Santa Monica Seafood’s revenue is expected to exceed USD 700 million (EUR 640 million) in 2023 as the seafood processor and distributor expands on the U.S. East Coast.
The Rancho Dominguez, California, U.S.A.-based firm surpassed USD 600 million (EUR 552 million) in revenue in 2022 and anticipates passing USD 700 million in revenue in 2023, President and CEO Roger O’Brien told SeafoodSource.
Instead of focusing on acquisitions this
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Several U.S. restaurant chains are featuring shrimp in new promotions – along with mahi, wahoo, and other fish.
Shrimp has become more popular among foodservice buyers as wholesale farmed shrimp prices have remained relatively steady over the past year, while other prices for other shellfish species have spiked.
While Charoen Pokphand Foods Executive Vice President Robins McIntosh predicted a slight decline in global farmed
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While 2022 was a challenging year for retail seafood sales due to inflation amongst other problems, retailers and analysts are optimistic for a brighter 2023.
Fresh seafood sales across retail outlets dropped 8.2 percent to USD 6.5 billion (EUR 6 billion) for the year ending 1 January, according to IRI and 210 Analytics. Frozen seafood realized a much smaller decline, falling 2.9 percent to around USD 7.1 billion (EUR 6.6 billion).
Shelf-stable
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The U.S. Department of Agriculture is continuing its purchase of U.S. seafood products this year, awarding salmon contracts worth more than USD 8 million (EUR 7.4 million) in early January 2023.
Seattle, Washington, U.S.A.-based OBI Seafoods will supply the USDA with nearly USD 6.4 million (EUR 6.9 million) in canned pink salmon and frozen salmon fillets, while Sitka, Alaska, U.S.A.-based Silver Bay Seafoods will supply nearly USD 1.7
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Higher ingredient costs will continue to plague restaurant operators in 2023, forcing them to streamline menus, according to several foodservice industry experts.
Their overall outlook for seafood on U.S. restaurant menus in 2023 is mixed, even as restaurant chains start out the new year with new seafood offerings.
“We expect seafood to continue to have a relatively flat operator penetration rate of change on restaurant menus over the next
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Most Norwegian salmon-farming firms have cut back on their infrastructure investments due to uncertainties caused by the introduction of a federal 40 percent tax proposal on aquaculture operations, but Indre Kvarøy, Norway-based Kvarøy Arctic is moving ahead with several multimillion-dollar projects.
1814 Salmon, a new company formed by Kvarøy, Fram Seafood, and investment firm Nyhamn, is building a NOK 100 million (USD
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Rich Products will continue to focus on growing sales in its consumer products division, which includes the SeaPak and Morey’s brands, after selling its Morey’s seafood distribution business.
In late December, Rich Products closed on a transaction to sell the distribution component of its Morey’s business – including its facility in Plymouth, Minnesota, U.S.A., – to Eddie M’s, a company led by Jordan Mazzetta,
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Seafood sales declined in December 2022 in the U.S., even with a boost from holiday-season splurging and a drop in inflation.
Fresh seafood sales through U.S. retail channels reached USD 522 million (EUR 486 million) in December, including a jump in sales from USD 103 million (EUR 96 million) during the first week of December to USD 181 million (USD 168 million) the week of 25 December, according to new data from IRI and 210 Analytics. However,
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Inflation has impacted Canadians’ grocery and restaurant spending over the past year, and is not expected to abate soon. A recent report predicts a 5 to 7 percent increase in overall food prices in 2023.
In Canada's Food Price Report 2023, experts from Dalhousie University, the University of Guelph, the University of Saskatchewan, and the University of British Columbia predict Canadian families will spend up to CAD
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Recognizing Britons’ continuing concerns about inflation, U.K. grocers are slashing prices on staple seafood products.
Rising inflation continued to impact U.K. seafood sales in December, which dropped despite being typically higher for the Christmas holiday. The overall chilled fish category in the U.K. realized a 1.3 percent drop in sales in the quarter ending in December 2022 compared to the same quarter in 2021, according to data
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