In week 41 of 2024, wholesale prices for frozen pollock in South Korea have experienced a modest increase across all sizes (6, 7, 8, and 9 pieces per box).
By the end of September 2024, South Korea had imported 105,136 tons of frozen pollock, marking a 1% decrease from 106,596 tons imported in 2023. This volume represents 16.1% of the country’s total seafood imports.
The total value of frozen pollock imports reached USD 105.14 million, reflecting a 10% decline from USD 101.10 million during the same period in 2023. The average import price for frozen pollock until September 2024 was USD 0.96 per kilogram, down 9% from USD 1.06 per kilogram in 2023. Prices varied by country, with Russia at USD 0.96/kg, the United States at USD 1.25/kg, and China at USD 1.61/kg.
Domestically, wholesale prices for frozen pollock are as follows: the 7-piece size is approximately KRW 39,500, while the 8-piece size is about KRW 29,500. The price for the 8-piece size has decreased by 3.3% from KRW 30,500 in August 2024 and by 13.2% from KRW 34,000 in June 2024.
The National Chamber of Aquaculture (CNA) estimates that the power cuts announced by the National Electricity Operator Cenace for the country's industrial sector could cause a drop of USD 75 million per month in shrimp exports, with effects that could worsen as the days go by.
This measure, which contemplates cuts of up to 14 hours a day for 15 days, will seriously affect the productive chain of the shrimp sector.
The power cuts, which began this week, are already impacting the production of balanced feed for shrimp, vital for the industry.
In addition, the packing plants face similar difficulties, with interruptions of up to 13 hours a day, complicating the export process.
"The scenario proposed by CENACE places the shrimp sector in a critical situation. The lack of balanced feed, which we have already begun to register, not only affects current production, but will also force a reduction in planting densities, which means a lower export volume right in a season of greater demand,” said José Antonio Camposano, president of the CNA.
Camposano stressed the need to have predictable rationing schedules and manageable time slots to mitigate the impacts.
Bolton Group, the family-owned Italian food producer, has announced plans to close its fish canning factory in Quimper, located in north-west France.
The facility, which produces canned mackerel and sardines, is expected to cease operations by the end of 2024, as reported by Just Food.
In explaining the decision to close the production plant, the company stated: “Since 2020, we have faced a significant decline in sales due to changing consumer preferences, rising production costs, inflation, and market share erosion resulting from the gradual rise of private labels.”
These factors have led to“excess production capacity,” affecting “all of the group’s European plants and necessitating a rationalization of production.”
The company has held meetings with employees at the Quimper plant to discuss the closure and possible social support measures.
Bolton also confirmed that production of its canned fish brands will likely be moved to Spain or Agadir, Morocco, following the closure. Approximately 155 permanent jobs are at risk as a result of this decision.
The Norwegian government will increase the compensation scheme for the fishing fleet for CO2 emissions from 153.6 million Norwegian kroner (13.1 million euros) to 500.4 million Norwegian kroner (42.7 million euros).
This compensation scheme applies to taxes paid in 2024. The increase in the subsidy programme takes into account the increase in the CO2 tax from 2023-2024. "When there are no real fossil-free alternatives, the tax becomes only a higher operating cost," explains the Norwegian Executive. The compensation scheme was created in 2020 to facilitate the restructuring of the fishing fleet, with the expectation that it would be phased out gradually.
Source: Fishing Industries l Read the full article here
The Vietnamese Ministry of Foreign Affairs has made a firm proposal to the Chinese Embassy in Hanoi over the actions of Chinese security forces and has demanded that China fully respect Vietnam's sovereignty over the Hoang Sa Archipelago. Several countries and international organisations have expressed concern over the brutal behaviour of Chinese law enforcement forces against Vietnamese fishermen operating in Vietnam's Hoang Sa (Paracel) Archipelago area.
A new draft South East Marine Parks Management Plan has been unveiled by Tanya Plibersek MP, Minister for the Environment and Water. But while it has been designed to bolster marine biodiversity protection, some industry leaders say the plan has introduced new challenges. They have warned that while there are wins for conservation, the reduced fishing access will have unintended consequences and consumers are likely to face higher seafood prices as fisheries grapple with shrinking grounds and rising costs.
