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May 17 - ANALYSIS: Markets Moving, Soaring Higher in Some Cases


May 14 - ANALYSIS: The Rise of Pangasius, Again


May 7 - ANALYSIS: Lobster Prices Higher Than Normal Ahead of Mother's Day


May 7 - ANALYSIS: Tilapia Imports Drop 47%


May 5 - ANALYSIS: March Shrimp Imports Surge Against Low 2020


May 3 - ANALYSIS: Growing Market Share for Tilapia and Pangasius


Apr 30 - ANALYSIS: European Summer Seafood Trade and the Absence of Chinese Tourists


Apr 29 - ANALYSIS: Ramadan Brings New Supply Constraints to Crab Meat Market


Apr 26 - ANALYSIS: Gulf of Mexico Shrimp Landings 32 Percent Higher in Q1


Apr 26 - ANALYSIS: Snow Crab Update; Pricing in Record Territory


Apr 23 - ANALYSIS: U10 Scallop Prices Almost $20 Higher than Last Year


Apr 21 - ANALYSIS: Strong Demand, Constrained Supply for Frozen Tuna


Apr 20 - ANALYSIS: Blue Swimming Crab Meat Prices Soar; Up 34 Percent from Beginning of the Year


Apr 19 - ANALYSIS: Commodity Prices Surging Higher; Is This the Next Supercycle?


Apr 19 - ANALYSIS: Strength in Shrimp Market Accelerating, Demand Robust and Supply Constrained


Apr 16 - ANALYSIS: Supply Speculation Continues to Influence the Argentine Red Shrimp Market


Apr 16 - ANALYSIS: Tilapia Pricing at Record Highs


Apr 15 - ANALYSIS: Frozen Lobster Products Ascend into Record-High Territory


Apr 9 - ANALYSIS: Pangasius YTD Imports Highest Since 2017


Apr 1 - ANALYSIS: Alaskan Pollock Blocks - Record High Prices, Continued Strain on Supply


Mar 30 - ANALYSIS: Supply Situation for Blue Swimming Crab Meat Market Remains Strained


Mar 22 - ANALYSIS: King Crab Pricing at All-time Highs


Mar 16 - ANALYSIS: Fresh Imported Seafood: Supply Constraints Amid Foodservice Recovery


Mar 12 - ANALYSIS: Pangasius YTD Imports Highest Since 2017


Mar 12 - ANALYSIS: Cooked and Peeled Coldwater Shrimp: Tough Nut To Crack


Mar 12 - ANALYSIS: Salmon Market Marches Onward and Upward


Mar 8 - ANALYSIS: January Shrimp Imports Start 2021 Strong


Mar 8 - ANALYSIS: U.S. Snow Crab Buyers May Have Options To Feed Hungry Market


Mar 5 - ANALYSIS: Octopus Prices Firm Amid Supply Issues


Feb 23 - ANALYSIS: Lobster Prices Firm as Industry Faces Supply Shortage


Feb 22 - ANALYSIS: Pangasius Imports Gain 10 Million Pounds in 2020


Feb 22 - ANALYSIS: Crab Meat Prices Continue to Rise Amid Low Inventories


Feb 12 - ANALYSIS: Aquaculture Review: Tilapia Strengthening Amid Catfish and Pangasius Stagnation


Feb 11 - ANALYSIS: Bangladesh’s Black Tiger Shrimp Farmers Continue to Face Market Shortcomings


Feb 8 - ANALYSIS: December Shrimp Imports Move Higher Again to Another Annual Record


Feb 5 - ANALYSIS: Spanish Octopus Prices on the Rise Despite Foodservice Fallout


Feb 2 - ANALYSIS: Cooler Water Temperatures Lead to Slow Start for Mahi Season


Feb 2 - ANALYSIS: Tilapia Imports Highest in 3 Years, Prices Highest in 6 Years


Jan 25 - ANALYSIS: Lobster Exports to China Continue Upward Trend; Total Exports Trail 2019 Levels


