The Juneau, Alaska-based Alaska Seafood Marketing Institute (ASMI) has released its 2024 annual report, highlighting the successes and challenges of a sector under pressure from both the setbacks of recent Alaskan history and the pressures of retaliatory tariffs in response to U.S. President Trump’s trade war.
“Commercial fishing is woven into the fabric of our economy, culture, and way of life,” said ASMI Executive Director Jeremy Woodrow, who called the sector an “industry worth fighting for” in his annual report message.
The industry is still recovering, Woodrow explained, from a “staggering USD 1.8 billion [EUR 1.6 billion] economic loss” between 2022 and 2023, which “is unsustainable and will require all hands on deck to address.”
Woodrow praised both Alaska Governor Mike Dunleavy and the Joint Legislative Task Force Evaluating Alaska’s Seafood Industry for working to address the state's seafood challenges.
“With continued investment and strategic support, Alaska can ensure commercial fishing’s strength and resilience for generations to come," he said.
One major challenge facing Alaska seafood was increased competition from Russia, which undercut prices for wild salmon, pollock, cod, and crab to fund the war on Ukraine. ASMI hopes hopes to turn this challenge into a strength by capitalizing on markets, in particular the U.S., where Russian seafood is currently banned from importation. ASMI wants to increase brand recognition of key species in the American market and expand recognition and market acceptance for the Alaska Responsible Fisheries Management (RFM) certification program in support of that effort.
The report highlighted the group's domestic marketing successes from 2024, such as ASMI’s focus on sablefish with large U.S. retailers during Lent, which led to large sales increases. The institute also launched an e-commerce partnership with major retailers that drove USD 156 million (EUR 138 million) in total sales and a marketing partnership with McDonald's which emphasized that14,3000 franchise locations across the nation use Alaska seafood.
