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Don Quijote Expands Seafood Sales to Asia Amid Chinas Ban on Japanese Seafood
NewsInternationalTrade

Don Quijote Expands Seafood Sales to Asia Amid China’s Ban on Japanese Seafood

by Fishery News 16/10/2023
written by Fishery News

In response to China’s ongoing ban on Japanese seafood due to concerns about the Fukushima water leak, the owner of the Don Quijote discount chain, Pan Pacific International Holdings, is set to introduce Japanese scallops at 38 stores across Asia from November. This strategic move aims to broaden the customer base in Asian countries where Don Don Donki outlets operate, including Thailand and Malaysia.

The scallops, sourced from Hokkaido, will be featured in sashimi and scallop sushi at the 38 outlets, with Sen Sen Sushi eateries inside the shops offering the latter. The decision to export Japanese seafood is a proactive step by Pan Pacific International Holdings, distinguishing it from the domestic-focused initiatives undertaken by other Japanese retailers and restaurants following China’s seafood ban announcement on August 24.

To facilitate seafood exports, PPIH established the Pan Pacific International Club in 2020, an association supporting farmers and seafood producers. Leveraging this network, Japanese scallops can be delivered fresh, enabling them to be consumed raw, and shipped efficiently to adjacent ports and airports for export to various Asian markets.

In a bid to promote Japanese seafood, PPIH organized a three-day scallop “fair” at a Malaysian store, featuring scallops from Miyagi prefecture off Japan’s coast. Ichiro Miyashita, the Japanese Minister of Agriculture, Forestry, and Fisheries, expressed the company’s strategy to expand seafood exports through awareness-building efforts such as organizing fairs.

The ban by China was prompted by Japan’s release of treated radioactive effluent into the ocean from the Fukushima Daiichi nuclear power station, resulting from an accident. Japan’s trade data revealed a significant 75.7% year-over-year decline in the value of unprocessed seafood exports to China in August.

As a response to the embargo, Aeon, a grocery chain, and Seven-Eleven Japan, a convenience store chain, are increasing purchases of Hokkaido scallops for promotion in domestic stores. Additionally, restaurant operator Watami, conveyor belt sushi company Kura Sushi, and retailer Seiyu are actively featuring Japanese fish in sales promotions to mitigate the potential economic impact of China’s embargo.

16/10/2023 0 comment
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Odisha Ranks Fourth in National Fish Production Achieves Self Reliance
NationalNewsTrade

Odisha Ranks Fourth in National Fish Production, Achieves Self-Reliance

by Fishery News 13/10/2023
written by Fishery News

Odisha has secured its position as the fourth-largest state in fish production and the seventh-largest in marine fish production across the country. This revelation surfaced during a review meeting of the Fisheries and Animal Resources Development department, chaired by Asit Tripathy, Principal Advisor to the Chief Minister, in Bhubaneswar on Thursday.

Tripathy highlighted Odisha’s remarkable progress in fish production, stating, “Today Odisha has become self-reliant in the production of fish seed. With a fish production of 7.62 lakh tons annually, the state has achieved an annual growth rate of 31.5%.”

The state has not only excelled in domestic fish production but has also emerged as a significant player in the export of fish. Tripathy emphasized the noteworthy growth in the production, sale, and distribution of fish in Odisha over the past five years.

The government’s strategic plans for further bolstering the fisheries sector were unveiled during the meeting. A noteworthy decision includes the construction of an aquaculture farm in the Hirakud reservoir in Sambalpur district, entailing an investment of Rs 100 crore. The aquaculture farm will encompass fish production facilities, processing units, and general infrastructure. Additionally, a comprehensive plan will be formulated for fish farming in the brackish waters along the coastal areas of the state.

Suresh Kumar Vashishth, Principal Secretary of the Department of Fisheries and Animal Resources Development, also attended the meeting, underscoring the government’s commitment to fostering sustainable growth in the fisheries sector.

13/10/2023 0 comment
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Wanda Fish Technologies Raises 7 Million in Seed Funding Led by Aqua Spark
NewsInternationalTrade

Wanda Fish Technologies Raises $7 Million in Seed Funding Led by Aqua-Spark

by Fishery News 13/10/2023
written by Fishery News

REHOVOT, ISRAEL — Wanda Fish Technologies Ltd., a pioneering FoodTech startup specializing in cultivated fish, has successfully secured $7 million in seed funding, with Aqua-Spark leading the funding round.

The substantial investment is poised to propel Wanda Fish Technologies towards expediting the development and scaling of cultivated whole-cut filets of bluefin tuna. The company employs an innovative approach in formulating the cultivated fish, leveraging a 3D filet structure crafted from bluefin tuna cells, differentiated into both muscle and fat tissues. This unique process allows precise control over the fat levels in the final products.

