In July 2024, Vietnam's fish cake and surimi exports continued to decline. The export value reached just over 24 million USD, down 3% over the same period. In the first 7 months of 2024, the export value of this product group reached 152 million USD, down 13%.

Among more than 35 markets, South Korea, Thailand, China, Japan and the EU are the five largest importers of Vietnamese fish cakes and surimi, accounting for more than 78% of total export turnover. Compared to the same period in 2023, exports to these markets, except the EU, all decreased compared to the same period.

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According to businesses, fish cake and surimi exports are still in a difficult period because the IUU yellow card issue has delayed the confirmation and certification of exploited seafood for production and export. Businesses lack domestic raw materials and face difficulties with imported raw materials due to regulations related to IUU... All of these factors are hindering the recovery of the Vietnamese fish cake and surimi industry.

At the same time, the growing volume of pollock surimi in the already weak global market is a challenge for surimi companies. It is likely that in the next few years, pollock surimi will dominate the tropical fish market unless there is a recovery in consumption demand. This can only happen if new markets are created.

Author/Source: Nguyen Ha/VASEP

As of September 6, 2024, South Korea imported 16,945 tons of fresh salmon, representing a 1% decrease from the 17,167 tons imported during the same period in 2023. The total import value also declined by 12%, falling to USD 242.97 million from USD 276.46 million in 2023.

Norway remains the leading supplier, accounting for 96.48% of imports with 16,299 tons. Chile ranked second, providing 414 tons (2.45%), followed by Canada with 90 tons (0.53%).

Regarding import prices, Norwegian salmon fetched the highest price at USD 13.92 per kilogram, while Chilean salmon was priced at USD 12.32 per kilogram. Canadian salmon was the most economical option at USD 12.23 per kilogram.

Source: Union Forsea Corp.

In Russia, prices for salmon caviar reached 5.8 thousand rubles per kilogram in July of this year. This is 7% lower than in July 2023, when the cost of a kilogram of red caviar reached 6.3 thousand rubles, according to EMISS data.

Since the beginning of the year, caviar prices have fallen slightly - by only 0.8%.

Prices for red caviar are falling despite the decline in salmon production this year. According to estimates by the Federal Agency for Fisheries, the volume of salmon catch will fall by half compared to the previous record year and will amount to 250–260 thousand tons (in 2023 — 609 thousand tons).

According to the results of last year, Russia produced about 25 thousand tons of red caviar, which is almost 1.5 times higher than the annual consumption of this product in the country.

Against the backdrop of growing production volumes of red caviar in Russia, the price of this product also began to decline. In September 2023, it fell by 0.6%, in October - by another 2.5% compared to the previous month, and in November, for the first time since the beginning of the year, it fell below 6 thousand rubles per kg.

Barramundi Group Ltd (“the Company”) (EURONEXT: BARRA) – Reference is made to the stock exchange notice dated 19 September?2023 regarding the Company’s former Australian operations, and the stock exchange notice dated 28 February 2024 regarding progress on financing of the Company’s operations in Brunei.

The resolution of the Australian operations and the meeting of immediate financing requirements in the Brunei operations marked key milestones in the critical restructuring of the Group’s subsidiaries.

Further to its restructuring efforts at the subsidiary level, the Company is now working with its financial advisors, KordaMentha Pte Ltd (“KordaMentha”), to implement a comprehensive restructuring scheme at the holding company. Their expertise will be instrumental in guiding the Company through the process of solidifying a restructuring plan that is aimed at securing the financial sustainability of the Company.

While the specifics of this restructuring is being fine-tuned, it is expected to materially affect the value of the Company’s shares.

The Company is committed to working closely with KordaMentha to finalize a strategy that will lead to a best possible outcome for all stakeholders.

Further updates will be provided as the restructuring process progresses.

The MSC ecolabel has responded to accusations of forced labour on certain certified tuna vessels, according to research published on 3 September, which accused it of allowing cases of forced labour, particularly on certified tuna vessels. For its part, MSC rejects these accusations.

In her report published in Nature, entitled “Does tuna ecolabelling do more harm than good for fishermen?”, researcher Katrina Nakamura reveals shortcomings in the MSC’s self-declaration procedures regarding labour on some of the 3,327 tuna vessels certified by the MSC, the world’s most recognised ecolabel for sustainable seafood.

The incriminated vessels are also the subject of an investigation by the International Transport Federation (ITF) inspectorate, which has identified serious abuses ranging from lack of pay, forced labour and untreated workplace injuries. The Taiwanese purse seiner Win Far 636, for example, is the subject of an investigation following the death of an observer who had reported harassment and threats. Other vessels, the Charlotte M, the Svetlana M, the Natalia Victoria, the Dayna S and the Viki K, all registered in the United States, were reported to be in the process of being investigated.

Source: EuropaAzul

ABANCA and the Spanish Aquaculture Business Association (APROMAR) have renewed, for another year, the collaboration agreement they maintain to, through a common strategy, "consolidate their alliance to strengthen aquaculture activity, of great importance in the country and which already has a clear commitment to respect for the environment."

The agreement has been signed by the director of the ABANCA Business Center in Seville, Rafael Hernández, and the manager of APROMAR, Javier Ojeda.

APROMAR has highlighted that this agreement will allow its associates to access various financing options adapted to the needs of the sector, focusing on energy efficiency and sustainability. The agreement includes products such as a five-year credit policy without commissions, which helps to cover deficits due to biological and seasonal stoppages, as well as interest-free and commission-free loans and a naval mortgage for the construction, purchase or repair of more modern and ecological aquaculture vessels.

Source: MisPeces

A fundamental requirement for the success of programs aimed at promoting the responsible use of antibiotics in animal production is to quantify the use of antimicrobials (AMU) but in a standardized and solid way, in such a way that it allows fair comparisons between animal populations of different size and composition and between drugs of different therapeutic potency.

Under this premise, scientists from the University of O'Higgins and Sernapesca conducted a new study in which they sought to introduce the use of standardized AMU metrics and indicators to quantify the use of florfenicol and oxytetracycline in Chilean salmon farming.

Author: Francisco Soto / SalmonExpert | Read the full article here

Up to £14 million from the Marine Fund Scotland (MFS) will be announced to support projects aligned with the Blue Economy Vision as one of the key priorities for the Rural Affairs and Islands Sector

In a recent statement, Mairi Gougeon, Scotland’s Cabinet Secretary for Rural Affairs, Land Reform and Islands, has highlighted the Scottish Government’s focus on addressing significant financial challenges while advancing key priorities in the rural and islands sectors.

Author: Oliver McBride  / TheFishingDaily | Read the full article here

AKVA group has taken over construction of Årdal Aqua’s post-smolt facility in Årdal, Norway, following Billund Aquaculture’s bankruptcy.

When complete, the Årdal facility will consist of four post-smolt modules, each with a capacity of 1,500 metric tons. AKVA confirmed it expects to finish construction in June 2025.

AKVA said it recruited former Billund employees who had been working on the project and that it will also contribute additional resources “to ensure the successful completion of the facility.”

Author: Cliff White / SeafoodSource | Read the full article here