Saving Seafood

Farmed salmon spot prices drop further, but tight supply predicted

June 25, 2019 — Spot prices for Norwegian farmed salmon continue to come down, according to the latest update from SpareBank 1 Markets’ Tore Tonseth, though he is more bullish on the longer-term outlook.

For this week coming — week 26 of 2019 — should see average prices come down to NOK 54-57 per kilogram, from NOK 59-62/kg, he wrote.

“Spot prices going into a new week seem to have fallen further, and we are currently talking about prices in the NOK mid-50s. The large volatility in price seen over the past few weeks has probably created some uncertainty in the market, and combined with higher volumes, the spot price has been pushed further down.”

Predicting salmon prices from one week to the next is difficult at the moment, he said, but biomass numbers in Norway show very little harvest growth potential in the coming few months.

“Our base case continues to be spot prices in the low-mid NOK 60s in the next two or three months, which means that we expect prices to recover relatively soon.”

Read the full story at Undercurrent News

10 nations to jointly study marine resources of the Arctic

June 19, 2019 — A two-day conference of scientific experts from Russia, the United States, Canada, Denmark, Norway, South Korea, China, Sweden, Japan, and the European Union in the Russian city of Arkhangelsk resulted in an agreement to conduct more research on Arctic fisheries.

The April meeting was the first after an agreement between the 10 countries was signed in October of last year. The legally binding accord prohibits all commercial fishing in the Central Arctic until the nations additional surveys of stocks, their sizes, and how the region’s ecosystems operate. The agreement also included a draft of a joint research plan, with details to be discussed later this year and with implemented stalled until all the participating states ratify the agreement.

There is almost no data on high Arctic stocks, as nearly all the Arctic countries have only surveyed their own 200-mile exclusive economic zones. The only known study of the high seas was conducted by scientists from the Stockholm University. Its results presented at the conference brought some surprise and made it clear that more extensive research is needed, according to Vasily Sokolov, deputy head of the Russia’s Federal Agency for Fisheries.

“The Arctic Ocean was supposed to contain no great marine biological resources to be of interest for commercial fisheries. But it turned out that stocks of Arctic cod seem to be there, which means that fishing there may be commercially attractive,” Sokolov said. “The density of stocks increases toward the polar cap.”

Read the full story at Seafood Source

Norway’s deadly algae bloom may be waning, government says

June 3, 2019 — A deadly algae bloom that has killed nearly eight million Atlantic salmon being farmed in northern Norway appears to be dispersing, according to the Norwegian Directorate of Fisheries.

The bloom, first reported in mid-May, has killed 3.8 million farmed salmon in the Nordland area, the equivalent of 6,400 metric tons, and four million salmon in Troms, or 6,820 metric tons, according to Norway’s Fiskeridirektoratet. Affected companies include Ballangen Sjøfarm, Ellingsen Seafood, Mortenlaks, and Nordlaks in Nordland and South Rollerfish, Northern Lights Salmon, Kleiva Fish Farm, Gratanglaks, Nordlaks, and Salaks in Troms.

“It may seem that blooming is on the way down. Generally lower numbers of algae are recorded, the cells are smaller in size and there are observations suggesting that the bloom/species is less harmful,” the directorate wrote in a 2 June update. “As reported in recent days, there have been high concentrations of algae without causing fish to die. It may happen that the algae bloom up again in smaller areas.”

Many salmon-farming companies in northern Norway have transferred their fish to locations less likely to be affected by the algae bloom. Cermaq, Nordlaks, Ellingsen Seafood, and Nordnorsk Stamfisk have moved fish and broodstock out of Nordland, while Lerøy had issued a notice that it was considering moving fish out of Troms, but delayed its decision as local water conditions improved.

Read the full story at Seafood Source

Maine’s Atlantic salmon prognosis remains grim despite all-time low harvest and more adult returns to North American rivers

May 31, 2019 — On Thursday, as national delegations prepare to meet in Norway to discuss Atlantic salmon conservation, there’s a mixed bag of news for those who are passionate about salmon and salmon angling.

The headline on an Atlantic Salmon Federation press release, in fact, sounds downright cheery, as it announces that harvest of the fish in the North Atlantic is at an all-time low, and adult returns to North American rivers increased from 2017 to 2018.

That’s the attitude the ASF is taking heading into the annual meeting of the North Atlantic Salmon Conservation Organization, at least.

