One of the leaders in the charge for sustainable seafood, the Marine Stewardship Council (MSC), finds itself mired in a tricky political place.
When Russian President Vladimir Putin sent troops into neighboring Ukraine last year, the global outcry was remarkable. Several seafood companies to this day still refuse to purchase Russian fish, though many of them were incredibly reliant on it.
Others? Well, not so much.
Most notably, buyers of Russian pollock find themselves in a tricky spot. There is, as of now, literally no options for the raw material for their frozen products, unless you want to sell them as individual fish fingers to keep the price reasonable. That's meant that the production line's for the largest single volume of sustainable fish -- pollock -- continue to run.
It's also meant that one of the most important revenue streams for the MSC has continued to flow. It's easy to be cynical about licensing fees the MSC charges.
Usually though, that cynicism is expressed in a more muted way. Not by Alaska Department of Fish & Game (ADF&G) Commissioner Doug Vincent-Lang, who dressed down the MSC's continued certification of the Russian pollock fishery with some brutal language.
Hopefully he doesn't exacerbate geopolitical tensions, but for certain I'm guessing he won't be getting a Christmas card from the MSC or Putin this year.
Must reads
- 'Nobody has an edge': American Seafoods prospectus to hit the street within weeks. The saga continues for the Alaska pollock giant, and one thing is for sure -- even with one bidder out of the gate early, the private equity owners are all about the biggest pile of money. The company acquired a whitefish processing vessel to dress up the bride this week.
- Mowi court battle with notorious salmon farming opponent gets underway in Scotland. It's easy to laugh off some of the antics of salmon farming opponent Don Staniford. But sometimes those antics get a little too close for comfort. That's why the salmon giant is going after him in a UK court. This is just the start of what will be an interesting case, with potential precedents being set regarding any activities near farming sites in the future.
- Tensions rise in Bristol Bay as processors signal sharp drop in salmon prices. This is shaping up to be one of the most chaotic seasons in the iconic Bristol Bay sockeye salmon fishery in a long, long time. A huge volume of salmon returned last year, but the processing industry had a hard time selling it. As usual, fishermen are crying foul, and saying the industry is profiteering, but the processors are looking at cold, hard numbers, and watching some competitors struggle. One key indicator price was set by Seattle giant Trident Seafoods this week, and it does not bode well for what fishermen will receive for their catch.
Reader favorites
- Executives at salmon farmer Nova Austral warn company risks insolvency
- 'Increasingly clear trend': Seafood companies keep pivoting away from China
- AquaBounty forced to suspend construction of land-based salmon farm after failing to secure financing
Also
Don't miss this week's podcast, which you can listen to below. You can also download it on Apple, Google Play, Spotify and more.
I'm excited to be attending our Future of Seafood Forum in NYC next week. It's an incredible lineup of speakers, and the discussions will yield some interesting ideas and stories.
Have a great weekend,
Drew
Want to get in touch? Email: drew.cherry@intrafish.com | LinkedIn | Twitter | Follow My Work
