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Jan 10 - ANALYSIS: November 2021 Crab Meat Imports Down From Last Month But Up YTD


Jan 7 - ANALYSIS: November Shrimp Imports On-Trend by Significantly Outpacing Last Year


Dec 23 - ANALYSIS: Mekong Delta Shrimp Factories Under Pressure


Dec 21 - Blue Swimming Crab Meat Market Cools as Raw Material Pricing Rises Overseas


Dec 16 - ANALYSIS: Norway’s Seafood Exports to the UK Receive Pre-Christmas Trade Boost


Dec 10 - ANALYSIS: October Catfish Imports Set Record


Dec 9 - ANALYSIS: European Shrimp Imports Driven by Retail Demand


Nov 16 - Market Movers: Chilean Farmed Salmon Fillets


Nov 12 - ANALYSIS: Record High Prices, Limited Supply Causing Buying Shift for Chinese Catfish and Pangasius


Nov 8 - ANALYSIS: Salmon Imports Bounce Back in Q3


Nov 5 - ANALYSIS: Fresh and Frozen Tilapia Pricing Narrows


Nov 5 - ANALYSIS: September Shrimp Imports Indicate First Year-Over-Year Decline Since November 2020


Nov 4 - ANALYSIS: Argentina's Shrimp Exports up 40% in September


Nov 1 - ANALYSIS: Port of L.A. Sees 20% Drop in Crab Meat Imports


Sep 24 - ANALYSIS: Argentine Red Shrimp National Waters Season Dwindles


Jul 29 - ANALYSIS: Shrimp Farmgate Prices Fluctuate in Mekong Delta with Factories at One-Fifth Capacity


Jul 23 - ANALYSIS: Farmed Salmon Market Off Trend


Jul 19 - ANALYSIS: Crab Meat Continues its Climb


Jul 16 - ANALYSIS: Chinese Catfish Breaking Records Week After Week


Jul 12 - ANALYSIS: The Climb Continues for King Crab, Snow Crab Prices


Jul 6 - ANALYSIS: Pangasius Imports Outpace Tilapia


Jul 2 - Market Trends to Watch Ahead of Independence Day


Jun 28 - ANALYSIS: 2021 Pollock B Season Start Sees Improvement Over 2020


Jun 28 - ANALYSIS: Coldwater Shrimp Prices Supported Despite Market Uncertainty


Jun 11 - ANALYSIS: Crab Meat Market Still Climbing; Imports Down 8.5 Percent Through April


Jun 10 - ANALYSIS: Indian Shrimp Share Values on the Up Despite Supply Concerns


Jun 10 - ANALYSIS: Ecuador Shrimp Producers Appear Committed to Value Adding


Jun 10 - ANALYSIS: Twice Frozen Haddock Demands Premium Over Single Frozen


Jun 9 - ANALYSIS: April Shrimp Imports Surge Led By Ecuador Growth


Jun 4 - ANALYSIS: Farmed Salmon Index Sees Drastic Drop Post Memorial Day Weekend


May 28 - ANALYSIS: Snow Crab Market Sees Pace of Price Slow; Demand Remains Active


May 28 - ANALYSIS: Two Months After Season Open, Scallop Prices Finally Soften


May 28 - ANALYSIS: Mother Nature Adds Another Layer of Uncertainty to the Indian Shrimp Industry


May 24 - ANALYSIS: Spread Between King and Snow Crab Highest Ever


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


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ANALYSIS: November 2021 Crab Meat Imports Down From Last Month But Up YTD

November crab meat imports reveal a 20.5 percent increase year-to-date. Although November monthly imports are down 19.8 percent compared to October 2021, comparing November 2021 to November 2020, imports are up 21.7 percent.

Below is a cyclical look of imports by month. November 2021 remains much higher than the 3-year average, up almost 11 percent.  

Currently the market looks to be about steady to barely steady on blue swimming crab meat. A few lower offers...

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ANALYSIS: November Shrimp Imports On-Trend by Significantly Outpacing Last Year

November shrimp imports were released yesterday and show a 17.1 percent increase over this month last year. The 173.6 million pounds this month led year-to-date numbers above all of 2020. The latest figures show 1.776 billion pounds imported through November, up 18.5 percent from last year.

The U.S. top five trade partners show no surprises, and all shipped more than last year at this time. India (+24.5%) remained the top partner...

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Blue Swimming Crab Meat Market Cools as Raw Material Pricing Rises Overseas

The pasteurized blue swimming crab meat market has started to see some of the smaller grades adjust lower at the end of last week. Overall, we are starting to see an end to suppliers placing customers on allocation and offers are starting to increase. Demand ranges fair to moderate with still pockets of active demand reported. However, inventories appear to be increasing as the market heads into a slower demand period post-Christmas. The highest demand period is typically during the summer in the Mid-Atlantic region...