In an accompanying report, “State of the North American Atlantic Salmon Populations,” a more sober picture begins to emerge.

According to that report, salmon returns to U.S. rivers in 2018 met only 3 percent of the conservation limit for fish that had spent two winters at sea. And what’s a “conservation limit?” That’s defined as the number of spawning adults below which populations are unable to sustain themselves, and begin to decline.

And that pretty much defines the Atlantic salmon situation here in Maine; the fish is listed under the federal Endangered Species Act. Fishing for Atlantic salmon here is not allowed, and the population that does exist is almost entirely dependent on the annual stocking of hundreds of thousands of hatchery fish.

In 2018, according to the ASF, the Penobscot had 480 large salmon and 289 small salmon return. That run of 769 fish was lower than 2017’s 849 returning salmon.

Read the full story at the Bangor Daily News

Millions of Salmon in Norway Killed by Algae Bloom

May 24, 2019 — About eight million farmed salmon have suffocated in northern Norway over the past week as a result of persistent algae bloom, an industry body estimated on Thursday, a blight that some experts suggest has been aggravated by climate change.

Norway is a dominant producer of farmed salmon, and the economic impact of the bloom is significant.

A statement from the Norwegian Directorate of Fisheries estimated the amount of salmon lost at 11,600 metric tons, worth about 720 million kroner, or more than $82 million. An industry group, the Norwegian Seafood Council, suggested the total could be much higher.

“Preliminary numbers point to eight million dead fish — corresponding to 40,000 metric tons of salmon that won’t reach markets,” Dag Sorli, a spokesman for the council, said in an email on Thursday. He put the value of the losses at 2.2 billion kroner.

Read the full story at The New York Times

Algae bloom in northern Norway resulting in salmon mortalities

May 20, 2019 — The aquaculture sector in northern Norway is being hit hard by an algae bloom, according to a 16 May statement from Norway’s Directorate of Fisheries.

The algae bloom is affecting the waters between Nordland and south of Troms, an area of about 450 kilometers of coastline.

“Dead fish are registered at some sites, some hit harder than others. This is a serious situation and a significant number of fish have died,” the statement said.

The directorate did not supply a list of the companies or farms affected or the amount of mortalities reported. It said it would report a mortality figure “when such an overview is available.”

The operators of aquaculture sites in the area “are in close dialogue” with the directorate and “are continuously implementing necessary measures.”

Read the full story at Seafood Source

Rabobank: Global seafood trade now worth USD 153 billion

May 7, 2019 — Seafood is one of the world’s most important food commodities and the trade continues to grow in line with rising demand and supply, but the dynamics of that trade are likely to change in the coming years, according to a new seafood trade map and report compiled by Rabobank International.

With an estimated traded value of USD 153 billion (EUR 136.5 billion) in 2017, increasing by a compound annual growth rate (CAGR) of 4 percent in the five-year period 2012-2017, the global seafood trade has been led by value growth rather than increased volumes. As Rabobank’s “World Seafood Map 2019” finds, the largest trade flow in value terms is still from Norway to the E.U., mainly consisting of salmon and some whitefish. This is followed by trade flows of salmon and crustaceans from Canada, and flows of whitefish and crustaceans from China to the U.S. market.

Rabobank Analyst Behyhan de Jong, who compiled the map, told SeafoodSource that in 2013, the average price of salmon in Norway was NOK 40 (USD 4.60, EUR 4.11) per kilogram, but this had increased by 50 percent to a level of NOK 60 (USD 6.91, EUR 6.16) in 2018. Meanwhile, the supply growth of shrimp has led to decreased prices, however, increased exports, “particularly from India and Ecuador,” have driven an increased crustacean trade globally, added de Jong.

Underpinned by the importance of localized production and the rising global demand for products, Rabobank expects seafood to maintain its standing as one of the most traded food commodities. Processing and re-exports are also important contributors to the traded volumes.

Read the full story at Seafood Source

US companies file class-action suit alleging price-fixing by Norwegian farmed salmon firms

April 25, 2019 — A class-action lawsuit filed on behalf of U.S. direct purchasers of Norwegian farmed salmon is accusing multiple Norwegian firms including Mowi, Grieg Seafood, Lerøy Seafood, and SalMar of conspiring to fix the prices of farmed salmon.

