down, Pricing Continues to Drop


Feb 14 - ANALYSIS: Squid Imports Lowest in 10 Years, 2020 Outlook


Feb 7 - ANALYSIS: December Shrimp Imports 1.4 Percent Lower, India Paces Shipments with 623 Million Pounds


Feb 7 - ANALYSIS: Lobster Imports Higher in December; More In-Shell and Meat from Canada


Feb 4 - ANALYSIS: Tilapia Market Leading into Lent


Jan 9 - ANALYSIS: YTD Pangasius Volume has Fallen Every Month Since March


Jan 9 - ANALYSIS: Second Month-Over-Month Surge for Chinese Catfish


Oct 25 - VIDEO: Chile Protests; Land-based Aquaculture to Grow; Oregon Rep. Calls Out Pebble Mine and More


Oct 21 - ANALYSIS: Seafood Items Swimming Upstream in October


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ANALYSIS: June Snow Crab Imports Significantly Higher Than Cyclical Behavior; Up 47% From June 2019

June 2020 imports, released on August 5, are above 2019 levels. According to the data, year-to-date levels are up 3.3 percent. On a month-to-month basis, imports in June were higher than imports in May 2020 by 24.2 percent. When comparing to June 2019 is where we see the most significant upward comparison of 47 percent higher than the same time last year. Overall snow crab imports are also 47 percent higher than the 3-year average...

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ANALYSIS: Cod Market Unsettled

The market for both Atlantic and Pacific cod remains slightly unsettled as we enter the eighth month of 2020. While some species have swiftly rebounded amid COVID-19 restrictions and reopenings, cod has seen a slower resurgence as demand picks up and slows down, unwilling to follow seasonal trends.

Prior to COVID-19, Atlantic cod was under upwards pricing pressure due to additional costs associated with the tariffs which will be under review in the coming weeks. In addition, the market saw a healthy demand leading into...

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ANALYSIS: Farmed Salmon Taking a Hit as COVID-19 Cases Increase Around the Country

Farmed salmon has begun to take a hit from restaurant closures and upticks in COVID-19 cases around the country. Last week the whole fish markets out of both the Northeast, West Coast, and Chile adjusted drastically lower. 12-14 West Coast Seattle whole dropped 10.3 percent from last week or $0.30.  

After a large uptick from almost all farmed salmon items from the middle of June through the week of July 4, the market appears to be dealing with an oversupply situation...

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ANALYSIS: European Imports of Frozen Shrimp Dip in April as Quarantine Issues Linger

As pandemic-induced bottlenecks remain a hindrance to dining options, imports of frozen shrimp continue to filter into European ports, albeit at a lesser pace.

Key Exporters

While demand at foodservice is gradually on the up, Asian and Latin American farmers have had to contend with low farm gate prices, with prices in Ecuador and India among the worst hit.

The EU imported a total value of €25.95 million worth of frozen shrimp from India—the largest exporter of shrimp into Europe...

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ANALYSIS: Snow Crab Entering U.S. Market Right Along With 3-Year Average

With May 2020 imports released last week, we see that Canada’s snow crab imports are very much following typical cyclical behavior regardless of the pandemic situation within the U.S. marketplace. Imports for May 2020 are up 943 percent from April 2020 and following the sharp line upwards for May, which is the norm for when the Canadian season opens. As compared to May 2019, however, imports are down 12.1 percent out of Canada; additionally, year-to-date imports for...  

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ANALYSIS: Spanish Octopus Holds Premium Amid Lackluster Sales

Unlike other species who have seen a rise in sales within the retail sector the second quarter of the year, octopus, for the American consumer, continues to be a protein reserved exclusively for the out-of-home dining experience. Octopus sales here in the U.S. are slow to rebound as restaurants and foodservice establishments are allowing limited capacity for indoor and outdoor seating.

Sales into Europe, on the other hand, are strong, supporting raw material and replacement prices in line with pre-quarantine...

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ANALYSIS: Imports of Shrimp Products from Saudi Arabia Spike

We look for anomalies in data in order to point out trends that may be emerging in the marketplace. One that stood out recently is the increase in shipments from Saudi Arabia. While small in comparison to other supplying countries, deliveries from Saudi Arabia to the U.S. are up 920% through April, totaling 1.12 million pounds. In 2019, we imported a total of 2.15 million pounds and in the previous two years, zero after seeing growth between 2015 and 2016...

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ANALYSIS: Tilapia Imports Rebound 98% in April

April imports of frozen tilapia fillets rebounded from the previous month by nearly 98 percent. 17.3 million pounds of volume with an approximate value of 27.3 million dollars recorded the largest grossing April since 2012, jumping 31.2 percent above the previous three-year average.

On a year-to-date basis, 2020 has brought in 74.2 million pounds of product, compared to 61.2 million pounds for the same timeframe in 2019, a 21.3 percent increase year-over-year.

When looking at total imports for...