Qingdao, China-based Meichu Foods has launched a new salmon snack, with the rollout providing further evidence of salmon’s staying power in the Chinese market.
Meichu has rolled out the Salmon Cheese Roll and is one of several firms in the country that has focused on premium seafood imports, selling its products under the Wo Ai Yu brand.
Author: Mark Godfrey / SeafoodSource l Read the full article here
Vessel-supply company FSV Group has announced the successful launch of its latest processing ship, FSV Scotia.
This marks the fourth vessel of its kind for the company, with delivery scheduled for the first quarter of 2025.
The hull of the FSV Scotia was constructed by Finomar in Poland and launched via a barge. The vessel will now be towed to Fitjar Mekaniske Verksted (FMV) in Norway for outfitting and final completion.
Source: SalmonBusiness l Read the full article here
Fisheries Development Oman SOAC is tasked with co-investing in various aquaculture, fisheries, and marine biotechnology initiatives throughout Oman.
Fisheries Development Oman SOAC (FDO), the fisheries investment arm of the Oman Investment Authority (OIA), has entered into an advisory contract with AquaBioTech Group. This partnership aims to deliver a comprehensive suite of consulting and advisory services to enhance the sustainable aquaculture and fisheries sectors in the Sultanate of Oman. The support will encompass business strategy development and technical due diligence.
FDO is committed to co-investing in a range of aquaculture, fisheries, and marine biotechnology projects across Oman, backed by a substantial funding allocation of USD 1.2 billion from the Omani government. Significant investments have already been made in strategic aquaculture ventures, including seabream cage farming with Blue Waters LLC, semi-intensive shrimp farms in the Al Sharqiyah South governorate, and the construction of a fishing port in Duqm.
FDO’s investments in critical fishery infrastructure and business sectors will serve as a catalyst for growth and diversification, ensuring long-term sustainability. These efforts align with the broader goals of sustainable development and economic diversification outlined in Oman Vision 2040.
Fisheries Development Oman (FDO), a fisheries investment arm of the state-owned Oman Investment Authority (OIA), has signed an advisory contract with Malta-based aquaculture consultant AquaBioTech Group.
AquaBioTech will provide a comprehensive range of consulting and advisory services to support FDO to develop sustainable aquaculture and fisheries sectors in the Sultanate of Oman.
Source: fishfarmingexpert l Read the full article here
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SOUTH KOREA
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ECUADOR.png)
This measure, which contemplates cuts of up to 14 hours a day for 15 days, will seriously affect the productive chain of the shrimp sector.
FRANCE.png)
NORWAY.jpeg)
The Norwegian government will increase the compensation scheme for the fishing fleet for CO2 emissions from 153.6 million Norwegian kroner (13.1 million euros) to 500.4 million Norwegian kroner (42.7 million euros).
VIET NAM
The Vietnamese Ministry of Foreign Affairs has made a firm proposal to the Chinese Embassy in Hanoi over the actions of Chinese security forces and has demanded that China fully respect Vietnam's sovereignty over the Hoang Sa Archipelago. Several countries and international organisations have expressed concern over the brutal behaviour of Chinese law enforcement forces against Vietnamese fishermen operating in Vietnam's Hoang Sa (Paracel) Archipelago area.
AUSTRALIA
A new draft South East Marine Parks Management Plan has been unveiled by Tanya Plibersek MP, Minister for the Environment and Water. But while it has been designed to bolster marine biodiversity protection, some industry leaders say the plan has introduced new challenges. They have warned that while there are wins for conservation, the reduced fishing access will have unintended consequences and consumers are likely to face higher seafood prices as fisheries grapple with shrinking grounds and rising costs. 
CHINA
Qingdao, China-based Meichu Foods has launched a new salmon snack, with the rollout providing further evidence of salmon’s staying power in the Chinese market.
Vessel-supply company FSV Group has announced the successful launch of its latest processing ship, FSV Scotia.
OMAN
Fisheries Development Oman (FDO), a fisheries investment arm of the state-owned Oman Investment Authority (OIA), has signed an advisory contract with Malta-based aquaculture consultant AquaBioTech Group.
