Daily recap: Week 11 US wholesale prices; Main US seafood exports escape EU’s €18bn tariffs
Here's a recap of the top daily seafood stories from Wednesday, March 12.
Undercurrent?News'?week 11 (March 10-16)?US wholesale price assessments?for various key commodities are available on our new platform.
The EU has launched the process of imposing additional countermeasures on the US, and though it said it had been set to target "certain seafood" products as part of a package to tariff approximately €18 billion ($19.6bn) worth of goods, in fact, seafood is essentially absent from the list of targets.
The prices for headed and gutted Russian pollock have fallen further, driven by the lack of certainty around double-frozen fillet contracts from Chinese processors, sources told Undercurrent.
US buyers of Canadian snow crab no doubt wish the 2025 seasons in Newfoundland and Labrador and the Gulf of St. Lawrence would have started already, given the exhausted supply apparent in the latest US import figures.
Prices for seabass and seabream are expected to continue their upward trend, driven by a combination of low supply, rising production costs in Turkey, and good demand across Europe and the US.
The Fisheries Council of Canada, a national group that has been representing fishing companies and harvesters across Canada since 1915, is warning that China's 25% tariffs on Canadian seafood will have a catastrophic impact on companies that rely heavily on the Chinese market.
A new study by the Global Shrimp Forum Foundation highlights that while Americans love shrimp, concerns over price and cooking familiarity are limiting its potential as an everyday protein choice.