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ANALYSIS: October Catfish Imports Set Record

Chinese catfish frozen fillets continue to demand premiums well above previous years due to a combination of factors putting pressure on the market including supply constraints, shipping delays due to logistical issues, rising freight costs, increased replacement costs overseas, as well as an active demand, to name a few. 

Even higher prices have been collected by some participants in an effort to temper demand on constrained inventory supply here in the U.S...

Full Story »

Market Movers: Chilean Farmed Salmon Fillets

The Chilean fillet market continues to see fully adequate supplies amid a more quiet demand over the past few weeks. From a historical perspective this is right on par with this time of the year. Chilean fillets are extremely popular and a dominant force at retail in the seafood counter. And as promotions wane around Halloween and typically leading into Thanksgiving, more product can become available for the spot market thus adding some downward pricing pressure. Looking at current promotions or buying opportunities, we have seen...

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ANALYSIS: Salmon Imports Bounce Back in Q3

Through September 2021, fresh salmon fillets blew past 300 million pounds and soared to 322.9 million. Even with a monthly decline from August 2021 to September 2021, fresh salmon fillet imports are at historic highs; up 13.2 percent year-to-date.  

When looking at the breakdown of imports by quarter, we observe that Q3 bounces back above Q2. However, it does not surpass Q1 of 2021. When looking at the three-year average, typically Q2 sees the lightest imports of the year...

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ANALYSIS: September Shrimp Imports Indicate First Year-Over-Year Decline Since November 2020

September shrimp imports were released Thursday, and the 162.987 million pounds reported is the first year-over-year decline since November 2020. The import figure was 1.3 percent below last September’s 165.189 million pounds. Year-to-date imports are 1.414 billion pounds, up 20.2 percent from last year.

India (+31.0%) was the top trade partner to ship more year-over-year. Ecuador (-10.3%), Indonesia (-19.0%), Vietnam (-6.8%), and Thailand (-26.0%) all shipped less.

India’s 72.175 million pounds is a...

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ANALYSIS: Port of L.A. Sees 20% Drop in Crab Meat Imports

As we march through 2021, things are changing while some things are staying the same.  

Taking a look at crab meat imports, there is a significant shift towards the port at Norfolk. Imports have increased 65.2 percent compared to the same time period last year. New York remains the top port for crab meat, but a steady decline is apparent when looking at imports since 2018. Imports are down 20.5 percent when compared to the same time period in 2018...

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ANALYSIS: Shrimp Farmgate Prices Fluctuate in Mekong Delta with Factories at One-Fifth Capacity

The severe consequences of a prolonged lockdown are weighing on Vietnam’s manufacturing and export orientated industries.   

With 114,260 official infections as of Tuesday, Vietnam's economy is faltering.   

New orders to curb the spread of the Delta variant have led to sharp reductions in factory output. Vietnam's Purchasing Managers' Index (PMI) - a measure of manufacturing performance (above 50 representing an expansion, below 50 representing a contraction) - dropped sharply to 44.1 in June from 53.1 over the previous month, ending a six-month period of growth...

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ANALYSIS: Crab Meat Continues its Climb

The current pasteurized crab meat market for both blue and red swimming crabs remains under upward pricing pressure and the market saw adjustments higher throughout this past week. These increases in the quotations are at all-time high prices, and this market has seen continual steep inclines since the beginning of 2021. The market has raced higher, especially on blue swimming crab meat. Presently the market is in one of the higher, if not the highest, demand period of the year. During the summer season...

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ANALYSIS: The Climb Continues for King Crab, Snow Crab Prices

There continues to be no relief in sight for rising King Crab pricing as all sizing remains at all-time highs. Even with imports 45.8% higher through May 2021 as compared to the same time last year, the market remains tight, and demand is active and continues to fall short of buyers’ full-needs.

May 2021 is the first-month imports have dipped below the 3-year average in 5 months; year-to-date imports are still higher, but this month is trending below...

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Market Trends to Watch Ahead of Independence Day

Urner Barry is the leading provider of protein market news and information in the food industry. Through daily canvasses of the trade and an unrivaled historical database, our analysts are uniquely positioned to report on the underlying conditions and significant disruptors to the market. In this Market Briefing, Urner Barry reporters outline the latest action in the commodity protein markets, highlighting seasonal factors, disruptors, and current supply and demand fundamentals.

Access the latest UB Market Briefing HERE.  