Jan 25 - ANALYSIS: Pangasius Imports Skyrocket 122 Percent


Jan 21 - ANALYSIS: King Crab Market Firm as Demand Outweighs Supply


Jan 18 - ANALYSIS: As The World Turns for Farmed Salmon…


Jan 15 - ANALYSIS: China Bay Scallop Imports Continue Downwards Trend


Jan 11 - ANALYSIS: Scallop Imports Lead over LY during Pandemic


Jan 8 - ANALYSIS: November Shrimp Imports Ease Slightly From Last Year


Jan 4 - ANALYSIS: Haddock Market Strengthening amid Tariff Exemption Expiration


Dec 18 - ANALYSIS: Farmed Salmon Market Continues to See Upward Pricing Pressure


Dec 15 - ANALYSIS: Mussel Prices Weaken, Imports Fall


Dec 8 - ANALYSIS: Tilapia Imports Highest Since 2016


Dec 8 - UB Consulting: Multi-year Low Retail Ad Prices for Atlantic Salmon


Dec 7 - ANALYSIS: Live Lobster Market Unsettled as Canadian Fishing Season Begins


Dec 7 - ANALYSIS: October Shrimp Imports Second Highest Ever (Again)


Dec 7 - ANALYSIS: COVID-19 Leads to Atypical Start to December for Norwegian Whole Salmon


Dec 3 - ANALYSIS: Scallop Market Firms Amid Tightening Restrictions


Nov 25 - ANALYSIS: Pass the Salmon for Thanksgiving 2020


Nov 24 - ANALYSIS: Availability of Wild-Caught U.S. Shrimp Critically Low


Nov 23 - ANALYSIS: Blue Swimming Crab Meat Market Remains Firm


Nov 20 - ANALYSIS: Opposing Pressure within the Tilapia Market


Nov 16 - ANALYSIS: Number of Salmon Promotions at Retail on Pace with 2019; Fresh Market Ends the Week Mixed


Nov 10 - ANALYSIS: September Pangasius and Catfish Imports Surge Over 2019


Nov 9 - ANALYSIS: Russia Increases its Market Share for Snow Crab; YTD Imports Up 96.4 Percent


Nov 6 - ANALYSIS: Tilapia Imports Reign Over 2019 Across All Categories


Nov 5 - ANALYSIS: Lobster Imports Sharply Lower in Sept.; Dragged Down by Decline in Shipments from Canada


Nov 5 - ANALYSIS: September Shrimp Imports Second Highest on Record


Nov 2 - ANALYSIS: Farmed Salmon Retail Promotions Up; Average Price at Retail Down


Oct 26 - ANALYSIS: Early Look at Stone Crab as Shortened Season Begins


Oct 26 - ANALYSIS: Frozen Salmon Fillets at All-time Lows


Oct 23 - ANALYSIS: Downwards Pressure on the Mussel Market


Oct 19 - ANALYSIS: King Crab Demand Improving During Pandemic


Oct 16 - ANALYSIS: Pangasius Imports Flat, YTD totals Retreat


Oct 7 - ANALYSIS: Brazil Lobster Tail Market Reset


Oct 7 - ANALYSIS: August Shrimp Imports Set All-Time Record


Oct 2 - ANALYSIS: Scallop Market Rallies into Q4


Oct 1 - ANALYSIS: Demand Picks Up for Larger Grades of Blue Swimming Crab Meat


Sep 25 - ANALYSIS: Hard Shell Lobster Inventory Low Throughout Industry


Sep 21 - ANALYSIS: Russian Snow Crab Pricing, Market Share Continues to Climb


Sep 21 - ANALYSIS: EU Frozen Shrimp Imports Down Year-on-Year


Sep 8 - ANALYSIS: Overall King Crab Imports Down 5.4%; 9-12 Russian Reds at 52-Week High


Sep 4 - ANALYSIS: July Shrimp Imports Higher By Double Digits


Sep 1 - ANALYSIS: Chilean Truck Strike Continues into Day 5; Salmon Market Undertone Full Steady to Firm


