Vietnam's Seafood Exports Reaching $11BLN in 2022

Vietnam’s seafood exports this year could reach $11 billion for the first time, spearheaded by shrimp, pangasius and tuna, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Truong Dinh Hoe, VASEP general secretary, said at a conference in HCMC Saturday that by November, seafood exports had already crossed $10 billion, so by the end of the year, it could reach $11 billion for the first time.

The largest seafood export markets for Vietnam are the U.S., Japan, China and the EU. The EU, the U.S., and China account for 60% of the global seafood trade and 50% of Vietnam’s export turnover in the first ten months of this year. Continue reading here (Source: RetailNews Asia).

Fisheries Subsidies - Pacific Produce 60% of the World's Tuna

The Pacific, in particular the Western and Central Pacific, accounts for more than half of the world’s harvested tuna stock.

Minister for Commerce and Trade Faiyaz Koya highlighted this during the Special Forum World Trade Organization (WTO) Trade Ministers meeting in Nadi on Thursday.

“Approximately 60 per cent of the tuna stock is harvested from Pacific countries’ economic exclusive zone (EEZ),” he said. Continue reading here (Source: The Fiji Times).

Spain's Frinsa Plans US Tuna Cannery in Lakeland, Florida

A global seafood canning company that is investing $21 million in a plant near Kathleen High School and planning to employ up to 115 people is asking the city of Lakeland for a $400,000 incentive to help mitigate its impact fees.

The Lakeland Economic Development Council has been working with Frinsa, a fish and meat canning company based in Spain that was looking to create a plant in Florida. According to LEDC Senior Vice President Katie Decker, the company reached out to Enterprise Florida in Tallahassee, which directed company officials to several economic development councils in cities throughout the state. 

Otis Coracides, Frinsa’s managing director for the Lakeland operation, said in addition to Lakeland’s location along Interstate 4, near the Port of Tampa, and several airports and rail lines, Frinsa chose Lakeland because of the friendly welcome they have received. Continue reading here (Source: LkldNow).

Grupomar Reaffirms Its Commitment to the Oceans on World Fishing Day

Last Monday, November 21, World Fishing Day was celebrated. It is a very important day for fishing communities and it is that maintaining the health of the oceans and guaranteeing the sustainability of fish species is an arduous task.

For Grupomar, a company founded by Mr. Antonio Suárez Gutiérrez , this day is a key element for achieving the Global Goals of the United Nations Environment Organization , but at the same time it is a reminder that we must continue making efforts to change the way global fisheries are managed to ensure sustainable stocks and healthy ocean ecosystems. Continue reading here (Source: Cordopolis).

Frozen Tuna Prices Jump 60% in Japan

From COVID-19 to a weak yen, a confluence of global economic forces has led the price of one of Japan's favorite sushi toppings to surge.

Many chain sushi restaurants, izakaya pubs and other affordable eateries serve frozen bigeye tuna, a cheaper alternative to the fresh bluefin often served at high-end restaurants. The price for frozen bigeye averaged 1,443 yen ($10.20) per kilogram at Tokyo's Central Wholesale Market in September -- up 13% from a year earlier, and around 60% higher than two years ago.

The jump largely stems from disruptions to the fishing industry caused by COVID-19.

Continue reading here (Source: Nikkei Asia).