Saving Seafood

Global shrimp production to surpass 5 million MT in 2022, CP Foods’ Robin McIntosh predicts

January 20, 2022 — Global shrimp production has continued to trend upward, with a panel of experts at the National Fisheries Institute’s Global Seafood Market Conference predicting that global shrimp production will exceed 5 million metric tons (MT) in 2022.

Current predictions put the production at 5.011 million MT in 2022, a significant increase over the 4.569 million MT grown in 2021, which itself was an increase over the 4.086 million MT produced in 2020. Globally, shrimp production has seen a tremendous upswing – in 2015, global shrimp production didn’t even reach 3 million MT.

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“Everyone’s crystal ball is broken” – COVID-19 has scrambled the industry’s ability to plan ahead

January 20, 2022 — Historically, conversations around logistics didn’t always reach the top level of the seafood industry’s decision-making hierarchy, but in the past two years, that has changed.

A Global Seafood Market Conference (GSMC) panel on Tuesday, 18 January, examined how logistics became top-of-mind for seafood executives, and how the COVID-19 pandemic has decimated the industry’s ability to use forecasting for business-planning purposes.

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Seafood meets grill: GSMC analysts pick top 2022 trends

January 19, 2022 — Fresh and frozen seafood hit record sales in 2021, and analysts speaking at the National Fisheries Institute’s Global Seafood Market Conference (GSMC) in Orlando, Florida, U.S.A. on Tuesday, 18 January expect the positive sales trend to continue.

The frozen seafood category realized “amazing numbers” last year, IRI Senior Vice President Protein Practice Chris DuBois said, as sales rose 2.8 percent compared to 2020 and 40.8 percent versus 2019 to USD 7.2 billion (EUR 6.3 billion).

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Biden’s early days show new tack on trade, but little chance of China tariff removal

April 23, 2021 — As the administration of U.S. President Joe Biden approaches its one-hundredth day in charge, its early actions are laying the groundwork for the country’s stance on trade.

Speaking during a National Fisheries Institute Global Seafood Market Conference webinar covering the first 100 days of the Biden administration, NFI Vice President for Government Affairs Robert DeHaan predicted the new administration will likely take a different tack than that of former U.S. President Donald Trump. SeafoodSource is providing exclusive coverage of the GSMC webinar series, which will be providing market-focused content throughout 2021.

Read the full story at Seafood Source

Record-high king crab prices not slowing retail sales

February 19, 2021 — Crab sales at U.S. retailers have hit record highs, with the category as a whole up over 60 percent, and king crab has been buoyed by the surge.

Customers at the retail level are buying record numbers of king crab, according to Michael Kotok, the president of Buffalo, New York, U.S.A.-based Arctic Fisheries. Kotok was speaking during the National Fisheries Institute’s Global Seafood Market Conference webinar series; SeafoodSource is providing exclusive coverage of the GSMC webinar series, which will be providing exclusive market-focused content throughout 2021.

Read the full story at Seafood Source

Demand up, supply down in blue and red swimming crab market

February 18, 2021 — The impacts of the COVID-19 pandemic on the blue and red swimming crab market are ongoing, and have combined to make the industry a more complicated prospect for importers.

Chicken of the Sea Vice President and National Fisheries Institute (NFI) Crab Council Executive Robert Kragh – speaking during NFI’s Global Seafood Market Conference webinar series – said the impacts of COVID-19 on the market were immediate from a producer perspective. SeafoodSource is providing exclusive coverage of the GSMC webinar series, which will be providing exclusive market-focused content throughout 2021.

Read the full story at Seafood Source

Post-COVID recovery could see spate of seafood company mergers and acquisitions

February 11, 2021 — When the world begins to recover from the COVID-19 pandemic, some prominent seafood executives are predicting a busy period of mergers and acquisitions.

Speaking during the National Fisheries Institute’s 2021 Global Seafood Market Conference’s economic outlook panel, seafood company advisors and CEOs said they expect a combination of factors will lead to increased M&A activity. As companies begin to see a turnaround from the COVID-19-related economic downturn, access to cheap financing could spur companies to look for new opportunities, according to Antarctica Advisors LLC Managing Partner Ignacio Kleiman.

Read the full story at Seafood Source

Glenn Cooke, Ian Smith offer timeline for COVID-19 foodservice recovery

February 9, 2021 — The global COVID-19 pandemic has been a mixed bag for the seafood industry, with retailers notching record seafood sales and the category as a whole seeing gains, even as the foodservice industry virtually collapsed.

That downturn is expected to change direction this year, with foodservice operators optimistic about 2021. Seafood company CEOs and advisors, speaking during the National Fisheries Institute’s Global Seafood Market Conference’s economic outlook panel, also expressed optimism about the industry’s recovery. While in the short-term the rebound may be slight, as trend experts have predicted, once relative normalcy returns demand could see a big boost.

Read the full story at Seafood Source

New NFI Chair Highlights Market Data and Expert Insights Available at Virtual GSMC

January 25, 2021 — The following was released by the National Fisheries Institute:

The President and CEO of Seattle Fish Co., Derek Figueroa, is the new Chair of the National Fisheries Institute. Figueroa helms the Denver-based seafood distributor that boasts more than a hundred years in business.

“Seattle Fish has a legacy of using technology and engagement to do more in the seafood space,” said Figueroa. “In 1918 this company created a cold chain system that used rail cars, sawdust and ice to transport fresh seafood to the landlocked state of Colorado. We were getting customers what they needed. That’s what NFI is doing with the Virtual Global Seafood Market Conference. We can’t meet in person, but the industry needs the data and insight we’ve come to rely on from GSMC. So we’re doing it virtually.”

The Virtual Global Seafood Market Conference runs from February 1st to the 5th for two hours each day. The GSMC Webinar Series lasts all year with biweekly offerings providing species-specific data and markets focused dialogue. Attendees can register for the GSMC Bundle package here.

Virtual GSMC will feature plenary presentations and sessions on Retail, Food Service, the Economy, Alternative Proteins and more. Keynote speakers from IRI, 210 Analytics, Datassentail, CattleFax, Urner Barry, Rabobank, and Wells Fargo will detail market shocks and recovery timelines. The program will also feature C-suite perspectives from leaders in retailer and foodservice, as well as an address from the man who knows a thing or two about pivoting, Bo Jackson.

As part of his just released video message, Figueroa notes the benefits of a virtual conference and webinar series include the fact that producers recognize, during a pandemic, things change by the “week, by the day, even by the minute.”

Derek Figueroa will address the Virtual GSMC on Friday February 5th with his state of the industry address.

NFI gearing up for virtual Global Seafood Market Conference, webinar series

January 19, 2021 — The National Fisheries Institute (NFI) has launched a webinar series intended to provide analysis of the latest trends affecting the global seafood industry.

The largest U.S. seafood trade group began hosting biweekly Global Seafood Market Conference (GSMC) webinars last week, with a focus on the global shrimp trade, which like most seafood categories, experienced wild fluctuations as a result of the COVID-19 pandemic. SeafoodSource is providing exclusive coverage of the GSMC Webinar series, which will be providing comprehensive market content throughout 2021.

Read the full story at Seafood Source