Sep 1 - ANALYSIS: Orange Roughy Demands Premium


Aug 17 - ANALYSIS: Farmed Salmon Market Continues to Show Weakness


Aug 14 - ANALYSIS: Imported Scallops Seeing Competition from Domestic Supply


Aug 7 - ANALYSIS: June Snow Crab Imports Significantly Higher Than Cyclical Behavior; Up 47% From June 2019


Jul 30 - ANALYSIS: Cod Market Unsettled


Jul 17 - ANALYSIS: Tilapia Tariff Exemption Coming to End


Jul 13 - ANALYSIS: Farmed Salmon Taking a Hit as COVID-19 Cases Increase Around the Country


Jul 13 - ANALYSIS: Frozen Tuna Imports Decline 31% in May


Jul 10 - ANALYSIS: European Imports of Frozen Shrimp Dip in April as Quarantine Issues Linger


Jul 9 - ANALYSIS: Pangasius - Below Average Imports, Optimistic Outlook


Jul 8 - ANALYSIS: Snow Crab Entering U.S. Market Right Along With 3-Year Average


Jul 2 - ANALYSIS: May Shrimp Imports Decline 29.4 Percent


Jun 26 - ANALYSIS: Spanish Octopus Holds Premium Amid Lackluster Sales


Jun 25 - ANALYSIS: Pricing For Snow Crab Above Year-to-Date Levels


Jun 23 - ANALYSIS: Imports of Shrimp Products from Saudi Arabia Spike


Jun 15 - ANALYSIS: Fresh Seafood Imports Continue Decline in April


Jun 12 - ANALYSIS: Tilapia Imports Rebound 98% in April


Jun 11 - ANALYSIS: Canadian Snow Crab Prices Rise with Imports Trailing 3-Year Average


Jun 5 - ANALYSIS: April Shrimp Imports Increase 6.2 Percent


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ANALYSIS: Markets Moving, Soaring Higher in Some Cases

With markets closing this week, on the seafood side, we saw some significantly higher adjustments and also some still considerably higher offers and sales, leaving most markets full steady to firm heading into the weekend.  

The farmed salmon market is now joining the club for tight supplies and an active to robust demand. Looking back, the index for most of April adjusted lower with both coasts of Canada seeing ample supply situations while the Chilean and the European markets saw increasingly tighter supply scenarios...

Full Story »

ANALYSIS: The Rise of Pangasius, Again

U.S. wholesale prices for striped pangasius frozen fillets imported from Vietnam continues to trend higher, reversing the downhill trend seen within the market since 2018. The initial market rise was largely due to a regulation shift in September of 2017 from the FDA to the USDA resulting in rising raw material and administrative costs, and lengthy delays from new and in-depth inspection processes resulting in record high wholesale and replacement prices. This time around the market is facing new challenges.

Supply in the U.S. is...

Full Story »

ANALYSIS: Tilapia Imports Drop 47%

Imports of frozen tilapia fillets fell from the previous month, as seasonally expected due to interruptions from the Chinese New Year holiday, by 47 percent. March 2021 recorded 10.6 million pounds of volume with an approximate value of 19.1 million dollars. Despite recording higher volume than the same month a year ago when the pandemic was just shutting down the U.S., prior to that, 2021 was the lowest March on record since 2008.

On a year-to-date basis, 2021 has imported 54.7 million pounds...

Full Story »

ANALYSIS: Growing Market Share for Tilapia and Pangasius

Year-to-date combined imports of tilapia and pangasius frozen fillets are seeing growing volumes year-over-year since 2019. While tilapia imports for this time period contracted since 2020, pangasius volume saw a resurgence after record lows last year.

In looking at monthly volume, the last four months have seen a dramatic uptick in import volume compared to the rest of 2020. As foodservice and restaurants continue to see growing demand within the United States, logistical issues including higher freight, lengthier...

Full Story »

ANALYSIS: Ramadan Brings New Supply Constraints to Crab Meat Market

The crab meat market continues to soar, but further supply constraints are on the horizon.

Currently the country of Indonesia is celebrating Ramadan, which began on April 12 and concludes May 12. On May 11, the Muslim community will celebrate the festival of Eid al-Fitr, which is also called the “Festival of Breaking the Fast.” This festival, which is typically celebrated for 1-3 days, ends the month-long dawn-to-sunset fasting during the Ramadan observance. 