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ANALYSIS: April Shrimp Imports Increase 6.2 Percent

April imports were released today and showed another increase over the same month last year, continuing the trend set in the first three months. The data showed a 6.2 percent increase over last April to 113.822 million pounds. Urner Barry Consulting expectations were in-line with actual figures against some others that believed imports would fall because of shutdowns across the globe.

Of our top five trade partners, gains from the consensus top two, India (+25.2%) and Indonesia (+44.6%) overpowered less...

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ANALYSIS: Upwards Pressure on the Scallop Market

As restrictions around the United States are lifted, prices on frozen Atlantic sea scallops during week 23 of 2020 are on the rise. Boat prices have been on a slow incline as more and more states give clearance for foodservice and restaurants to open in limited capacity. With the uptick in sales volume and growing demand for the species during its prime season, key industry players have taken a cautiously optimistic outlook for the coming summer.

Larger sized scallops, like U/10 counts, are...

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ANALYSIS: Opportunity for Chinese Catfish with Tight Domestic Supply 

Wholesale quotes collected on Chinese catfish frozen fillets during week 21 saw a wider range of prices compared to previous weeks. Depending on individual frozen inventory levels, prices ranged from $3.45 per pound on smaller 3-5 oz. sized fillets up to $3.80 per pound reported on 5-7 oz. sizes.  The bulk of trade, however, fell in between $3.55-$3.70 per pound. The wholesale market has continued to adjust lower in May due to the COVID-19 related halt in demand and sales...

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ANALYSIS: Frozen Salmon Market Slips Amid Lack of Foodservice Demand  

Frozen Atlantic salmon fillets continue to hit all-time import highs. Overall, the category is seeing a 27.7 percent increase year-to-date. Specifically, Chile, who is the category leader, is up 32.6 percent YTD and this month’s imports for March were 30.8 percent higher than those seen in February 2020. These YTD imports are at an all-time high with information dating back to 2009.  

From a cyclical view, imports are trending well above the three-year average. However...

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ANALYSIS: Rising Replacement Costs On The Squid Market

Frozen squid imported from China and Thailand have yet to see discounts emerge on U.S. wholesale prices amid the COVID-19 crisis. With most of the United States on lockdown since mid-March, the restaurant and foodservice industries, where squid is a staple item, have been majorly affected. Despite a drop in demand, importers are holding prices at listed levels, unlike other markets such as lobster tails, Dungeness crab, salmon and shrimp seeing week-over-week downward trends.

The key factor attributed to...

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ANALYSIS: Farmed Salmon Complex Weakens; Index Down 5.3 Percent From Previous Week

Continued weakening and downward pricing pressure on the farmed salmon market was seen throughout this week, the first week post-Easter.

Since the COVID-19 pandemic has hit the U.S. market, the retail sector, which had an active demand for salmon, looks to have now succumbed to a similar slowness seen in the farmed salmon market as a whole. Retail features or buying opportunities for this week are reported to be lower than the previous week and more...

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ANALYSIS: Crab Meat Industry Frozen in Place During COVID-19 Pandemic

As the crab meat industry navigates through the COVID-19 pandemic, the market is reacting much like many of the other frozen or shelf-stable seafood items, somewhat frozen in place.

The crab meat market is watching the situation at home. Foodservice sales have dwindled considerably, while retail and club store sales have increased. But with a majority of crab meat normally consumed outside of the home, market participants are also closely keeping an eye on overseas production. Crab meat producing countries, like...

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ANALYSIS: A Look at the Farmed Salmon Market this Week and its Reaction to COVID-19

The farmed salmon market, especially on fresh whole fish, was hit hard by the closure of U.S. restaurants this week. While other protein items that are frozen can weather the storm for a period of time, fresh perishable items, like farmed salmon, do not have that option.

The farmed salmon index at the end of this week dropped 4 percent from the previous week and is down 6 percent from the end of February...

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ANALYSIS: Tilapia Tariff Exemption Coming to End

August 7, 2020 marks the last day for tilapia frozen fillets, weighing no more than 115 grams, to be granted an exemption of the 25% tariff on product imported into the country from China. The industry awaits to see if there will be an extension granted on these smaller sized fillets, weighing approximately 4 ounces or less.

Logistically, this week marks an end to shipping product that will qualify for the exclusion, so there is potential the industry sees a slowdown in overseas buying...

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ANALYSIS: Frozen Tuna Imports Decline 31% in May

Total imports of frozen tuna fillets for the month of May declined 31.6% from the previous month and are 45% less than compared to May 2019. YTD total import volume is down 8.4% compared to this time last year, registering 33.3 million pounds. However, for the first four months of the year, Jan-April 2020, total imports registered 28.5 million pounds, a 3% increase over the same period last year. It must be noted that 2019 recorded the highest import volume at 90 million pounds...

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ANALYSIS: Pangasius - Below Average Imports, Optimistic Outlook

Imports of pangasius frozen fillets for the month of May diminished 38.2 percent, falling 3.8 million pounds from the previous month. Compared to the same month one year ago, however, volume saw an increase of 7.4 percent, noting that May 2019 marked the lowest May on record for pangasius imports since 2007.

