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Week in Review: A 'new normal' salmon price; aggressive Russian pollock growth; seafood investment fund pays off

This was the week that was in the world of seafood.

We’ve left the holiday period behind us, Christmas and New Year already feel like a distant memory, and the year is now in full swing – with the seafood world no exception.

Last week was the Global Seafood Market Conference, the first major seafood event in the calendar, and a clear marker that normal service is resumed and the year is properly underway.

Editors John Fiorillo and Rachel Mutter as well as reporter Rachel Sapin were all there to cover the event for the full three days, which also included the third IntraFish Women in Seafood Leadership Summit.

The week also saw Russian pollock giant Gidrostroy, unveil its aggressive growth strategy in an exclusive interview with IntraFish, while the country’s pollock ‘A’ season got underway with weak catches.

We also heard how Norway's seafood firms have lost nearly $3 billion (€2.6 billion) since the Russian ban came into force, while the future of the UK and EU seafood industries remains uncertain after MPs rejected the prime minister’s latest attempt at a Brexit deal.

In the wake of that defeat , Seafish released a Brexit guide for the seafood industry and fishermen urged the EU to protect the value chain from a hard Brexit.

The Norwegian Seafood Council (NSC) meanwhile, warned that a 'no deal' Brexit would be the worst outcome for Norwegian seafood exports.

Also during the week we put together a compilation of the biggest farmed and wild whitefish stories of 2018; learned how the previous week’s decision by the EU to remove its yellow card on Thailand will have ‘spillover’ benefits; and saw Rabobank analysts set a 'new normal' salmon price for 2019.

Investment group Bonafide Wealth Management talked to IntraFish about how some of its fund were reaping big returns on seafood, so much so it was planning to open another one, while the much-anticipated sale of Young's Seafood to CapVest took a step backwards with its bid coming in too low.

In Chile, Verlasso revealed plans to move its farms to Magallanes in the south of the country, while fellow salmon farmers Australis – which also got the go-ahead for a $70 million (€61.5 million) plant in Magallanes during the week -- Salmones Camanchaca and Blumar also announced plans to join forces in a logistics venture.

Over in the United States, East Coast Seafood announced it would be closing its Garbo lobster facility in Groton, Connecticut, while the director of Indian shrimp giant WestCoast said the new US SIMP regulations were a 'wake-up call' for Indian shrimp industry.

The week saw the Bakkafrost CFO resign after nearly 5 years in the role, and Felix Ahlers, CEO of Frosta, gave his outlook for the year to come.

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