When it comes to crab meat production...

Full Story »

ANALYSIS: Snow Crab Update; Pricing in Record Territory

And we are off. 

Thursday, April 22, marks the first time in 2021 that Gulf of Saint Lawrence 5-8s were reinstated into the quotations. Within the last 10 years — outside of 2015 and 2019 when the previous season supply of 5-8s ran into the new season — 2021 is the earliest quotations have been reinstated for the Gulf. 

With the ice clear and the opening a bit earlier, Gulf snow crab has made its way into the U.S. market. In addition to...

Full Story »

ANALYSIS: Strong Demand, Constrained Supply for Frozen Tuna

Frozen tuna imports have increased over the years due in large part to the consistent, strong demand from the foodservice sector. Imports peaked in 2019 registering a record 90 million pounds. Not only was the marketable to absorb this influx of supply, but pricing also remained firm, trending above its 5- year average for frozen steaks.

However, as the COVID-19 virus took hold in 2020, and restaurants across the country closed, importers modified their buying decisions. Frozen tuna imports for the year registered 73.3 million pounds...

Full Story »

ANALYSIS: Commodity Prices Surging Higher; Is This the Next Supercycle?

Commodity prices have moved higher coming out of the initial phase of the pandemic with the price trough seen in May 2020. There has been an almost perfect storm of factors that have led to the increase. The first is the major supply chain disruptions that occurred during the COVID-19 pandemic and continues to be felt now. There has also been a massive stimulus response in the United States and many other countries that has injected capital into the...

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ANALYSIS: Supply Speculation Continues to Influence the Argentine Red Shrimp Market 

Hailed as the most profitable fishery in the Argentine Sea, Pleoticus Muelleri (Argentine Red shrimp) demand continues to contend with a mixture of issues. 

While there is a sense of cautious optimism amid an uptick in vaccines, irregularities in global trade remain a concern.  

Normally driven by demand out of southern Europe and the Far East, exporters have had to contend with lacklustre sales amid the closure of foodservice and changes in buying behaviour across key markets. While demand...

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ANALYSIS: Frozen Lobster Products Ascend into Record-High Territory

The market for frozen lobster products has been thrusted into record-high territory given a somewhat unexpected level of demand and a short supply situation that has developed without the benefit of meaningful replacement. 

In 2020, in-and-around the height of the pandemic and coinciding with new season production, frozen lobster tail values fell roughly 25 percent. The levels were now attractive to retailers who gravitated to products that replicated the restaurant experience. This buying resulted in a warm water...

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ANALYSIS: Alaskan Pollock Blocks - Record High Prices, Continued Strain on Supply

The Alaskan pollock market sees continued challenges carryover from the 2020 B season. Last year the industry was not only faced with new operating procedures aboard vessels in the wake of COVID-19, but changing fishing patterns including a smaller, younger class of fish into the fishery as well as fish moving farther into fishing area FAO 61 causing longer travel time and increased fuel costs in the Northwestern part of the Pacific Ocean, all contributing to production slowdowns and supply issues...

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ANALYSIS: King Crab Pricing at All-time Highs 

King crab pricing is currently at all-time highs and many importers and buyers see no end in sight. Even with higher imports the past two months in comparison to previous years, the market is still tight and demand is robust and falling well short of buyers’ full needs.

January imports of king crab, released earlier this month, are lower than December 2020 but continue to be much higher than the same time period last year. In comparison to January 2020, total...

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ANALYSIS: Pangasius YTD Imports Highest Since 2017

Pangasius frozen fillet imports boasted 22.3 million pounds of volume for the first month of the new year, recording a 35.9 percent increase over the previous month and 46.7 percent over January 2020 volumes. January 2021 imports are the highest January on record since 2017, a promising start to an industry eager to grow their market share.

Vietnam is currently the only country exporting...

Full Story »

ANALYSIS: Salmon Market Marches Onward and Upward

After several weeks of lower offers to kick off the Lenten season, the farmed salmon market has rebounded. As of this writing the market is seeing some significant upward pricing pressure across the complex heading into the end of the week.  

