Hello folks -- I've been traveling for both work and holidays lately, but that doesn't mean I haven't spent a fair share of time in the seafood aisle at retailers.
From Rema 1000 to Monoprix to Tesco to Albertson's, one thing is certain: prices are reaching levels that (surely?) consumers will begin pushing back on.
In one sign of that, a "brutal" correction took place in farmed salmon prices this week, with average spot prices declining around NOK 15 (€1.46/$1.47) per kilogram.
This graph shows the trend, but note that while prices are down, they have a long way to go before hitting last year's levels.
We've seen the increases in cod prices tank fish finger sales at UK retail, and the US market is showing a troubling reversal of pandemic-era gains.
A record-breaking Bristol Bay sockeye salmon run comes as a welcome relief to the supply chain, but don't forget that the flood of fish that comes into processing plants in the region are not all going into fresh fillets. In fact, the faster the fish come, the more likely they are to go into less-desirable formats (read: cans).
BROKEN DREAMS?
We're still digesting the implications of the new push against aquaculture in Maine, and the land-based farming industry in particular. Many in the aquaculture world, naturally, are puzzled as to why a state with such a rich maritime heritage would resist any development of its commercial seafood sector.
But it's yet another example of the high-wire act any aquaculture development has to walk, particularly in rural communities suspicious of outsiders.
Land-based aquaculture, which doesn't carry the baggage of the netpen salmon farming industry, seemed like it was making headway in the state, but suddenly the future is unclear.
My colleague John Fiorillo gave a hot take on what he calls a move "from dream to disaster" in this must-read commentary.
DEALS
Seafood mergers, acquisitions and deals aren't taking a vacation this summer, and top analysts say there is much more to come. In the past month alone, we've seen activity around the globe:
- Fortune International acquires US seafood wholesaler
- Cooke, despite rejection, boosts stake in Australian salmon and shrimp farmer Tassal
- AI aquaculture company raises $25 million in new funding round
- Icelandic giant Sildarvinnslan buys seafood harvesting and processing company
- Maruha Nichiro subsidiary joins forces on new Italy venture
- French supplier Ocealliance snaps up two value-added seafood firms
- Nissui-owned Cité Marine snaps up processor from subsidiary of French retail giant
You can be first to know when a deal breaks, by the way, by bookmarking our page or setting up an Alert.
NEED MORE SEAFOOD NEWS?
I can't fit all our great work into one easily digestible round-up, so make sure you visit our Home Page for a run down of all the latest seafood, aquaculture and fisheries news and analysis.
You can also sign up for my free weekly Editor's Picks newsletter here.
Have a great week.
Read more
- American Seafoods exec on Bayside ruling: 'We have alternative plans in place that we will now activate'
- ‘It won't disappear’: Russian whitefish will find its way to market despite sanctions
- Why Japanese behemoth Mitsubishi chose Maruha Nichiro for its first land-based salmon venture
- 'Totally crushed': Ukrainian importer caught in Norwegian salmon export fraud
