Latest Fishing News
August 20-26, 2019
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New, Higher Tariffs Could Raise the Prices of These Chinese Seafood Products Including Tuna and Shrimp
Soon, it may be hard to find a Chinese-made product on a store shelf that doesn't have a higher price tag because of new U.S. tariffs.
President Donald Trump announced double-barreled new tariffs on Chinese imports Friday after Beijing said it would retaliate against Trump's latest duties with its own tariffs on $75 billion in U.S. products.
Continue reading here
(Source: USA Today).
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Coast Guard on Long Patrol Against Illegal Fishing in North Pacific
The cooperative effort targets uncontrolled distant-water fishing vessels, and tracks the business networks of carrier ships and fuel bunkering tankers that support them. Illegal, unreported and unregulated fishing, or IUU, operates outside the territorial waters jurisdiction of coastal nations.
But not beyond the reach of international law and cooperative regulation by fishing nations. In the North Pacific, that is what the North Pacific Fisheries Commission does.
The youngest of world’s ocean-spanning management groups, the NPFC only got started in 2015. It includes representation from Canada, China, Japan, the Republic of Korea, the Russian Federation, Chinese Taipei, the United States of America, and Vanuatu.
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(
Source: National Fisherman).
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Brexit Can Significantly Increase Tuna Prices
The countdown of the UK departure from the EU will actually begin - the deadline is 11 noon (London time) on October 31, 2019 - and the country is worried that it will face the Brexit without any agreement. Enterprises and consumers are stocking basic goods, such as canned tuna, for fear of lack of food. Moreover, the free movement of goods will be significantly affected when it takes more time for sea and port inspections for imported products into the EU, including foreign tuna suppliers.
The Devaluation of the Pound
The British pound is affected by this unstable situation, currently the currency is at its lowest level in the past 2 years with GBP / EUR of 1.08 and GBP / USD at 1.21. This is a big boost to British pockets because this shows the value of the pound against the dollar by 18.4% and against the EUR by 15.5% since June 2016 when He voted out of the EU. This has caused importers to spend more money to buy canned tuna.
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Japan Seen Facing Headwind over Tuna Quota Proposal
TOKYO (Jiji Press) — Japan is seen facing a headwind over its proposal to expand catch quotas for Pacific bluefin tuna at a forthcoming international meeting, as the United States is likely to reject it.
The proposal will be discussed at a four-day meeting of the Northern Committee of the Western and Central Pacific Fisheries Commission in the U.S. city of Portland from Sept. 3.
Japan is calling for a quota increase of 10 percent for small Pacific bluefin tuna weighing less than 30 kilograms and 20 percent for larger tuna.
Japan, a major consumer of the fish, which is popular at sushi restaurants, cites recovery in the stock of juvenile fish in 2017 and 2018.
Continue reading here
(
Sourc
e: The Japan News).
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Oil drops 1% as Possible US-Iran Meeting Raises Oversupply Concerns
Oil prices edged lower on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by growing hopes that the United States and China could make a deal to end their trade war.
Brent crude fell 54 cents to $58.80 a barrel, after earlier hitting a session high of $60.17. U.S. West Texas Intermediate (WTI) crude futures fell 53 cents, or 1%, to settle at $53.64 a barrel, after reaching $55.26 a barrel.
Prices fell after French President Emmanuel Macron said preparations were underway for a meeting between Iranian President Hassan Rouhani and U.S. President Donald Trump in the coming weeks to find a solution to a nuclear standoff.
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