Looking at the salmon index, 2021 is now trending above the same time-period in 2020 and approaching the 3-year average; just 3 percent lower. With higher offerings collected thus far across the complex, there is a chance the salmon market will...

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ANALYSIS: U.S. Snow Crab Buyers May Have Options To Feed Hungry Market

The Alaskan snow crab season marches on with 43 percent of the IQF allocation caught and about 22.9 million pounds remaining of the 40.5 million total allowable catch. With Trident’s plant in Akutan, Alaska, now back up and running as of February 23overall processing should be well underway.  

Market participants continue to report that the current U.S. market is starved for snow crab, even with an 80 percent increase in snow crab imports from Russia this year...

Full Story »

ANALYSIS: Lobster Prices Firm as Industry Faces Supply Shortage

The live lobster market is entering a seasonally quiet period following Valentine’s day and the end of Chinese New Year celebrations. Since the beginning of February, there was a frenzy to satisfy the demand for these two events taking place simultaneously.

Alongside Valentine’s Day and Chinese New Year, declining COVID-19 cases and restrictions easing across the U.S. and overseas, market participants reported an uptick in demand from the foodservice sector.

Competition for product from shippers, and the live market has...

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ANALYSIS: Lobster Prices Higher Than Normal Ahead of Mother's Day

The current landscape for the live lobster market looks a lot different than it did a year ago. This time last year, the Canadian spring season was getting underway amid a depressed market. Closed overseas markets, lockdowns, and safety restrictions gave pause to market participants. The uncertainty surrounding the level of demand from the foodservice sector curtailed the amount of product that was landed and processed in the spring. The 2020 Canadian spring shore price by mid-May was in...

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ANALYSIS: March Shrimp Imports Surge Against Low 2020

March shrimp import totals were released today, and as expected blew past last year’s figures given the initial shutdowns that occurred in March 2020. At a little more than 138 million pounds, this was a 21 percent increase from 114.110 million pounds in the same month a year ago. Year-to-date figures are now nearly 10 percent above the first quarter of 2020.

India (-1.3%) continued to lag, but was the only major trade partner that showed any meaningful decline. Despite...

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ANALYSIS: European Summer Seafood Trade and the Absence of Chinese Tourists

With the tourism industry still at a standstill in Europe, countries across the continent continue to feel the pinch left in the absence of Chinese vacationers. 

From the terraces in Amsterdam to restaurants spread across the Mediterranean coastline, Chinese travellers have long played an important role in seafood consumption over the European summer. While in-country travel will support consumption across European tourist hotspots, it's unlikely to fill the void left by a decline in international travel.

By most accounts, the burgeoning Chinese middle class is the most...

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ANALYSIS: Gulf of Mexico Shrimp Landings 32 Percent Higher in Q1

The National Marine Fisheries Service reported March 2021 landings (all species, headless) of 2.656 million lbs. compared to 1.967 million lbs. in March 2020. This 35 percent increase is the fifth-straight month in which there was a year-over-year increase in landings.

The three-month total of 10.152 million lbs. is 32 percent above the Jan-Mar 2020 total of 7.693 million lbs. While this is great news for a fishery that saw record-low landings in...

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ANALYSIS: U10 Scallop Prices Almost $20 Higher than Last Year

Almost a full month into the start of the 2021 Atlantic sea scallop season, typically a time when abundant landings allow prices to begin softening into the summer months, is seeing.

Supply of all-natural U10s has been constrained since last season and continues to demand record high premiums week after week. Landings of these larger sizes are being harvested, however, the volumes are not yet adequate enough to allow prices to soften...

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ANALYSIS: Blue Swimming Crab Meat Prices Soar; Up 34 Percent from Beginning of the Year 

The crab meat market has reached all-time highs, above levels seen in the late summer and early fall of 2017. Most market participants said it was just a matter of time—and it looks as though they were correct.  