Expressing enthusiasm about the collaboration, Daphna Heffetz, PhD, co-founder, and CEO of Wanda Fish, remarked, “We are excited and feel incredibly fortunate to collaborate with Aqua-Spark in propelling our venture forward. We are on a shared mission to improve the global food value chain, creating a tasty, more sustainable future for all. This financial backing by leading global venture funds gives us significant leverage to make sustainably cultivated, cruelty-free, and ocean-friendly bluefin tuna a reality.”

The funding infusion underscores the potential of Wanda Fish Technologies to revolutionize the food industry by offering sustainable, cruelty-free alternatives. The partnership with Aqua-Spark, a prominent player in sustainable aquaculture investments, positions Wanda Fish Technologies for notable advancements in the cultivation of bluefin tuna, aligning with the global shift towards more environmentally conscious and ethical food production practices.

Source: Food Business News

13/10/2023 0 comment
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Record Growth at Seafood Expo Asia in Singapore Signals Industrys Vibrancy
NewsInternationalTrade

Record Growth at Seafood Expo Asia in Singapore Signals Industry’s Vibrancy

by Fishery News 13/10/2023
written by Fishery News

The 11th edition of Seafood Expo Asia, produced by Diversified Communications, marked historic success, with the exhibit hall in Singapore witnessing substantial growth in its second year. Diversified officially confirmed that the 2023 expo, held from 11 to 13 September, hosted 362 exhibiting companies from 41 countries, encompassing an exhibit space that expanded by 86 percent compared to the previous year.

The three-day event drew an impressive attendance of more than 4,370 seafood professionals, reflecting a remarkable surge in participation. Diversified Communications Vice President for Seafood, Wynter Courmont, expressed satisfaction, stating, “This year’s event proved to be highly successful in facilitating strategic conversations and building key relationships between a diverse community of top-level buyers and suppliers from around the world.”

Courmont attributed the growth to Singapore’s strategic geographical position in Asia, underscoring its significance as a pivotal hub for international business. The achievement aligns seamlessly with the overarching mission of fostering international collaboration and trade within the seafood industry.

A notable addition to this year’s expo was the inaugural Seafood Excellence Asia Awards, an extension of the prestigious Seafood Excellence awards. Tassal, a subsidiary of Cooke, clinched the Best New Product award for its innovative Tassal Tassie Smoked Salmon Twin Pack (2 x 50g). Tassal shared that the product was developed to offer customers greater convenience with improved packaging, addressing the desire for smaller-sized portions of indulgent smoked salmon.

The event also featured a comprehensive conference program, covering topics ranging from the impact of artificial intelligence on the seafood industry to strategies for seafood companies to maximize opportunities in the Asian market.

Expressing enthusiasm about tapping into the promising Asian market, Grupo Aquamar (Nicaragua) Sales Representative Melissa Osorio shared her positive experience at Seafood Expo Asia, emphasizing the invaluable connections made during the event.

Anticipating continued success, Diversified Communications announced that the 12th edition of Seafood Expo Asia is scheduled to take place at the Sands Expo and Convention Center in Singapore from September 4 to 6, 2024. The announcement underscores the commitment to maintaining the momentum and furthering international collaboration in the dynamic seafood sector.

Source: Diversified Communications

13/10/2023 0 comment
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Revolutionizing Indias Fish and Meat Market in Less than 5 Years
NewsInternationalTrade

Revolutionizing India’s Fish and Meat Market in Less than 5 Years

by Fishery News 11/10/2023
written by Fishery News

In 2018, three IIM-Lucknow batch mates embarked on an entrepreneurial journey that would reshape India’s fish and meat market. Karthik Regunathan, CEO of ChopServe, along with his co-founders, recognized a gap in the industry and set out to create a modern retail platform for fresh fish, seafood, mutton, and poultry products.

Identifying Market Gap:

The trio observed that while various industries had evolved, the fish and meat category in India remained largely untouched and fragmented. Traditional butcher shops and local fish markets lacked hygiene and product quality, and supermarkets offered limited selections. Online meat platforms faced challenges in providing fresh, customizable products.

Strategic Pivot:

ChopServe initially supplied fish and seafood to B2B customers but faced rejections. Adapting swiftly, the founders decided to reach end-customers directly. Recognizing the need for customization in the diverse culinary landscape of India, they embraced an omni-channel approach.

Omni-channel Revolution:

ChopServe’s journey began with a 1050 sq. ft. store in Bengaluru’s Koramangala, combining brick-and-mortar with robust online capabilities. The store featured live processing sections, enabling customers to customize orders on the spot. This fusion of technology and traditional retail marked the birth of a modern identity for ChopServe.