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ANALYSIS: Coldwater Shrimp Prices Supported Despite Market Uncertainty

Following an aggressive rollout of vaccines, suppliers of Pandalus Borealis have noticed a gradual uptick in demand.   

With eased lockdowns and summer terraces across the European continent opening, market participants have seen offers firm, particularly for smaller sized shrimp going to industrial hand peelers.  

While a sense of optimism is noted on market calls, processor margins remain squeezed against the backdrop of inflationary operating costs.   

While spot trades for cooked and peeled product going into the UK are also on the up...

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ANALYSIS: Indian Shrimp Share Values on the Up Despite Supply Concerns

While Indian shrimp production is contending with a mixture of challenges including sporadic lockdowns, institutional investors continue to see growth opportunities.    

PRODUCTION PROSPECTS 

According to recent estimates, around 60% of India’s economy is subject to mobility curbs, with key economic hubs such as Gujarat, Tamil Nadu and Rajasthan seeing rising COVID-19 cases. 

Despite ongoing hurdles, some remain optimistic about the country’s shrimp sector. A recently published advisory report suggests that Indian shrimp sales are set to benefit from a revival in international demand and...

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ANALYSIS: Twice Frozen Haddock Demands Premium Over Single Frozen

The market for twice frozen haddock fillets began strengthening soon after the tariff exemption on the imported species came to an end on December 31, 2020. Since then, wholesale prices have increased an average of $0.83 per pound, reaching a new record high of about $4.38 per pound for skinless, boneless, IQF, frozen fillets.

Contributing factors to the rising wholesale price includes elevated freight costs and widespread logistical issues causing shipping delays coupled with heightened demand from the swift...

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ANALYSIS: Farmed Salmon Index Sees Drastic Drop Post Memorial Day Weekend

The farmed salmon market in the U.S. took a somewhat drastic turn post-Memorial Day Weekend.

Prior to this week, the entire farmed salmon index was at all-time highs heading into Memorial Day weekend. Canadian, Chilean, European whole fish and fillets raced higher with significant jumps along the way for the four weeks throughout the month of May.  

Over the past five years—outside of 2020, which we all know was a different year—we've typically seen the...

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ANALYSIS: Mekong Delta Shrimp Factories Under Pressure

Shrimp farmgate quotations across Vietnam remained somewhat steady during week 50, with major retailers across the U.S., Europe and Asia well stocked for the holiday period.  

While a steady undertone is noted on raw material and freight costs, market optimism remains subdued amid lackluster export demand and elevated uncertainty, a consequence of rising Omicron cases across the globe.

Given the current situation of COVID in the Mekong Delta, many factories will continue to face challenges going into next year.

"The Covid situation remains a major obstacle for...

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ANALYSIS: Norway’s Seafood Exports to the UK Receive Pre-Christmas Trade Boost  

While chaotic market conditions continue to hinder seafood trade across the globe, a new deal between the UK and Norway has slashed red tape, reduced unnecessary paperwork, and brought opportunities for seafood traders on both sides of the agreement. 

Effective from December 1, the long-awaited free trade deal between the UK and Norway will facilitate key seafood exports such as salmon, haddock, and cod, as well as Coldwater shrimp to the UK market. 

According to the free trade agreement...

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ANALYSIS: European Shrimp Imports Driven by Retail Demand 

The European shrimp market continues to be met with major challenges, with recent restrictions particularly across Northern Europe dampening foodservice orders.  

While the introduction of pre-departure COVID tests and health passes continue to weigh on tourism and restaurant trade, European retail orders for shrimp continue to drive import volumes.  

European nations (EU and Non-EU members) imported a total of €3.24bn frozen shrimp (HS 030617) in the first nine months of the year, 17.43% higher than import values over the same period in 2020 and representing...

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ANALYSIS: Record High Prices, Limited Supply Causing Buying Shift for Chinese Catfish and Pangasius

Wholesale prices for both Chinese catfish and Vietnamese pangasius frozen fillets continue to set new record highs with pangasius even climbing above 2018 levels. Contributing factors continue to point to the rise in freight, shipping delays due to logistical issues including congested ports, as well as active demand supported by the upcoming holiday and Lenten seasons.

YTD Chinese catfish imports are outpacing the previous three years for the same January through September timeframe, however, inventory levels...

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ANALYSIS: Fresh and Frozen Tilapia Pricing Narrows

Throughout the height of the pandemic, the tilapia market remained steadfast with wholesale costs largely unchanged and import volume unaffected due to the timing of the latest harvest cycle coming to an end as China was shutting down back in the first quarter of 2020. This allowed the U.S. supply of frozen tilapia fillets to be intact for the following months. This year, however, the struggles throughout the supply chain, due in part, by labor shortages, logistical issues, and increasing freight costs have allowed...

