EP 260 | AIRED 11/16/2015

Dungeness Crab Closures, Future of Seafood in Vietnam, Center of Plate Seafood Trends

November 16th, 2015 - Welcome to The Tradex Foods"3-Minute Market Insight" This is Robert Reierson and here is the seafood news for Monday November 16th, 2015.

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--- --- This is Robert Reierson and here is the seafood news for Monday November 16th, 2015. --- British Columbian Dungeness Crab vendors might be in luck this year, as closures further south bring opportunities to the area. After Domoic Acid was found in samples of Dungeness Crab, an indefinite delay in the Californian Fishery was imposed. We spoke to Hugh Link from the Oregon Dungeness Crab Commission, who does not foresee a need for a delay from their December 1st opening yet. Fishery Experts from DFO in B.C. also confirmed the Domoic acid has not travelled north. Christmas is the busiest season for whole cooked crab, and pricing is expected to rise as supply becomes short. --- The China Seafood Show wrapped up last week in the new exhibition center in Qingdao. Overall, it seems that Chinese suppliers are not optomistic for the future of the fish industry. Labor issues and faulty bank loans are still rampant in China, but there's hope for the Chinese domestic or export market as it continues to strengthen. We spoke to Vietnamese processors about the possibilities of production there instead of in China, and we found several challenges. Vietnamese Plants insist that raw materials are brought to them, to offset expensive freight costs from a infrequent and longer shipping lane. All byproducts must be used - Vietnam does not have the domestic market like China does, for items like bits and pieces, blocks, and breaded items. We think the future of the seafood business will be to move production to Vietnam, but it will take upwards of 10 years to establish the infrastructure and customer base that China currently has. --- Our TradexLIVE Offer of the Week is for 4oz and 8oz Atlantic Halibut Portions. These are #1 quality, IVP, twice frozen, boneless, DEEP skinned, Longline caught in the USA. We have 1,500 lbs of each size available for $13.40 / LB USD FOB Boston. Click or Tap the Icon above to view this Offer. --- Now over to Kyla for a look at center of the plate trends. --- Seafood is the most expensive of the four major proteins: poultry, beef, and pork. Overall meat consumption has declined since the early 2000s because of health concerns and tightened budgets after the recession. Unfortunately, sticker shock causes seafood to lose the battle for the centre of the plate. Price volatility, inexperienced home cooks, and contamination scares are among the factors hindering retail seafood sales. Food Service Reports show rising protein costs contribute to a shift in smaller portion sizing and menu items eliminated. Shrimp and Salmon are among the top ten items dropped from menus, demanding competitive pricing to retain center-of-the-plate real estate. This global shift encourages the need for Global Processors and other offshore processors to produce competitively priced options for the center of the plate. As Rob mentioned, perhaps new markets like Veitnam can satisfy smaller consumer budgets. --- Back to you Rob. ----Thank you for joining me for the Tradex Foods "3-Minute Market Insight" This is Robert Reierson - “BUY SMART” and “EAT MORE SEAFOOD

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