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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


Aug 5 - ANALYSIS: Shrimp Imports Climb Again in June


Jul 19 - The Fishery Problem from Hell: Right Whales and Gear Entanglement (The Winding Glass)


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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: 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: Supply Issues for Twice Frozen Haddock

Haddock is on the move, once again, in what seems to be a rollercoaster of events for the market. Frozen haddock fillets from China, originally hit with a 10% tariff beginning September 2018, increasing to 25% in May 2019, saw prices steadily climb to record highs until finally being granted an exclusion in December 2019, allowing prices to finally soften the following month.

Because of those tariffs, importers exercised conservative buying habits with the higher priced product, and now, months later, we are...

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

Market quotations for Canadian snow crab were removed last week. Canadian snow crab supplies are nil and snow crab supplies from other origins, i.e. Alaska and Russia are also very short. Market participants report that they are still fielding calls from buyers looking for or inquiring about product.

Russian snow crab imports ended 2019 up 4.4 percent compared to 2018. It’s an unsettled undertone for Russian snow crab currently with both higher and...

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ANALYSIS: January Tilapia Imports and the Impact of the Coronavirus and Tariffs

Tilapia frozen fillets, the largest seafood item by volume imported into the United States from China, has yet to see an impact at the wholesale level in the wake of supply chain disruptions caused by the coronavirus. With reports from key industry players that overseas plants are currently working at a 25-50% capacity and have started shipping out limited product this week on orders from before the Chinese New Year holiday, wholesale prices remain steady in the 10th week of 2020...

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

With the beginning of Lent today, many Christians will start to follow church guidelines to abstain from meat and will look to seafood as an alternative.

Seafood is historically an extremely popular item during the Lenten season before Easter, and salmon is one of the highlights. Each year, the number of buying opportunities at retail rises for the week of Ash Wednesday. This year, even with headwinds from the coronavirus (COVID-19) outbreak in certain regions of the world, is shaping up to be no different...

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

The impact of coronavirus continues to grow with increased restrictions implemented daily.

China restricted movements and shut down business commerce, Italy followed suit after a surge in cases, and now the United States has restricted travel from Europe, have stopped professional sport leagues or large gatherings in certain states, or have called for no spectators at others. This has impacted the global economy leading to steep financial market losses and bond yields.

The situation is so fluid that only four days ago, the U.S State Department recommended...

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

Market participants in the farmed salmon market, as with all other markets across the globe, continue to watch how the coronavirus (COVID-19) unfolds and how consumers, governments, etc… react. As has been documented in other reports and articles on our sites, foodservice demand is very quiet and thus having an effect on fresh whole salmon; which is the more popular product form for foodservice. Most origins of fresh whole salmon adjusted lower yesterday with the exception of Chilean whole fish which had...

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

While European supply of wild caught Pleoticus Muelleri—better known as Argentine red shrimp—remains somewhat insulated from the COVID-19 outbreak, economic and geo-political uncertainty continue to influence trade dynamics.

In a bid to protect the growth of juvenile Argentine red shrimps, carefully considered measures, including adjustments to harvest schedules, have been taken in recent years. As a result, the Argentine red shrimp industry is the most profitable fishery in the Argentine Sea.

Between 2012 and 2015 the Argentine red shrimp fishery was...

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

Frozen Atlantic salmon fillets finish 2019 at an all-time high. A total of 111.8 million pounds were imported for 2019, which is 9.9 percent higher than 2018 and 12.7 percent higher than the overall 2017 total.

The leaders in the category saw higher levels to close out 2019. Chile imported 70.3 million pounds, up 1.5 percent from last year and Norway imported 31.2 million pounds, up 8.6 percent from last year.

The month of December saw the largest spike on record...

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