Economic Impact

October 21, 2014 — The chum salmon market is puzzling buyers globally this season as harvests are lower than expected, reports Rob Reierson in the 3-Minute Market Insight from Tradex Foods, Monday 20 October.

View the video at The Fish Site

 

SEAFOODNEWS.COM [SCOM] — October 20, 2014 — Bumble Bee Foods has voluntarily recalled of their 4/5oz Albacore pouches sold between March 3, 2014 and September 11, 2014 to BJ's Wholesale club.

The recall is due to defects in the pouch seals, which could result in product contamination by spoilage organisms or pathogens, which could lead to illness if consumed. In early October, Wegman's recalled Bumble Bee's 2.5-ounce packages of premium albacore in water, with UPC 8660024011. The containers were stamped with “best by” dates of March 2017 to September 2017. Wegman's said the recall was prompted after defects were found in the pouch seals, which could lead to contamination through spoilage organisms or pathogens.

BJ's said customers have been told that can get a full refund of their purchases you by visiting the Member Services Desk at the BJ's store where the item was purchased. 

"If you purchased the recalled product listed above, please discontinue use and discard the remaining product(s); please do not return the product to the Club," BJ's said in a press release.

This story originally appeared on SeafoodNews.com, a subscription site. It has been reprinted with permission.

October 17, 2014 — With the sustainability of world fisheries under threat and heightened attention being paid to what and how we eat, fish previously on the sidelines are now getting some of the spotlight. How have these fish species, once relegated to the category of by-catch, or “trash fish,” found themselves increasingly more desirable?

The question is met with as many variables as affected species. Biologist Michael Tlusty, Director of Research at the New England Aquarium in Boston, approximates 85 percent of our seafood consumption takes the form of about ten species of big name fish. Tuna, salmon and shrimp take precedence over other mistakenly caught marine species known as by-catch, such as monkfish, hake and pollock.

But it wasn’t always this way. Hundreds of years ago, when fishermen in skiffs hauled in prolific amounts of cod from bountiful fisheries in the Gulf of Maine, nearly everything caught was considered a viable food source. As we became more affluent, we also got pickier, preferring meatier and tastier fish. When coveted species proved less abundant, we were compelled to tighten fishing practices and step up our conservation and sustainability efforts. Since the induction of the Fishery Conservation and Management Act of 1976, the fishing industry has faced progressively stricter regulations.

Read the full story from Boston University's The Quad

October 16, 2014 — Ocean-related businesses in Maine are teaming up with an Icelandic entrepreneur to establish a so-called "cluster" – or business incubator – on Portland's waterfront. The aim is to grow the local economy and commercialize new maritime products and services.

Gov. Paul LePage joined Portland city officials and business representatives Thursday morning to make the announcement. The New England Cluster, as it's called, is to be based on an existing model in Reykjavik called the Iceland Ocean Cluster that's attracted more than 30 local companies in a so-called "cluster house," where they can collaborate and grow their businesses.

It was set up three years ago by Icelandic businessman Thor Sigfusson, who's hopeful the New England venture will grow in a similar way and attract some exciting local entrepreneurs. "I hope that our collaboration is going to lead to interesting new ideas and hopefully a creative environment and brilliant opportunities for young people in this area," Sigfusson said.

Read the full story and listen to the audio at MBPN

October 15, 2014 — After two years of meager harvests, the forecast for this year's stone crab catch is cautiously upbeat, though prices likely will remain high.

Crabbers won't know until they start hauling up traps on Wednesday, the official start to the season, but Bill Kelly, executive director of the Florida Keys Commercial Fishermen's Association, pointed to the absence of crabs' two biggest nemeses: a blood disease in the crabs called hematodinium parasite triggered by red tides in the Gulf of Mexico, and tropical storm interference during the harvesting period.

 "If we don't have any storms, we are fairly upbeat that it will be a productive season," he said, noting that concerns about the blood disease have abated but still exist in the Panhandle (where he also said "there is a lingering question about whether there's any correlation in northern gulf (crab numbers) and the Deepwater Horizon oil spill").

"Here in the Keys we have not had some of the algae blooms and red tides that you've seen elsewhere, so that's a very positive sign. And we're getting to the end of storm season and that bodes well for the industry."

The Keys are an important area to watch for crab enthusiasts, since more than 60 percent of crabs harvested come from Southwest Florida. Two years ago the state's total catch was a disappointing 2.6 million pounds of claws (a historic average year is around 3) and last year was hardly better at 2.7 million pounds.

Read the full story from the Tampa Bay Times

 

October 15, 2014 — Dock owners say they have done what they could to keep prices at a fair rate, but that the market overall is causing low prices.

Battered by squalls that tore across the Louisiana coast Monday, Ronnie Anderson of Montegut kept his 60-foot trawler steady in waters south of the Atchafalaya River.

Anderson, a veteran fisherman, counted his blessings for safety through the storms and for what have been good catches of white shrimp.

But like other local shrimpers, Anderson is still dismayed by what he said are the lowest prices in a while.  

“God has been good to us,” he said. “We have been blessed with what’s turned out to be a good season.”

Rene LeBreton, a spokeswoman for the Louisiana Department of Wildlife and Fisheries, said it’s too early to supply numbers on the shrimp catch for this season.

“We are usually a few months behind on the numbers because we spend so much time on our protocols,” she said.

The season, which began in August, is expected to run through mid-December.

Between now and then, Anderson and other fishermen are hoping for a break in price, however.

Read the full story from The Tri-Parish Times

 

 

October 13, 2014 — The Buyers And Sellers Exchange (BASE), an electronic auctioning company that sells landings at owner Whaling City Seafood Display Auction in New Bedford, Boston’s Whaling City Auction, and Gloucester’s Whaling City Auction, handled 62,600 pounds of fish and 27,600 pounds of scallops Thursday.

Top species landed and average prices were:

Scallops, 30 to 40 Channel: 22,300 pounds ($12.33)
Skate wings: 9,700 pounds ($1.02)
Jig scrod haddock: 7,600 pounds ($2.17)
Scallops, 10 to 20 Channel: 4,600 pounds ($15.25)

Read the full story at the Gloucester Daily Times

October 14, 2014 — Bumble Bee Seafoods LLC has attracted bids from companies including Mitsubishi Corp. (8058) and Post Holdings Inc. (POST) as its private-equity owner begins an auction of the tuna brand, people familiar with the matter said.

Lion Capital LLP, which acquired Bumble Bee from Centre Partners Management LLC in 2010 for $980 million, is seeking more than $1.5 billion for the business, said the people, who asked not to be named because discussions are private. About 12 consumer-products companies and private-equity firms expressed interest before today’s deadline for first-round bids, the people said, though it isn’t clear how many entered bids.

Thai Union Frozen Products Pcl (TUF), which owns competitor Chicken of the Sea, has submitted a bid, the people said. Hormel Foods Corp. (HRL) has also expressed interest in Bumble Bee and could end up bidding for the company, one of the people said. Bumble Bee, founded in 1899, is generating interest because food producers are trying to offer more protein options, said Kenneth Shea, an analyst with Bloomberg Intelligence.

“Protein is hot,” Shea said in a phone interview. “The scarcity of good brands could put Bumble Bee in demand.”

Thai Union shares rose as much as 2.8 percent in Bangkok, the most in more than a month. Mitsubishi fell 2.6 percent in Tokyo.

Read the full story at Bloomberg