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ANALYSIS: Argentina's Shrimp Exports up 40% in September 

While Argentina’s shrimp fishery continues to navigate troubled waters, demand for wild caught shrimp in Europe and Asia continues to support sales. 

Importers across key markets continue to experience pockets of burdensome supply and trade activity has increased significantly alongside the easing of global lockdown measures.  

Following four consecutive quarters of export declines (Q1 2019 vs 2020 - Q4 2019 vs 2020), Argentina finally saw shrimp exports grow in Q1 2021 compared to the same three months in 2020, increasing by +4.86%. While trade figures for most of...

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ANALYSIS: Argentine Red Shrimp National Waters Season Dwindles

While the shrimp season in national Argentine waters typically closes towards the back end of October, recent reports suggest that the ongoing season is nearing an imminent closure. 

Feedback from market participants suggests that an estimated 20% of the more than two hundred vessels that catch shrimp were currently active in the fishing zone, while the remainder has begun to direct their efforts towards other species, mainly due to low shrimp catches.  

According to reports from the National Institute for Fisheries Research and Development (INIDEP), yields have dropped significantly...

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ANALYSIS: Farmed Salmon Market Off Trend

When looking at the seasonal trends, the farmed salmon market is out of character for this time of the year.  

In the farmed salmon market we often write about the summer doldrums and the seasonal summer slowdown each year after the Memorial Day holiday. However, 2021 has proven to be a year that is hard to predict.  

As of this writing, the farmed salmon index is 31 percent higher than the 5-year average and 61.9 percent higher than the same time last year...

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ANALYSIS: Chinese Catfish Breaking Records Week After Week

Chinese Catfish continues to break records week after week, boasting an average wholesale price that is trending $0.89 per pound higher than the previous three-year average. Multiple factors are putting pressure on the market at once, allowing premiums to swiftly escalate.        

Freight and logistical issues remain at the forefront of conversations with market participants. Problems at the departure port in Guangdong, China, issues in securing container or vessel transport, and skyrocketing freight costs have left some industry players without any..

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ANALYSIS: Pangasius Imports Outpace Tilapia

In another turn of events originating from the complications set in place into the market by COVID-19, pangasius imports are currently outpacing that of tilapia. Historically, tilapia frozen fillet volume exceeds that of pangasius by just under 100 million pounds on a yearly basis, however, in looking at how volumes are tracking thus far on a year-to-date basis for 2021, pangasius frozen fillets are outpacing tilapia by over 20 million pounds from January through May.

Even with tilapia frozen fillets majorly coming from China...

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ANALYSIS: 2021 Pollock B Season Start Sees Improvement Over 2020

The 2021 Alaskan Pollock B season opened June 10, 2021 in the Bering Sea and Aleutian Islands. Vessels are eager to see improvements in fishing compared to the previous 2021 A season, as well as the 2020 B season.

Currently, the 2021 total allowable catch for Bering Sea pollock is set at 1.375 million metric tons, 50,000 metric tons less than it was in 2020.

As per the most updated data from NOAA on June 24, 2021, the first two...

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ANALYSIS: Crab Meat Market Still Climbing; Imports Down 8.5 Percent Through April

April imports remain lower for pasteurized crab meat. In total year-to-date crab meat is down 8.5 percent. Indonesia, the largest producing country with a 48 percent market share, is down 17.8 percent year-to-date. The country’s imports are also 9.3 percent lower than the 3-year average.  

In addition to the lower imports, reports out of Indonesia are that the size of the blue swimming crabs are smaller. Due to this scenario, the market will...

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ANALYSIS: Ecuador Shrimp Producers Appear Committed to Value Adding

The growth in the category in recent years is not going unnoticed. Shipments of peeled shrimp from Ecuador to the U.S. were up 12 percent in 2018, 16 percent in 2019, and 51 percent in 2020. In this short time, the volume has nearly doubled—going from 52 to 101 million pounds.

More recently, in just the first quarter of 2021, shipments of peeled shrimp from Ecuador to the U.S. surged 88 percent. While India is still the dominant supplier— shipping 55 percent of all...

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ANALYSIS: April Shrimp Imports Surge Led By Ecuador Growth

April’s shrimp import totals were released today and continued the trend of large year-over-year gains. April 2021 imports were 134.257 million pounds versus a pandemic ravaged 113.822 million pounds last year. This represented an 18 percent increase, widening the year-to-date gap to 11.8 percent higher.

The problems in India (-16.4%) persist, which has affected imports from that country tremendously. While India remained our number one trade partner, the gap to second and third shrunk significantly. Imports accounted for... 

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