Compared to the previous three-year average for the month of May, May 2020 falls 48 percent below average. So far, every single month of 2020 has fallen below the previous...

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ANALYSIS: May Shrimp Imports Decline 29.4 Percent

May shrimp imports were released today and in-line with expectations of the first year-over-year decline. That data showed May imports at 83.357 million pounds, 29.4 percent below May 2019. This was near the forecast by Urner Barry Consulting in early June

Of our top five trade partners, a change of leadership was seen with gains only from Indonesia (+10.5%), pushing this country to the number one spot. Less shrimp was shipped from India (-57.8%), Ecuador (-25.2%), Vietnam (-8.7%), and...

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ANALYSIS: Pricing For Snow Crab Above Year-to-Date Levels 

The snow crab market has seen large swings upwards the past two weeks and has been trending higher since the beginning of the season.  

All sizes of snow crab out of both the Gulf and Newfoundland have moved higher and pricing levels for all sizes are above year-to-date levels from the previous year.  

5-8s are still below YTD levels seen in 2018, but with the increases seen in the market yesterday, 2020 quotations for 5-8s are now trending...

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ANALYSIS: Fresh Seafood Imports Continue Decline in April

The negative impact of COVID -19 on seafood sales has been well documented. The lockdown orders and closures of dine-in restaurants across the country paralyzed sales. As the pandemic wore on, sellers adapted to the new environment and started to move product into the retail sector. Although demand remains strong in this sector, fresh inventories have been kept extremely lean. This is especially evident if we look at fresh import numbers. Imports of fresh mahi and tuna, as an example, began their decline in February...

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ANALYSIS: Canadian Lobster Season Starts Strong as COVID-19 Continues to Limit Demand

The Canadian spring lobster season has been underway since mid-April, with the gulf region commencing May 15. The weather has been cooperating and initial landings have been strong. In any other year this would be a welcome relief. However, we are operating in the time of COVID-19. Restaurants are closed, there is very little demand from the foodservice sector, cruise lines are docked, and sales to the re-opened economies in China and Europe have been slow...

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ANALYSIS: Buying Opportunities Increase for Snow Crab at Retail

As the season out of both Newfoundland and the Gulf of Saint Lawrence continues to get underway in Canada, the U.S. market is starting to see snow crab flow back into a starved marketplace.  

The previous season out of Canada saw record high prices with the all-time high hitting $9.55 at the end of February on 5-8s out of the Gulf. Supplies out of Canada in 2019 also ended the year 14.7 percent higher than 2018; thus suggesting...

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ANALYSIS: Bigger Canadian Whole Fish Beginning to See an Uptick in the U.S. Market

The U.S. market for Canadian whole fish has been under downward pricing pressure since the “Great Lockdown” began in March. An item that is heavily used in the Foodservice sector, demand for whole fish out of Canada was hit hard by restaurant closures. However, with states beginning to open back up at 25 to 50 percent capacity, coupled with a lack of available fish out of Europe and an overall lack of availability of larger sized fish out of all origins...

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ANALYSIS: Cod Imports Increase Outside of China

While year-to-date total cod imports into the U.S increased only 1.8 percent compared to the same timeframe last year, volumes from individual countries saw more significant gains. Imports from Russia increased 62% or by 870,795 pounds, Vietnam imported 39% or 412,972 pounds more, and Indonesia saw a 1440% increase, or 539,150 pounds, as there were no reported imports from the country during this time last year.

When looking at import data from China, year-to-date volumes from January through March fall 2.1 percent...

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ANALYSIS: Farmed Salmon Market Continues to Weaken Without Foodservice, Changes at Retail

As we previously reported, a drop post-Easter is not unusual for farmed salmon. But 2020 has been far from typical.

The farmed salmon market this week dropped 6 percent from the previous week and is down 19 percent from the middle of March when much of the U.S. market started shutting down foodservice due to COVID-19.

Retail activity this week was reported to be up but does not appear to be active enough to take excess...

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ANALYSIS: Q1 Shrimp Imports Predicted to Sit at Record High

Shrimp imports for March 2020 will not be available until approximately one month from now. Yet, in our attempts to accelerate the availability of this data using current customs data and proprietary modeling, our estimates for March 2020 indicate that imports grew by 10.3% compared to March 2019, totaling 119 million lbs.

This would position shrimp imports at a record high during Q1 with 379.2 million lbs. in 2020, registering a 16.6% increase or 53.6 million lbs. more than Q1 2019...

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ANALYSIS: West Coast Halibut Season Opens Amid COVID-19

The fresh west coast halibut season began on March 15 amidst the ongoing COVID-19 pandemic. Initial “first fish” sales were somewhat unsettled and reported to be in the mid $7.00 range, settling at $6.26 to close the month - a  10-year low. Current market prices for whole fresh 20-40 lbs., are 19% lower than their 10-year average of $7.77.

Since the outbreak of COVID-19, fresh seafood sales have been constrained as demand has shifted from...

 

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