ANALYSIS: Framework 40 Guidelines Released as Atlantic Scallop Pricing Hits All-Time Highs

NOAA Fisheries' announcement of Framework 40 specifications for the 2026-27 Atlantic Sea Scallop season projects landings of 17 million pounds, representing a notable 5.7% decline from the current season's 18.03 million-pound target under Framework 39. The reduction reflects ongoing resource constraints despite recent management adjustments aimed at maximizing fleet flexibility....

ANALYSIS: Norwegian Salmon Harvest Climbs as Spring Warming Threatens Production

The total harvest of Norwegian Atlantic salmon in 2025 was 11.9% higher year over year (YOY). According to the Norwegian Directorate of Fisheries, the harvest level through February 2026 was 12.3% higher year-to-date (YTD). However, a seasonal decrease in biomass has been observed, with the volume of Atlantic salmon alive 3.4% lower YOY. Despite the reduction in biomass, market participants remain positive that production will remain stable in 2026...

Wanchese Fish Receives Governor's Award to Support Virginia Seafood Industry

Last Friday, Virginia Governor Abigail Spanberger awarded Wanchese Fish Company, Inc., a $248,000 grant to expand production capabilities at its Suffolk facility. The grant is part of the Governor’s Blue Catfish Processing, Flash Freezing, and Infrastructure Grant Program, designed to support Virginia’s seafood industry. Wanchese will invest in advanced automation equipment for their retail-packed blue catfish line. 

Wanchese — a family-owned company that is part of Cooke Seafood USA, Inc. — bought approximately one million pounds of blue catfish in 2025 from local fishermen...

Atlantic Sapphire Secures $10 Million Bridge Loan Securing Near-term Operations

Atlantic Sapphire ASA has secured a $10 million bridge loan from its key investors while increasing the potential buyout offer price to NOK 0.80 per share as part of broader refinancing discussions, the land-based salmon producer announced March 27.

The bridge loan provides up to $10 million in two $5 million tranches, carrying 12% annual interest and a 15% origination fee, with maturity set for May 15, 2026. The facility ranks senior to Atlantic Sapphire's existing convertible loan and can be extended if parties...

ANALYSIS: Snow Crab Market Faces Mixed Supply Landscape as Canadian Quotas are Set

The snow crab market is entering a pivotal time of the year as new-season supplies approach, and market participants analyze quotas, inventory positions, and needs for the coming year. With a few snow crab quotas set or biological information posted, the expectation across major producing regions is a mixed supply landscape that will likely influence pricing and availability throughout 2026.

Norway's 2026 snow crab quota is set at 27.2 million pounds (12,336 MT), representing a 3% decrease from 2025 levels...

Canada Announces 2026 Snow Crab Quotas: Newfoundland Down 3%, Gulf Faces Steeper 11% Cut

Canadian Fisheries Minister Joanne Thompson announced coordinated quota decisions for the country's major snow crab fisheries today, setting Newfoundland and Labrador's 2026 Total Allowable Catch (TAC) at 61,004 tonnes and the southern Gulf of St. Lawrence at 16,267.90 tonnes.

While Newfoundland faces a modest 3% decrease from 2025 levels, the Gulf region received significantly steeper reductions with an 11% cut, marking the third consecutive year of quota decreases for Canada's second-largest crab fishery.

Despite the overall reduction...

Framework 40 Sets Atlantic Scallop Target at 17M Pounds; Public Comment Period Open Until April 27

NOAA Fisheries has published an interim rule for the harvest, bycatch, and research removals for Atlantic Scallops in the Federal Register. They want public comment on these management measures under the new Framework 40 for the Atlantic Scallop Management Plan, and those comments should be submitted by April 27, 2026.

The new framework is the result of survey data showing a recent downturn in abundance and projects landings for the 2026 season at 17 million pounds...

Retailers and Platforms Unveil Fuel Relief for Consumers and Drivers

According to Expana’s report Friday on the Middle East conflict, the ongoing closure of the Strait of Hormuz continues to disrupt the movement of oil and fertilizer, driving up energy costs worldwide. 

In response, some companies are rolling out temporary measures intended to help consumers and workers manage higher fuel costs.

Subway, for example, will offer Sub Club members a free footlong sandwich with the purchase of another footlong from April 1 through April 28 at participating locations.

The deal is valid for orders placed...

UK Protein Producer Hilton Foods Refocuses on Meat as Seafood Unit Struggles

Hilton Food Group is restructuring its seafood operations following a strategic review that revealed the division's limited alignment with the company's core meat processing capabilities, according to the UK processor's 2025 annual results.

