Displaying items by tag: Seafood
Market diversification despite the pandemic, Euroﬁsh webinar, 18 May 2021
Seafood exporters have had to contend with drastic changes in the market brought on by the pandemic. These took the form of new trends in consumer preferences, novel distribution channels, and new legislation in destination countries, among others. At the Euroﬁsh webinar the discussion revolved around the changes seen in four key markets, China, Ukraine, the UK, and Germany.
Eurofish organised a webinar on Brexit, and what it means for European seafood traders. Presentations and webinar video are available at eurofish.dk/webinar-brexit
Eurofish organised a webinar on Brexit, and what it means for European seafood traders on June 24. Presentations and the webinar video are now availabel at eurofish.dk/webinar-brexit
Thai Union Group PCL has invested in California-based BlueNalu through its venture fund, joining other industry-leading strategic and financial partners in backing the start-up. BlueNalu, is one of the leading cell-based seafood companies in the world, innovatively producing premium fish products from the cells of fish which equal conventional products in terms of texture, nutritional profile, and taste. The company plans to introduce a wide variety of cell-based seafood products, including mahi mahi and bluefin tuna. BlueNalu will leverage this financing to complete the world’s first commercial pilot facility for producing cell-based seafood, and for market launch plans in late 2021. In 2019 Thai Union’s launched its venture fund with an initial commitment of USD 30 million (~EUR 25 million) to focus its investments on three strategic areas: alternative protein, functional nutrition and new technologies along the food value chain. Thai Union is investing in early-stage entrepreneurial companies that are active in these areas and will actively partner with these companies to support and accelerate their development.
A number of prominent seafood shows and events have been cancelled or postponed due to the spreading fear of the coronavirus. The virus, officially named COVID-19, which emerged in the south east Chinese city of Wuhan was initially thought to have been contained within the country but has since showed a spread to most parts of the world with South Korea, Iran, and Italy hit particularly hard. Diversified Communications announced that the Seafood Expo North America, or the Boston Seafood Show’, taking place in mid-March would be postponed to, hopefully, later in 2020 as health, safety, travel restrictions, and logistics would be a concern. The announcement was followed some days later by another postponing their other show, the world’s biggest seafood event, Seafood Expo Global, to a date to be announced on 18 March (after Eurofish Magazine went to press). The Aquafeed Horizons 2020 conference taking place at the end of March and INFOFISH’s biannual event, World Tuna, at the end of May, both taking place in Bangkok have also been cancelled. The Regional Fisheries Conference ‘Market Opportunities and Challenges’ to be held in Gdynia at the end of March, organised by EUROFISH and the Polish Ministry of Maritime Economy and Inland Navigation has also been postponed. Hopefully the seafood economy will recover rapidly from these setbacks and make up for lost opportunities as the threat of the virus recedes.
Putting fish back on the menu
Featured in EUROFISH Magazine 1/2020
Seafood is declining in popularity in Norway, a country with one of the world’s highest figures for per capita consumption. Falling interest in seafood is prompting the authorities and institutions to find out the reasons behind this development and devise ways to counter it.
Norway is the world’s largest exporter of fish and seafood in terms of value after China. The country is however not only an impressive exporter but is also an avid consumer of fish and seafood products. Within Europe, it is only the Icelandics and the Portuguese who eat more seafood than the Norwegians. However, as in many countries, even those with a long tradition of eating seafood, consumption in Norway is declining. Seafood is associated with a number of health benefits both in children and adults. Falling fish consumption therefore can have repercussions on public health, so a number of initiatives backed by a network of public and private institutions have been put in place to reverse this trend.
Among these is the Norwegian Directorate of Health, a body with a mandate to improve the general level of health among Norwegians. A recent report from the directorate analyses developments in the Norwegian diet. What people eat is among the factors closely related to the risks of developing illnesses and of premature death and the directorate’s recommendations regarding diet, nutrition, and physical activity are intended to reduce these risks. The sustainability of a diet is also an aspect that is taken into consideration when making national recommendations today and a healthy diet, meaning one with a high content of fruit, vegetables, and whole grain products and a low content of red and processed meats, is generally more sustainable. The report finds that the development in Norwegian eating habits between 2008 and 2018 has been mixed. Sugar and milk consumption declined, that of vegetables increased, consumption of meat decreased slightly, while that of fish fell considerably. In 2018, Norwegians ate 2.6 times more meat than fish, a figure that was 2.2 in 2008.
Nutreco has announced a strategic partnership with two cell-based food companies BlueNalu, a seafood start-up and meat start-up Mosa Meat. These agreements strengthen Nutreco’s commitment to Feeding the Future with science-based innovations that advance sustainability across the value chain. The food and feed industry must meet the growing demand for high quality proteins driven by a population estimated to rise to almost 10 billion by 2050 but also by more prosperous consumers demanding more diversified diets.
The government and seafood industry are collaborating to create a brand, Russian Fish, under which fish and seafood from Russia will be marketed around the world. The idea is to promote Russia’s resources and boost the industry’s competitiveness in part by highlighting the sustainability of Russian wild-caught fish. The campaign, which has been devised by Expo Solutions Group, the organiser of the Seafood Expo Russia event in St. Petersburg, will also promote the brand as an indicator of quality of fish products from Russia. The brand was presented at the China Fisheries and Seafood Expo at the end of October 2019 as China is the initial target market for Russian seafood sold under the brand. Campaigns in European countries and the USA will follow.
US President Donald Trump has decided to suspend trade preferences for Thailand's seafood industry following the country’s failure to improve worker rights amid allegations of the use of slave labour and trafficking among its migrant workforce. All Thai seafood products will lose their eligibility for duty-free imports under the US Generalized System of Preferences (GSP) programme, which is estimated to be worth USD 1.3 billion, according to Bloomberg News, due to longstanding workers’ rights issues in the seafood and shipping industries. The suspension will be implemented at the end of April 2020. Other items losing duty-free preferences include fruits and vegetables, garment products and electrical appliances.
China’s Agriculture and Rural Affairs Minister, Han Changfu confirmed that China has remained the world's largest exporter of aquatic products for 17 consecutive years with exports having exceeded 20 billion US dollars (18 billion EUR). More than 97 percent of products live up to standards according to a market monitoring report, the minister mentioned at a symposium according to ChinaDaily.