The lawsuit, filed on Tuesday, 23 April, alleges the major players in Norway’s farmed salmon industry exchanged competitively sensitive information among themselves, with the aim of artificially controlling the price of farm-raised salmon bought by U.S. seafood buyers, a violation of the Sherman Anti-Trust Act.

The lawsuit is largely based on an ongoing investigation by the European Commission into “suspected anti-competitive practices” in the farmed Atlantic salmon sector in Europe, first made public in February 2019. The investigation included raids by E.C. officials of the Scottish and Dutch corporate offices of several seafood companies based in Norway, including Mowi, Grieg Seafood, Lerøy Seafood, and SalMar.

A letter sent by the E.C. to one of the companies, obtained by SeafoodSource, revealed the E.C. approved a decision on 6 February, 2019, to investigate information received “from different actors operating at different levels in the salmon market” alleging that some Norwegian producers “participate or have participated in anti-competitive agreements and/or concerted practices related to different ways of price coordination in order to sustain and possibly increase prices of farmed Norwegian Atlantic salmon.”

The lawsuit was filed in U.S. District Court in the Southern District of Florida (Miami Division) on behalf of Mentor, Ohio-based Euclid Fish Company, according to Arthur Bailey of Hausfeld LLP, one of the plaintiffs’ attorneys. Numerous other similar suits have and will continue to be filed containing similar allegations, including by Schneider’s Seafood & Meats of Cheektowaga, New York, and by Euro USA Inc. of Cleveland, Ohio, Bailey told SeafoodSource. Within the next month, the cases will be combined into one larger class-action suit including all direct purchasers of Norwegian farmed salmon, Bailey said. The case will be heard by James Lawrence King.

Read the full story at Seafood Source

Norwegian Seafood Council rep: Industry must “raise voice” about plant-based imitation seafood products

April 8, 2019 — There is a growing appetite among younger consumers, particularly millennials, for food and seafood that has an authentic story to tell, according to the Norwegian Seafood Council (NSC), which has been working directly with American consumers in recent years – through various focus groups – to understand what drives and deters modern seafood purchasing.

With the primary aim of helping Norwegian fisheries and the country’s aquaculture industry to develop new markets, NSC has been keeping a pulse on the consumption trends dominating in the United States, and has found that when it comes to seafood and other proteins, a good origin story can go a long way.

“Origin matters for the end-consumers,” Egil Ove Sundheim, the U.S. director of NSC, explained to SeafoodSource.

This seems especially so for millennials, the generation responsible for overhauling the ways in which food and mealtimes are experienced, and the demographic set to acquire the majority of purchasing power within the next decade, Sundheim said.

“In five, seven, 10 years, [millennials] will be the most important purchasers of food, as they start to build families,” he said.

Read the full story at Seafood Source

Record first-quarter revenues for Norway’s seafood exporters, but volume plummets

April 4, 2019 — Norway exported 640,000 metric tons (MT) of fisheries and aquaculture products worth a record NOK 25.6 billion (USD 3 billion, EUR 2.7 billion) in the first quarter of this year. While the volume represented a decline of 18 percent, the value was 7 percent or NOK 1.8 billion (USD 210.6 million, EUR 187.3 million), higher than in the corresponding period of 2018.

The Norwegian Seafood Council (NSC) highlighted that the volume drop would be just 2 percent if the pelagic category is excluded from the statistics.

“The volume decline in the pelagic category is due to lack of capelin this year, in addition to delays in the reporting of blue whiting from direct landings abroad,” Paul Aandahl, analyst with the NSC, said.

Fellow NSC analyst Ingrid Pettersen confirmed that the value of seafood exports in the first quarter reached a record high, and this was mainly driven by increased prices for some of the country’s most important species.

“There are good, stable market conditions, increased demand in our key markets, and a weak Norwegian kroner against both the U.S. dollar and the euro sets a record price for seafood exports,” she said.

The Scandinavian country exported 247,000 MT of salmon with a value of NOK 16.7 billion (USD 2 billion, EUR 1.7 billion) in Q1 2019, with the volume and value up 1 percent and 7 percent respectively year-on-year. The average price for fresh whole salmon through the quarter was NOK 68.78 (USD 8.05, EUR 7.16) per kilogram, up from NOK 67.45 (USD 7.89, EUR 7.02).

Read the full story at Seafood Source