The company's UK seafood business, Seachill, became "marginally loss-making at an adjusted operating profit level in 2025," contributing to a 17.2% decline in UK & Ireland adjusted operating profit to £37.5 million. The performance deterioration was driven primarily by volume reductions as inflation pressures affected demand and profitability...

Fishery Product Imports Surged 20% in Japan to 156,000 MT in February, 31% to JPY 169.1 Billion

According to trade statistics released by the Ministry of Finance on March 27, imports of marine products in February (preliminary figures, including fish and shellfish, fishmeal, and seaweed) increased by 20% year-on-year to 156,079 tons, and their value increased by 31% to 169.136 billion yen ($1.06 billion). Imports increased for most fish species, with fresh and frozen salmon and trout increasing by 18% to 24,987 tons, frozen tuna by 25% to 18,262 tons...

Spanish Seafood Giant Nueva Pescanova Achieves Turnaround After Years of Losses

Grupo Nueva Pescanova achieved a €1.1 million net profit in 2025, marking a return to profitability after several consecutive years of losses and signaling the successful completion of its recovery plan.

The Spanish seafood company reported a positive result compared to €37.9 million in losses during the previous year's nine-month period, with twelve-month 2024 losses totaling €91 million. The turnaround exceeded company forecasts, positioning Nueva Pescanova to begin a new phase of development and investment in 2026...

Seafood Expo Global Announces 90+ Industry Speakers for Barcelona Conference Program

Seafood Expo Global/Seafood Processing Global has announced its conference program for the 32nd edition, featuring more than 90 international experts leading over 30 educational sessions addressing key industry trends and challenges.

The event, taking place April 21-23 at Fira de Barcelona, will bring together companies from more than 80 countries with speakers representing major organizations including the FAO, World Trade Organization, WWF, and leading seafood companies.

Economist and geopolitical strategist Dr. Nomi Prins will deliver the keynote address titled...

ANALYSIS: Live Lobster Market Remains Firm as Tight Supply and Shifting Canadian Season Shape Outlook

As the market approaches the Canadian spring season, pricing remains firm during what is typically one of the tightest supply periods of the year. Seasonally limited net supply continues to support both shore prices and wholesale market values. However, the current firmness appears to be driven more by supply constraints than by demand strength. With the holiday pull behind the market, buyer participation remains subdued, and the overall trading tone remains cautious despite limited availability.

This firm supply backdrop is reflected in New England...

Sysco to Acquire Jetro Restaurant Depot for $29.1 Billion

Sysco, the largest broadline food distributor in the US, has agreed to acquire Jetro Restaurant Depot, a leading cash-and-carry food wholesaler, for $29.1 billion, a deal the companies described as "transformative" for both organizations.

The March 30 announcement will see Sysco enter the "high-margin, growing, and resilient" cash-and-carry sector, creating a combined entity with nearly $100 billion in annual revenue and significant expansion opportunities.

Restaurant Depot operates 166 warehouse stores across 35 states, serving over 725,000 independent restaurants...

Despite 20% Volume Drop, Japan’s Feb Fishery Export Value Rises 6% to ¥30.6B

According to trade statistics released by the Ministry of Finance, February exports of marine products (fish and shellfish and their preparations, and fishmeal) were down 22% year-on-year (YOY) to 35,730 tons in volume, but up 6% in value to 30.642 billion yen ($191.16 million). Scallop exports increased by 59% to 3,527 tons and 10% to 7.643 billion yen ($47.68 million). Frozen scallops in their shells saw significant increases in both volume and value. Yellowtail exports were down 14% to 2,758 tons but increased 30% to 5.839 billion yen ($36.43 million). Frozen fillets increased in value due to higher unit prices. The Minato Shimbun reported this.

SalmonChile and Fisheries Undersecretary Tour Suppliers to Advance Sustainable Salmon Farming

President of SalmonChile Patricio Melero and Undersecretary of Fisheries and Aquaculture Osvaldo Urrutia visited two national suppliers, Compas Marine and GripShip, to review technological advances and projects that are strengthening sustainability across the sector.

These visits are part of SalmonChile's broader efforts to strengthen public–private dialogue and create shared learning spaces that support the sustainable development of Chilean salmon farming, a key economic engine for the country’s southern regions.

At Compas Marine, the delegation was welcomed by founder Jorge Pacheco and his...