Latest Fishing News
22 September-12 October 2020
Pandemic Has Resulted in High Boost to Seafood Sales Worldwide

Grocery retailers around the world have realized a significant increase in seafood sales as consumers are cooking at home more due to COVID-19 shelter-in-place and dining restrictions.

Now, a new Global Aquaculture Alliance survey quantifies the surging retail demand. Survey respondents reported a “huge increase in seafood sales,” Spheric Research Founder Matt Craze wrote in an article published by GAA.

Craze will present the research findings at GAA’s GOAL virtual conference on Wednesday, 7 October.

For example, one U.S. supermarket chain reported a 40 percent increase in salmon and shrimp demand and said its snow crab sales doubled. Continue reading here (Source: SeafoodSource).
Tuna Exports From Vietnam to EU Expected to Reach USD$123 Million

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that the EVFTA has become effective from August 1 this year, with 220 seafood items with the base tax rates varying from zero percent to 22 percent. As for frozen tuna fillet, the export tariff will reduce to zero percent under a three-year tariff reduction schedule. It is an opportunity for enterprises to increase market expansion and make use of competitive advantages with other countries.

According to VASEP, in the context that the COVID-19 pandemic remains complicated, Vietnam's seafood exports, including tuna, have not escaped the crisis yet. However, with the EVFTA, it is forecasted that the total export value to the EU in the last three months of this year will increase slightly, or be equivalent to the third quarter of this year with about US$33 million, up 5 percent over the same period last year, sending Vietnam's tuna exports to the EU to reach around $123 million. Continue reading here (Source: SGGP).
Tuna Value Dropping, Industry Must Plan Ahead

Tuna is holding steady as a $40 billion-a-year business, but commercial fisheries worldwide are hauling in bigger catches of dwindling value, threatening the long-term survival of some species, according to a new report.

"Fisheries caught 500,000 more metric tons in 2018 than in 2012, but were paid $500 million less in dock value," study co-author Grantly Galland, an officer with The Pew Charitable Trusts' international fisheries group, told AFP.

Unless governments that regulate the industry through regional management bodies adopt long-term strategies, everything from supermarket tuna to $100-a-portion sashimi could wind up in short supply, the report warned. Continue reading here (Source: Bangkok Post).
Japan's Plan to Raise Pacific Bluefin Tuna Quota Rejected Again

An international panel rejected a Japan-proposed plan to increase catch quotas for Pacific bluefin tuna during an online conference on Thursday, the same outcome as at last year’s meeting, the country’s Fisheries Agency said.

The United States argued that tuna stocks continue to be scarce in the Pacific and objected to the proposal. Approval from all members of the Northern Committee of the Western and Central Pacific Fisheries Commission is required for a proposal to be passed.

Japan claimed that stocks of adult bluefin tuna have been recovering. It called for a 20 percent expansion in the respective quotas for fish above and below 30 kilograms. Continue reading here (Source: The Japan Times).
Chile Keeps Eye on Chinese Fishing Fleet Along South American Coast

The Chilean government is keeping close tabs on a large fleet of Chinese fishing vessels that has stirred up controversy further north along the Pacific coast of South America, Foreign Minister Andres Allamand said on Thursday.

Allamand said Chile´s Defense Ministry and Navy were monitoring the advance of the fleet in order to protect the “sovereignty” of the country´s exclusive economic zone.

The fleet consists of some 300 ships that frequent the Pacific Ocean, often around Peruvian waters, Allamand said. Continue reading here (Source: Reuters).
Palau's Giant New Marine Sanctuary Draws Criticism

Palau’s outgoing president, Tommy Remengesau, is being forced to defend a rising tide of criticism directed at a marine protected area previously considered a great national achievement.

The Palau National Marine Sanctuary (PNMS) has been hailed by the UN Ocean Conference as “one of the world’s most ambitious ocean conservation initiatives.” Fully operational since January 1, 2020, the sanctuary is designed to protect both Palau’s inshore fish stocks and the global tuna population.

Before its existence, local people fished mainly near the coast, while foreign fishing vessels were offshore, catching mostly yellowfin, skipjack and bigeye tuna for export. Continue reading here (Source: Maritime Executive).
ISSF Position Statement Outlines Top Asks for Indian Ocean Tuna Commission

The International Seafood Sustainability Foundation (ISSF) published its position statement in advance of the 24th Session of the Indian Ocean Tuna Commission (IOTC), which will take place virtually November 2-6.  

The impacts of COVID-19 have challenged regional fisheries management organizations (RFMOs) in conducting their meetings in 2020. IOTC cancelled its in-person annual Commission and Working Party meetings, which are now taking place online.

Even under these historically unique, pandemic-caused circumstances, ISSF believes IOTC must press forward on collaborative discussions and take decisions to ensure the uninterrupted, sustainable management of tuna stocks and marine ecosystems under its purview. Several critical measures and issues that require immediate attention and action by IOTC this year into 2021 are detailed in ISSF’s statement. Continue reading here (Source: Fish Information & Services).
Dongwon F&B: Earnings and Valuations Both at Comfortable Levels

Despite rising raw material costs and COVID-19 effects, Dongwon F&B likely maintained a stable OP trend in 3Q20 on business diversification. Noting rising sales portions for high growth businesses and the firm’s strong valuation merit, we believe that its current share price offers a good dip-buying opportunity. Continue reading here (Source: BusinessKorea).
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