Top Story: Ecuador shrimp production at record this year; US share falls 

News Summary:

Ecuador is pumping out a lot of shrimp, and as of July, has hit record production. As a result, US imports have risen to record levels last month as well, but overall, the US is losing market share, as even more Ecuador shrimp goes to Asia. Based on Urner Barry analysis, the flood of smaller sized shrimp from Ecuador is one reason the market for smaller sizes is weak. 

Turning to another commodity - sockeye - prices are tumbling as packers and buyers prepare for the large Fraser run. So far nothing has derailed expectations of a very large late season run, with new estimates of the early and summer run now at 8.5 million fish, with the fall late run yet to come. Fresh 4-6 lb H&G sockeye in Seattle is approaching the low prices they fetched in 2010, the last year the Fraser had a massive run. 

Russian Sea Co., one of the seafood companies most successful with political influence, is going to get slammed by Russian economic sanctions. Analysts expect their income to fall 60%, and say there is just no way to make up the 29,000 tons of salmon they had already committed to purchase from Norway. IN the Far East, salmon production will be down 15% or more, and more importantly, about half the Far East catch has already been sold to China and Korea, and won’t be available to resupply the domestic salmon market. 

The convoluted tale of the legal battle between the owners of Mar-Lees and their ex-president John Lees (also an owner) of kickback schemes and side deals is nearing conclusion in an arbitration court. The preliminary ruling went to Mar-Lees current owners, but John Lees’ lawyer says no harm was done to Mar-Lees, but instead they got the benefit of John Lees connections to Safeway. 

New Zealand’s fishery minister announced an increase in Hoki quota and in two Orange roughy stocks, highlighting the success of New Zealand’s sustainable fish management. Orange Roughy in particular was improved through a government-industry cooperative research project that allowed for far more accurate counts and assessments. 

Finally - who knew Belarus, the landlocked nation on the border of Russia, was now a shrimp producer. Some Russian supermarkets have begun labeling their shrimp ‘product of Belarus'. When commentators pointed out Belarus has neither a coastline nor shrimp processing, others said ‘but those are river shrimp.’ It seems like Russian consumers may have not only found a new supplier country, but a new species as well.

John Sackton, Editor And Publisher , Lexington, Massachusetts 

Seafood.com News 1-781-861-1441 

Email comments to jsackton@seafood.com

Subscription info: Seafood.com is a subscription service, published by Seafood.com and Urner Barry. Urner Barry's COMTELL subscribers receive Seafood.com news as part of their subscription package. Other companies and individuals need to subscribe to read our stories. If you or your company has not signed up yet, please consider doing so.

2014 Subscription prices for Seafood.com News are $26 monthly for a single user, $43 for 2-5 users, and $62 for 6-20 users. For questions about subscriptions or passwords, please Urner Barry at 1-800-932-0617, or subscribe on-line with a credit card by clicking the subscribe button.

Subscribe Here.