Saving Seafood

Retail sector’s US seafood sales plunge as inflation continues to bite

June 14, 2022 — U.S. grocery stores’ fresh and frozen seafood sales continued to decline in May, primarily due to inflation in the category and across the store. However, shelf-stable seafood sales continued to rise, according to new data from IRI and 210 Analytics

Fresh seafood sales dropped 13.2 percent in value to USD 618 million (EUR 593 million), while sales by volume plunged 22 percent compared to May 2021. Frozen seafood sales fell 5.6 percent to USD 643 million (EUR 617 million) in the month, while sales by volume declined 14.6 percent.

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UK seafood sales drop on record inflation

April 28, 2022 — Seafood sales in grocery stores in the United Kingdom dropped 8.3 percent for the quarter ending 20 March, primarily due to the impacts of price increases caused by inflation, according to research firm Kantar.

However, retail seafood sales are holding strong versus meat and poultry, and were up 5.6 percent versus the same quarter in 2021.

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COVID, inflation triggering upheaval in European seafood marketplace

April 27, 2022 — New seafood trends are emerging from the COVID-19 pandemic and rapidly rising inflation in Europe, according to a panel of industry leaders and policymakers at the 2022 Seafood Expo Global in Barcelona, Spain on Tuesday, 26 April.

The pandemic has upended Europe’s seafood marketplace, and rising inflation has been exacerbated by Russia’s invasion of Ukraine, according to Auden Lem, the deputy director of the United Nations Food and Agriculture Organization’s Fisheries Division.

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Inflation dragging down UK grocery, seafood sales

March 30, 2022 — Rising inflation is having an impact on grocery sales in the United Kingdom, which dropped 6.3 percent in the first quarter of 2022, according to new data. Fresh seafood sales are also falling due to higher prices.

Grocery inflation reached 4.2 percent for the 12-week period ending 20 March, its highest level since April 2012, Kantar said in a press release.

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National Fisheries Institute Statement on Reinstatement of Tariff Exclusions

March 24, 2022 — The following was released by the National Fisheries Institute:

The National Fisheries Institute (NFI) is pleased to have helped lead the effort to reduce costs for its members and promote free and fair trade through the reduction of tariffs.

The U.S. Trade Representative’s decision to reinstate previously expired exclusions on fisheries products will not only benefit American workers throughout the seafood value chain but also will help make the healthiest animal protein on the planet more available and affordable. This is ultimately a tax cut for American families, at a time of significant supply chain and inflationary challenges.

NFI continues to advocate for responsible trade policies that directly benefit American seafood workers and the American consumers who depend on those workers for a reliable supply of nutritious seafood.

Robert DeHaan
Vice President, Government Affairs
National Fisheries Institute

Inflation eating away at US retail seafood sales

March 22, 2022 — Retail seafood sales have dropped thus far in 2022, according to new data, with inflation playing a key role in the decline.

Fresh seafood prices surged an average of 10.9 percent in February 2022 versus last February, according to IRI and 210 Analytics. Fresh finfish saw the biggest average price increase, up 18.9 percent to reach USD 9.09 (EUR 8.24) per unit on average, while fresh shellfish had the lowest price hike across all seafood, at 2 percent per unit.

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SENA keynote economist Megan Greene breaks down inflation, Russia concerns

March 22, 2022 — Megan Greene, a senior fellow at the Mossavar-Rahmani Center for Business at the Harvard Kennedy School, delivered the keynote address at Seafood Expo North America/Seafood Processing North America on 13 March, 2022.

Greene said with COVID-19, supply chain disruptions, and the economic ramifications of Russia’s invasion of Ukraine – and subsequent sanctions issued by numerous countries – uncertainty has been the rule.

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Inflation dampens US retail seafood sales in January

February 14, 2022 — Increasing inflation and spiking seafood prices hampered the category’s U.S. retail sales in January.

Fresh seafood prices soared 10.8 percent year-over-year in January to USD 8.92 (EUR 7.89) per unit on average, according to new data from IRI and 210 Analytics, led by a 17.2 percent hike in finfish prices. Frozen seafood prices jumped 10.2 percent to USD 9.94 (EUR 8.79) per unit on average, while ambient seafood prices rose 7.2 percent to USD 2.01 (EUR 1.78) per unit compared to 2021.

Read the full story at SeafoodSource