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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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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April 11, 2022 — Record-high inflation impacted U.S. fresh seafood sales in March, but frozen and shelf-stable sales spiked.
The results are partially the result of public concern about the impacts of rising inflation, polling found. But Americans are now much less concerned about COVID-19, a potential boon to the foodservice sector.
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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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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
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.
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.
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.
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February 1, 2022 — Inflation is expected to be a major issue impacting the food industry this year, but will hurt the seafood sector less than others, according to executives at Santa Monica Seafood and Steve Connolly Seafood.
A Reuters quarterly survey of more than 500 economists conducted in January, resulted in a general consensus that 2022 will bring with it higher inflation. Economists also reduced their global growth forecasts to 4.3 percent growth in 2022, down from the 4.5 percent predicted in October, in part because of steeper interest rates and higher costs of living.
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