May 10, 2022 — Rising seafood prices and consumer concerns about overall inflation in the U.S. continued to harm fresh seafood sales in April, according to new data.
However, frozen seafood sales rose 2.8 percent and shelf-stable seafood sales jumped 9.6 percent for the month, compared to April 2021, according to IRI and 210 Analytics.
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March 31, 2022 — The worldwide seafood industry is steeling itself for price hikes, supply disruptions and potential job losses as new rounds of economic sanctions on Russia make key species such as cod and crab harder to come by.
The latest round of U.S. attempts to punish Russia for the invasion of Ukraine includes bans on imports of seafood, alcohol and diamonds. The U.S. is also stripping “most favored nation status” from Russia. Nations around the world are taking similar steps.
Russia is one of the largest producers of seafood in the world, and was the fifth-largest producer of wild-caught fish, according to a 2020 report by the Food and Agriculture Organization of the United Nations. Russia is not one of the biggest exporters of seafood to the U.S., but it’s a world leader in exports of cod (the preference for fish and chips in the U.S.). It’s also a major supplier of crabs and Alaska pollock, widely used in fast-food sandwiches and processed products like fish sticks.
The impact is likely to be felt globally, as well as in places with working waterfronts. One of those is Maine, where more than $50 million in seafood products from Russia passed through Portland in 2021, according to federal statistics.
March 28, 2022 — Gleb Frank, the founder of two of the largest seafood companies in Russia – Vladivostok-based Russian Fishery Company and Russian Crab – has sold his stakes in both companies to top managers after the U.S. decided to impose sanctions on him.
Frank is the son-in-law of Russian business tycoon Gennady Timchencko, allegedly a close partner of Russian President Vladimir Putin and the sixth-richest person in the world.
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March 24, 2022 — International bans on seafood from Russia – including one imposed on imports to the U.S. by U.S. President Joe Biden and similar tariffs by the United Kingdom – are having a mixed impact on foodservice operators and distributors, with some faring better than others.
The impacts boil down to how much seafood a business typically bought from Russia in the past. Unlike some foodservice distributors and operators that rely on Russian pollock, crab, and other seafood, one major North American foodservice distributor said that Russian seafood sanctions will have minimal impact on its business.
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