Expansion and Success:

With approximately 94 stores across South India and Dubai, ChopServe’s success lies in its commitment to positive cash flows and measured growth. The brand’s outlets in Chennai, Bengaluru, Hyderabad, and other cities have become go-to destinations for fresh and hygienic meat products.

International Ventures:

ChopServe’s foray into Dubai serves as a test run for further expansion into the Gulf Cooperation Council (GCC) market. While maintaining focus in South India, the company eyes opportunities in eastern, western, and northern regions of the country.

 Future Growth and Funding:

As ChopServe explores new horizons, plans for expansion and fundraising efforts are underway. The company, with its steady approach to profitability, aims to continue its trajectory of sustainable growth.

ChopServe’s transformative journey stands as a testament to entrepreneurial vision, adaptability, and a commitment to revolutionizing an industry that was long overdue for innovation.

11/10/2023 0 comment
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Russian Fish Exports Surge by 7 in Volume Reaching 1.6 million Tonnes
Trade

Russian Fish Exports Surge by 7% in Volume, Reaching 1.6 million Tonnes

by Fishery News 10/10/2023
written by Fishery News

Russian fish product exports (excluding trade outside the customs zone) experienced a 7% increase in volume compared to the same period last year, reaching approximately 1.6 million tonnes. The Federal Agency for Fishery, citing provisional data from the Federal Customs Service (FCS) of Russia, reported that the export’s value amounted to $4.1 billion.

Frozen fish constituted the major share of the three-month fish exports, totalling 1.227 million tonnes, reflecting an 8% increase over the first nine months of 2022. Other significant contributors included fish fillets and fish meat (including minced meat) at 169,000 tonnes, flour and non-food granules from aquatic biological resources at 112,000 tonnes (a notable 17% increase), and crustaceans, mollusks, and aquatic invertebrates at 83,000 tonnes (a substantial 29% increase).

The nine-month fish product exports recorded an impressive 24% surge, reaching 439,000 tonnes valued at $1.9 billion.

Russian fishery companies demonstrated robust performance in the extraction of aquatic biological resources, totaling approximately 4.2 million tonnes in the first nine months of the year. This marked a notable 12% increase compared to the same period last year. The production of fish products during this period reached 3.1 million tonnes, reflecting a parallel 12% growth.

Rosrybolovstvo, the Russian Federal Agency for Fisheries, forecasts that the catch of aquatic biological resources in the country will reach 5.08 million tonnes by the end of 2023, maintaining the 2022 volume level. The projection anticipates a larger volume to be exported to the Asia-Pacific region (APR), the Middle East, and Africa, with reduced exports to unfriendly countries.

10/10/2023 0 comment
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Ecuadors Shrimp Sector Faces Crisis as Operating Costs Surge and Prices Plummet
AquacultureInternationalNewsTrade

Ecuador’s Shrimp Sector Faces Crisis as Operating Costs Surge and Prices Plummet

by Fishery News 04/10/2023
written by Fishery News

Ecuador’s shrimp sector is grappling with a crisis marked by soaring operating costs and a drastic decline in international prices, according to concerns raised by the National Chamber of Aquaculture (CNA). The industry has witnessed an alarming decrease in liquidity, with a USD 0.98 (EUR 0.90) reduction for each pound of shrimp produced, equating to a year-to-date economic impact surpassing USD 1 billion (EUR 917 million), as reported by the chamber.

Over the last 15 months, the export price for shrimp has experienced a significant drop of USD 0.70 (EUR 0.64) per pound, severely impacting the sector’s revenues. The primary factor contributing to this decline is lower consumption in major markets like China, posing challenges to the production chain and rendering the industry incapable of covering production costs. Remarkably, current prices are even lower than those witnessed during the pandemic in 2020, presenting an unprecedented challenge for the sector.

Ecuador has been a key shrimp supplier to China, its largest market, with 70 percent of China’s imported shrimp in 2022 originating from Ecuador. However, changes in China’s import policies, particularly related to zero-Covid restrictions, prompted Ecuador to shift focus to the U.S. and European markets. Despite this diversification strategy, Ecuador’s shrimp sector has not escaped the global oversupply of shrimp, leading to diminished demand and lower prices for producers.

The crisis highlights the vulnerability of Ecuador’s shrimp industry, emphasizing the need for strategic measures and support to navigate through the challenging market conditions

04/10/2023 0 comment
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Smart Fish Farm Secures Location Clearance for 19000 Tonne Venture
TradeAquacultureInternationalNews

Smart Fish Farm Secures Location Clearance for 19,000 Tonne Venture

by Fishery News 04/10/2023
written by Fishery News

SalMar, a prominent player in the aquaculture industry, is set to elevate offshore salmon farming with its newly approved Smart Fish Farm in the open Norwegian Sea. Building on the success of the Ocean Farm 1 project, which pioneered offshore farming technology, Smart Fish Farm aims to further push the boundaries of innovation in salmon production.

