Cliff White is the executive editor of SeafoodSource. He has 15 years of experience as a professional journalist, including serving as the senior business reporter for the McClatchy-owned Centre Daily Times in State College, Pennsylvania, where he won state and national awards for his coverage of the development of the Marcellus Shale natural gas deposit and the Jerry Sandusky scandal.
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Thai Union has received an A+ financial rating despite the impact of its decision to sell Red Lobster at a significant loss.
The rating, released 25 January, was issued by Tris Rating Co. – a credit rating agency minority owned by Standard & Poor's.
Thai Union’s announcement it will exit Red Lobster and take a THB 18.5 billion (USD 530 million, 481 million) impairment charge in Q4 2023 was made on 16 January 2024.
“Tris
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The United States and the European Union have seen reduced imports of pollock fillets, even as domestic production of Alaskan pollock fillets is rising in the U.S.
At the 2024 Global Seafood Market Conference in Orlando, Florida, U.S.A. on 25 January, Genuine Alaska Pollock Producers Director of Industry Relations, Partnerships, and Fishery Analysis Ron Rogness reported the global pollock catch will increase 12 percent between 2022 and 2024,
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U.S. demand for scallops has slowed, but excess Japanese supply being rejected from China has still managed to find a new home filling in the gap of lower U.S. catch rates.
There have been three consecutive years of reductions in U.S. North Atlantic sea scallop landings, and although the quota is expected to rise by 1 million pounds to 26 million pounds in 2024, reduced supply has opened up a window for Japanese scallops to take over market
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The European Commission has informed six of the largest Norwegian salmon producers it is advancing an investigation into price fixing in the spot market.
The E.C. alleges Mowi, Cermaq, Grieg, Bremnes, Lerøy, and SalMar breached E.U. antitrust rules by colluding to distort competition in the market for spot sales of Norwegian-farmed Atlantic salmon in the E.U. between 2011 and 2019, including exchanging commercially sensitive information.
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Stable supply and a hungrier Asian market provided the basis for a solid year for the North American lobster industry.
North American lobster landings are expected to be down 5 percent in 2023 once totals are released, but the resource is in excellent shape and continues to be reliable, according to a panel of shellfish experts speaking at the 2024 Global Seafood Market Conference in Orlando, Florida, U.S.A. on 23 January.
“We've been
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Snow crab selling for as little as USD 5.99 (EUR 5.48) per pound helped clear a glut in inventory and served as a loss leader for U.S. supermarkets in 2023, according to Direct Source Seafood CEO Roman Tkachenko.
Snow crab prices sunk to historic lows in 2023, even though the snow crab fishery in the U.S. state of Alaska was closed and it became more difficult to bring Russian product into the U.S. due to sanctions stemming from the invasion of
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A controversial escrow rule put in effect by the government of Indonesia in August 2023 has taken a bite out of the country’s pasteurized crabmeat exports.
The regulation requires exporters sending cargo with a value of USD 250,000 (EUR 232,000) or more to deposit at least 30 percent of their earnings in a special bank account controlled by the Indonesian government for a minimum of three months. The government’s justification for
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Falling inflation could improve net demand, portending better seafood sales in 2024, according to Bank of America Managing Director and Chief Investment Office Macro Strategy Head Tim McGee.
Speaking at the 2024 Global Seafood Market Conference, taking place in Orlando, Florida, U.S.A. from 23 to 25 January, McGee said election-year economic moves by the administration of U.S. President Joe Biden and by the U.S. Federal Reserve focused on
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The recent expansion of the U.S. ban on Russian seafood has deepened a divide that has split the U.S. industry into opposing camps: those who support the prohibition and those who oppose it.
The tensions, which have spilled over via proxies onto the floor of the U.S. Senate and divided the U.S. industry's largest trade group – the National Fisheries Institute (NFI) – are the byproduct of an important and rigorous debate, according to
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Teaneck, New Jersey, U.S.A.-based Eastern Fish Company has been forced to make adjustments following Marubeni’s sale of North Pacific Seafoods in 2021, according to Eric Bloom, the company’s president and COO.
Marubeni, a Tokyo, Japan-based conglomerate, which reported USD 68 billion (EUR 62.4 billion) in sales and USD 4 billion (EUR 3.7 billion) in profit in 2022, acquired Eastern Fish in 2014 with the goal of strengthening its
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