SeafoodSource today announced the launch of a new tool for seafood industry stakeholders seeking pricing insights.
"Seafood professionals operate in a market where pricing information is fragmented and difficult to validate, forcing teams to spend valuable time reconciling sources and testing accuracy," SeafoodSource Digital Product Director Kate Shagoury said. "The result is slower decisions, greater risk exposure, and missed opportunities.”
In response, the SeafoodSource team developed a new data aggregation tool and membership tier. The Premium+ membership level gives readers access to the Pricing Portal, which offers continuously updated global pricing data as well as proprietary pricing information sourced by SeafoodSource’s price reporting team.
"By combining global pricing data in near real-time with proprietary prices confirmed by our expert reporters, the Pricing Portal provides industry leaders with a single, trusted view of market conditions that enable faster, more confident decisions,” Shagoury said.
The SeafoodSource Pricing Portal aggregates data from NOAA, EUMOFA, and the Norwegian Seafood Council every two hours, giving users easy-to-navigate access to what SeafoodSource Price Reporting Specialist Erin Spampinato called “the most up-to-date pricing information in historical context.”
The Pricing Portal tracks both current and historical data for five key seafood commodities: cod, lobster, salmon, shrimp, and tuna.
"That comprehensive view of the pricing landscape across time, region, and seafood commodity has traditionally been very hard to access, requiring the use of advanced digital tools and the navigation of a number of disparate databases,” Spampinato said.
Diversified Data and Reporting Analyst James Ramsdell, who designed the Pricing Portal and engineered its advanced data-scraping capabilities, said that he sees personalization and data translation as the tool’s most desirable offerings.
"The portal offers several advantages to the user compared to directly accessing the primary sources,” said Ramsdell. “They have current and historical data from all sources in one place, with rich visuals and clear key metrics. Finally, they have the ability to switch between different currencies and units of weight.”
"Currenc[ies] in the dashboard do not reflect inflation, but they do reflect the exchange rates at a given time. For example, an export made in June 2023 reported in euros can be viewed instead in USD with the exchange rate of that point in time. Historical exchange rate data is gathered from an official European Union financial source,” Ramsdell said.
"Our tool allows users to slice data in highly particular ways that suit their individual business needs, and it does it without requiring any advanced digital skills or a data analysis background. Users can even download tailored data visualizations for use in their business communications, and our Pricing team is on hand daily to support this kind of work,” Spampinato said.
The Premium+ membership tier also includes exclusive reporting on proprietary price data from verified buyers and sellers of seafood commodities, sourced from SeafoodSource’s network of industry contacts. This reporting, Spampinato said, gives users an “on the ground account of the market, while the Pricing Portal gives them a bird’s eye view of the trends.”
In time, Spampinato said, verified proprietary data will be regularly fed into the Pricing Portal, furthering broadening the information landscape offered by the tool.
"The tool we have built is incredibly robust. We have stress tested it for months, exploring the best ways to make the most fully-contextualized current pricing data accessible to seafood industry stakeholders. We are so excited to share it, but we are also excited because we are still at the very beginning of this project,” she said. “As data collection capabilities become more advanced and AI tools grow more nimble, we will be continuously improving our offering to keep giving SeafoodSource readers the most comprehensive view of the seafood commodity landscape.”
