(vasep.com.vn) Southeast Asia is one of the leading regions in insect feed production thanks to favorable climate conditions and low labor costs. In Singapore, from June 19 to 22, 2024, the Asian Insect Food and Feed Association (AFFIA) organized the Insect Feed 2024 (IFW) Conference to discuss the current status of insect production in Asia and to set out expectations for the future.

AFFIA comprises members from many countries, including 11 members from Malaysia, 10 from Thailand, 9 from Indonesia, 6 from Singapore and 4 from other countries. AFFIA aims to promote collaboration among member countries to apply and scale up the use of insect protein in animal diets. AFFIA’s mission is to act as a bridge to bring the industry and related research closer to Asian countries and expand the scale of the industry.

The insect protein market in Asia has an estimated potential size of 19.3 million tonnes. In the animal feed industry, insect products provide protein-rich ingredients for poultry, livestock and aquaculture feed.

The recent EU approval of imports of insect feed products from Asia demonstrates the quality and reputation of the Asian insect feed industry.[...]

Source: VASEP

At a board meeting held in Tokyo on June 28th, National Sanma Pole Net Fisheries Cooperative (Zensanma) formally decided that for the 2024 fishing season, all vessels affiliated with the union would set out on August 10th, instead of gradually setting out according to the tonnage of the fishing vessels, and that operations in Japanese waters would continue on the usual fishing day. In addition, operations in Russian waters based on the Japan-Russia offshore fisheries negotiations will be shortened by half a month from last year, to just one month from October 1st to 31st.

During the 2023 fishing season, the departure dates for all fleets were postponed to August 10 for vessels between 10 and 20 tons, August 15 for vessels between 20 and 100 tons, and August 20 for vessels over 100 tons. Since then, there have been no changes to the departure dates for the full-scale fishing season from August onwards for over 10 years, until the 2023 fishing season.

In recent years, the main fishing grounds at the beginning of the fishing season have been in the high seas far off the coast of Japan, and in order to gain an advantage in discussions at the North Pacific Fisheries Commission (NPFC), it has become necessary to compile data on fishing operations in the high seas

Source: Suisan Keizai (translated from original in Japanese)

TEHRAN (MNA) – The director general of the Iranian Ministry of Agriculture’s Office of Quality Improvement, Processing, and Aquatic Market said $650 million of aquatics was exported from the country in the previous Iranian year (1402).

Abbas Mokhtari said 139,000 tons of fishery products, valued at $528 million, were exported from the country between March 21, 2020 and March 20, 2021.

Regarding the trade of aquatics and fishery products during President Ebrahim Raeisi's administration’s term, he said that 210,000 tons of the fishery products, valued at $650 million, were exported from the country in the previous Persian calendar year (ended March 19, 2024).

Mokhtari further pointed out that effective steps were taken in the administration of the late President Raeisi to spur the production and export of aquatics.

SD/TSN

IFFO – The Marine Ingredients Organisation will hold the 7th IFFO Marine Ingredients China Workshop on 3rd September. The event will take place in Xiamen, a coastal city of Fujian province, South China, which has the second-longest coastline in China and is emerging as a prominent player in China’s marine economy. An offline event, it is open to both IFFO members and non-members.

The full-day workshop will start on 3rd September at 9:00 Beijing Time.

Maggie Xu, China Director at IFFO: “China is the world’s largest producer of aquatic animals and the largest user of fishmeal. In 2021, over 2 million tonnes of fishmeal use occurred in China, with over 1.8 million tonnes of fishmeal imported to China in 2021. The workshop will feature 7 speakers who will share their insights into fishmeal applications in China, the global marine ingredients and omega-3 markets, with some deep dives into India and China’s markets, and fishmeal and fish oil production in Peru”.

The full agenda can be accessed here. Delegates may register here, the deadline of which is 23rd August, Beijing time.

Recent economic uncertainties and geopolitical tensions have forced Chinese people to tighten spending, especially on luxury goods, including high-end seafood.

China has long been a major consumer market for luxury goods, however, according to a newly published report by investment bank Natixis (headquartered in Paris, France), due to economic instability and geopolitical tensions, Chinese people have had to tighten their spending, especially on luxury goods, including high-end seafood. 

While luxury spending in the country will remain high in 2024 – at 12% compared to the global average of 9% – it will be down from 2023. This is a worrying sign for high-end seafood exporters to China, such as French oyster brand Gillardeau. To boost sales, they teamed up with winemakers at a recent wine tasting in Beijing’s Jinbao Street. Attendees paid 588 yuan ($82.30) for the two-hour event, where they tasted French oysters and drank wines from Bordeaux, Burgundy, the Loire Valley, and the Rhone.

“A weaker yuan and low inflation in China mean higher costs for luxury goods, discouraging middle-class consumers. Boosting luxury spending in China will be an uphill battle.”

Source: VASEP (Translated from original in Vietnamese)

The seafood market shows growing evolution thanks to "snackification", "premiumization", and Internet purchases that drive the market.

The recent report “Oceans of Change: Seafood Trends for 2024”, prepared by the Norwegian Seafood Council (NSC), shows that three out of four consumers choose their establishment based on the assortment of seafood products available. This desire for variety, coupled with growing interest in healthy proteins and ready-to-eat foods, is driving greater snacking and innovation in the seafood sector.

Source: EuropaAzul | Read the full article here

Salmon farmer Bakkafrost Scotland harvested 11,400 gutted weight tonnes of fish in the second quarter of this year, Faroese parent company Bakkafrost said in a trading update.

Bakkafrost Scotland’s Q2 harvest volume was 55% higher than the 7,343 gwt harvested in the same period last year, in line with its policy of harvesting 70-75% of its annual volume in the first half of the year to avoid environmental challenges that have been more prevalent in Q3.

Source: FishFarmingExpert | Read the full article here

Elverta, California, U.S.A.-based Sterling Caviar entered receivership in April 2024, with creditors claiming the company owes them more than USD 23 million (EUR 21.5 million).

Numerous lawsuits involving the company dating back to 2020 reveal significant financial issues plagued it for years, and may continue to complicate its existence as its ownership pursues a path forward.

Author/Source: Cliff White / SeafoodSource | Read the full article here

SFP’s 2023 Target 75 Sectors Status Update shows increase in sustainable or improving production across most sectors.  A new report by Sustainable Fisheries Partnership (SFP) finds that, while there is a general upward trend in production from sustainable or improving sources across most seafood sectors, some sectors and regions still face challenges that hinder sustainability.

SFP’s annual T75 Sectors Status Update highlights progress toward the goals of the organization’s Target 75 (T75) initiative, which aims to ensure that 75% of seafood production by volume in 13 key sectors is sustainable or making regular, verifiable improvements

Source: FishFocus | Read the full article here

The Minister of Agriculture, Food and the Marine of Ireland, Charlie McConalogue, has announced the opening of two new financing plans within the framework of the Fisheries Products Development Programme, endowed with 258 million euros, co-financed by the Government of Ireland and the EU within the framework of the European Maritime, Fisheries and Aquaculture Fund 2021-2027 (EMFA). These new plans are added to the four plans that opened on June 25.

Source: IndustriasPesqueras | Read the full article here