The Norwegian Directorate of Fisheries has granted approval for the development of the Smart Fish Farm, marking a significant milestone for SalMar. Unlike its predecessor, Ocean Farm 1, which tested the limits of offshore farming with its exposed location, Smart Fish Farm will be situated directly in the open Norwegian Sea.

The cutting-edge facility is designed to soar to a height of 70 meters, doubling the fish capacity compared to Ocean Farm 1. Mariculture, the subsidiary overseeing the project, aims to achieve a maximum allowable biomass of 19,000 tonnes at the new location, showcasing a substantial increase in salmon production capacity.

Roy Reite, CEO at SalMar Aker Ocean, the parent company of Mariculture AS, expressed the importance of this development, stating, “This is an important step forward in order to realize the potential of offshore aquaculture.” He emphasized that the next crucial milestones involve clarifications regarding ground rent tax and the regulatory framework for offshore aquaculture.

The Smart Fish Farm project signifies a progressive move toward optimizing offshore aquaculture, underlining SalMar’s commitment to innovation and sustainable salmon farming practices.

04/10/2023 0 comment
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Malta International Fish Fest 2023 Celebrates Rich Fishing Heritage
NewsAquacultureInternationalTrade

Malta International Fish Fest 2023 Celebrates Rich Fishing Heritage

by Fishery News 02/10/2023
written by Fishery News

The 2023 edition of the Malta International Fish Fest took centre stage in the charming coastal town of Marsaxlokk on September 30th, followed by festivities in Mellieha, a picturesque village in northern Malta, on Sunday.

The festival, a lively celebration of Malta’s traditional fishing culture, aimed to raise awareness about the island’s deep-rooted maritime heritage. Attendees immersed themselves in the vibrant atmosphere, indulging in a unique opportunity to purchase an array of fresh seafood, savor local culinary delights, and partake in the joyous sounds of Maltese traditional music.

The event not only provided a platform for locals and tourists to appreciate the significance of fisheries in Malta but also showcased the resilience of a community deeply connected to its maritime roots. As the festivities unfolded, the coastal towns came alive with the spirit of the festival, becoming a melting pot of cultural exchange and gastronomic exploration.

02/10/2023 0 comment
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Driven by Rising Seafood Demand and Sustainable Practices
NewsInternationalTrade

Global Frozen Giant Tiger Shrimp Market Set to Reach USD 3.85 Billion by 2030

by Fishery News 30/09/2023
written by Fishery News

In a recent report by Virtue Market Research, the Global Frozen Giant Tiger Shrimp Market, valued at USD 2.2 billion, is projected to surge to USD 3.85 billion by the end of 2030, with a notable CAGR of 7.25% during the forecast period of 2023-2030.

A major factor propelling the market is the escalating worldwide demand for seafood products, with giant tiger shrimp gaining popularity due to its nutritional value and distinctive taste. This sustained demand has stimulated growth in shrimp farming and processing industries.

While the COVID-19 pandemic initially impacted the market negatively, causing disruptions in supply chains and altering consumption patterns, a resilient adaptation emerged. Focusing on frozen products for retail consumption helped stabilize the market, meeting the heightened demand for seafood in home-cooked meals during lockdowns.

In the short term, the rise of e-commerce and online grocery shopping is driving the Frozen Giant Tiger Shrimp Market. Companies are strategically investing in online presence and distribution networks to cater to consumers who prefer the convenience of ordering frozen shrimp and other food products online.

An exciting opportunity in the market revolves around sustainability and responsible sourcing. As consumers increasingly consider the environmental impact of their food choices, companies embracing sustainable shrimp farming practices and obtaining certifications like Aquaculture Stewardship Council (ASC) or Global Aquaculture Alliance (GAA) can tap into this growing market segment.

A notable trend is the emphasis on value-added products in the Frozen Giant Tiger Shrimp Market. Shrimp processors are innovating by offering pre-marinated, pre-cooked, or seasoned shrimp, providing quick and easy meal solutions. The introduction of new flavors and culinary inspirations is captivating food enthusiasts, driving further market growth.

In terms of farming methods, conventional shrimp farming remains the largest segment, owing to its well-established and widely adopted practices. However, the fastest-growing segment is organic shrimp, aligning with the increasing consumer preference for healthier and environmentally friendly choices. Organic shrimp farming, avoiding synthetic chemicals and antibiotics, resonates with the growing emphasis on eco-conscious food consumption.

30/09/2023 0 comment
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