Hello all --
Last week marked the release of our annual Seafood CEO Salary Ranking, which showed that the industry's top executives are doing just fine, thank you.
Big M&A news to kick off the week as the world's largest seafood company by revenue, Maruha Nichiro, announced it acquired a UK seafood supplier to move deeper into that market.
Major UK and EU buyers and processors are sniffing out what alternative sources are available to meet their needs should sanctions be placed on Russian whitefish. Hake is among the potential candidates -- but even the companies selling it aren't optimistic.
The Alaska salmon season is picking up pace, but already there are signs that consumers aren't ready to dish out the early prices being asked for the prized Copper River salmon. Here's the latest.
Octopus isn't the first species that comes to mind when you think aquaculture, but one of the world's largest seafood companies continues to make strides in farming the species. Already opposition is mounting however, from those that believe the creature is too smart to be raised in captivity.
Last week was our first in-person Seafood Investor Forum in three years, and among the topics discussed was innovative salmon farming solutions. Among the wide array of future concepts is the Egg, which took a mere 10 years to become reality.
TODAY'S MUST READS
- Access denied | A judge ruled transportation of Alaska pollock into Canada via a teeny tiny "railroad" does not comply with the Jones Act, putting pressure on US group American Seafoods. Massive fines against the company and others were dismissed. However, S&P is keeping an eye on loans coming due, and has placed the group on "credit watch."
- Kind of a big deal | Norwegian salmon farmer SalMar is acquiring fellow producer Norway Royal Salmon (NRS) and will merge the two companies, creating one of the world's largest suppliers.
- It's getting hot in here | New Zealand King Salmon is cutting 139 jobs in an effort to recover costs associated with the pandemic and the impact of rising sea temperatures.
MORE TOP STORIES
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