The blue swimming crab meat market for colossal, jumbo lump, super lump, and lump have all achieved all-time highs this month. Meanwhile, the remainder of the grades, backfin, special, and claw continue to climb...

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ANALYSIS: Strength in Shrimp Market Accelerating, Demand Robust and Supply Constrained

Shrimp market values have been on the rise all year but accelerated in the last 30 days. The current situation is unique and the environment unmistakably robust.

Demand has become quite active in tandem with the reopening of restaurants, but probably at a pace that has surprised most market participants. The issue at-hand is that suppliers are short, part intentional and part through no fault of their own.

Importers had been replenishing somewhat cautiously — and for good reason...

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ANALYSIS: Tilapia Pricing at Record Highs 

Despite the market being frozen-in-place for the majority of 2020, frozen tilapia fillets from China have seen an average increase of $0.61 cents per pound since 2018, or up by $0.21 per pound from November 2020 when reports of increased freight were just starting to circulate. Currently, 3-5 ounce and 5-7 ounce, chem-free fillets are boasting all-time record high pricing at $2.55 per pound and $2.65 per pound, respectively.

While tariffs and freight weigh...

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ANALYSIS: Pangasius YTD Imports Highest Since 2017

The latest U.S. Census data was released this week, showing pangasius frozen fillet imports for February 2021 reported 18.8 million pounds of product, the highest February on record since February 2016 brought in 27.1 million pounds. In looking at year-to-date data, the first two months of 2021 collectively reported 41.1 million pounds of product. This year-to-date total is the highest since 2017 brought in 41.9 million pounds for the same timeframe. Compared to the previous five-year year-to-date average...

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ANALYSIS: Supply Situation for Blue Swimming Crab Meat Market Remains Strained

For the blue swimming crab meat market, things seem to be just getting worse.  

Today's focus is on lack of available product. Looking at the January import numbers, Indonesia, the top importing country in the category, is up 3.3 percent to kick of 2021; but it's just not enough.  

Along with many other seafood species that Urner Barry covers, we have discussed at length the shipping issues, including lack of containers, and rising logistics costs. All of this applies to...

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ANALYSIS: Fresh Imported Seafood: Supply Constraints Amid Foodservice Recovery

Signs of optimism are emerging as we approach the one-year anniversary of the initial COVID-19 lockdown. Increasing confidence in the vaccine rollout and easing of state-by-state COVID-19 restrictions are laying the groundwork for the return of the foodservice sector.

For the better part of 2020, importers of fresh fish kept lean inventories due to lockdown orders and closures of dine-in restaurants across the country. During this time, sellers adapted to the new environment and started to move product into the retail sector...

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ANALYSIS: Cooked and Peeled Coldwater Shrimp: Tough Nut To Crack

Following a sluggish start to the year, suppliers of Panadalus Borealis have noticed a gradual uptick in demand, at least for cooked and peeled product going into the UK. With the summer months approaching and lockdowns easing, some market participants expect offer levels to firm.   

While several factors may lead to an uptick in demand for coldwater prawns, several challenges remain.

Key suppliers to the UK market continue to face mixed fortunes.   

While the signing of a free-trade deal between Canada and...

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January Shrimp Imports Start 2021 Strong

January shrimp import totals were released today and started 2021 with another year-over-year increase (+7.0%) to 153.117 million pounds. This was a record for the month of January, continuing a trend of higher imports.

Urner Barry Consulting Economist Angel Rubio forecast 150.920 million pounds to start the year.

India remained our number one trade partner but shipped less (-2.7%) compared to January 2020. The remaining top-five trade partners all shipped more with gains seen from Indonesia (+21.4%), Ecuador(+12.3%)...

Full Story »

ANALYSIS: Octopus Prices Firm Amid Supply Issues

Up until now, it has only been the Spanish octopus market that has been able to firm and even strengthen during the pandemic due to continued demand from the European markets. Unlike the United States, where octopus is largely an out-of-home dining experience, European consumers regularly cook and enjoy the species at home. Retail sales throughout Europe were enough to support elevated raw material costs to the United States despite demand from the foodservice and restaurant sectors coming to a halt in the U.S. in 2020...

Full Story »