Pico Agriviet Company
W42: SEAFOOD UPDATE
Pico Agriviet
Crab
On October 13th of 2022, the Alaska Department of Fish and Game announced that the Bristol Bay Red King Crab (BBRKC) season would be closed in the Bering Sea for the second year (2021-2022). The Bering Sea snow crab season will be closed for the first time in the history of the North Pacific Council. Both seasons were closed due to conservation concerns amid warnings of more acidic and rapidly changing ecosystems in the Bering Sea.
Lobster
It has been a difficult year for Canadian lobster merchants as live lobster prices were set high for the spring and summer seasons. Although the outlook was positive, wholesalers stopped buying and sent prices tumbling because restaurants and retailers found it hard to move the product at the higher prices. For W42, prices for premium live lobster have fallen to USD 8.50/lb and USD 9.20/lb for Chixs and Quarter sizes.
Salmon
Canada: First Nations Worry Feds Are Flip-Flopping on British Columbia Fish Farms Transition (Oct 21)
First Nations fighting to get salmon farms out of the ocean are dismayed in the wake of federal Fisheries Minister Joyce Murray’s recent engagement tour on a plan to transition open-net pen operations in B.C. Murray spent much of last week visiting Vancouver Island aquaculture operations, and meeting with First Nations, industry operators, wild salmon conservation groups and coastal community leaders in Campbell River and Port Hardy.
Chile: Chilean Coho Salmon Reaches New Destinations in 2022 (Oct 18)
Chilean salmon producers’ efforts to diversify the Coho salmon markets in the latest years have been shown so far in the 2022 exports as Coho salmon is being commercialized in many markets. In previous years, 95% of Coho salmon was sent to Japan, but this year it reached counties like Korea, Malaysia, Singapore, the United States, Canada, and Brazil. Coho salmon producers look forward to diversifying and expanding their market further.
Chile: Small Price Increase of Chilean Salmon in the US Market in W42 (Oct 21)
The price for the fresh Trim D Atlantic salmon filets from Chile increased by USD 0.05/lb by the end of W42 in the US market, representing a 0.9% price rise WoW. In W42, FOB prices in Miami stood at USD 5.65-5.85/lb for the 2/3 lbs, and at USD 5.75-5.95/lb for the 3/4lbs. The supply of Chilean Atlantic salmon filets in the US is enough for the current demand.
Shrimp
China: Overtaking the US, China Becomes the Market That Buys the Most of Vietnamese Shrimp (Oct 21)
According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), in September 2022, Vietnam’s shrimp exports reached 349 million USD, up 13% over the same period in 2021. Accumulated in the first 9 months of the year, shrimp export value reached 3.4 billion, up 23% over the same period last year. Notably, in September 2022, Vietnam’s shrimp exports tended to increase in Asian markets such as Japan, China, and Korea while quiet in Western markets such as the US and EU. In September, China became the largest import market for Vietnamese shrimp.
Ecuador: Ecuador’s Shrimp Sector Makes Ground-Breaking Pledge to Halt Habitat Conversion (Oct 20)
WWF-Ecuador and Ecuador’s National Chamber of Aquaculture (Cámara Nacional de Acuacultura – CNA) have signed an agreement that will end habitat conversion from shrimp farming nationwide.
India: Rejection of Seafood Containers From India to Qatar Due to Salmonella Detection W42 (Oct 20)
In W42, several shrimp containers from India to Qatar Port are being rejected upon arrival. Due to the detection of Salmonella in some samples, containers in transit to Qatar are being returned. Bangladeshi containers have reported similar issues. Due to this, Qatar authorities have stated a temporary ban, stopping the import of fresh and frozen marine products such as fish, shrimp, squid, mussels, and oysters from India and Bangladesh as of October 7th, 2022. Exporters are expecting communication between authorities of both countries and for exporters to agree on the necessary procedures to ensure the quality of the seafood exported to Qatar.
Japan: Price for Imported Shrimp in Japan Might Drop In W42 Due to Oversupply (Oct 17)
Prices of imported frozen shrimp in Japan may fall in W42 due to overstock in the market caused by overproduction. According to sources, shrimp from South-eastern Asia are overstocked in Japan and buyers stopped new orders to maintain their selling prices. Most suppliers selling their shrimp to Japan are prepared for lower profitability due to lower prices caused by lower demand because of the weakening of the yen and overproduction.
Tuna
Japan: Japanese Demand for Frozen Tuna Filets Resilient Despite Higher Prices (Oct 18)
Japanese imported volume of frozen tuna filets from June through August 2022 was 3% above 2021 levels despite a 21% YoY increase in the average price. China held the first spot in terms of exported volume of this product to Japan, while Malta held it in terms of exported value.
Portugal: Good Bluefin Tuna Yield Along the Tavira Shore in the Algarve Region of Portugal (Oct 17)
The Bluefin tuna season along the Portuguese South coast (going to and leaving from the Mediterranean sea) runs from late April to early October annually. During the 2022 season, the biggest fishing company in the Algarve region caught 200 MT of Bluefin tuna along the Tavira shore, respecting all the fishing quotas defined before the season starts. This stock will be sold in the major premium supermarkets in Europe but also in East Asia.
Vietnam: Tuna Exports to the US and EU Can Reach USD 1B (Oct 20)
Specifically, according to VASEP, in September 2022, tuna exports reached more than USD 78M, up 54% over the same period in 2021. Accumulated in the first 9 months of 2022, Vietnam’s tuna exports reached nearly USD 808M, up 55% over the same period in 2021.
Source: https://www.tridge.com/stories/w42-seafood-update
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