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Monday, January 29, 2024

Alaska Commerce Department to give King Cove $888,789 to support Aleutians East fishing industry KUCB by Theo Greenly - January 24, 2024  The U.S. Department of Commerce is giving the Aleutian Islands community of King Cove $888,789 for harbor improvements. West Coast Biden-Harris Administration announces $27 million for transformational science supporting recovery of threatened and endangered Pacific salmon Funding from Investing in America agenda will support management decisions in a changing climate NOAA Fisheries - January 26, 2024 Today, the Department of Commerce and NOAA announced plans for $27 million to recover threatened and endangered Pacific salmon in the face of climate change. These funds, part of President Biden’s Investing in America agenda, are made possible by the Inflation Reduction Act — the largest investment in climate action ever. This investment in science will support informed management actions as a component of NOAA’s comprehensive strategy for Pacific salmon recovery. West Coast Groundfish Survey Reveals Gloomy Economic Outlook for 2024 by Susan Chambers - January 29, 2024 Positively Groundfish, a non-profit organization dedicated to promoting the sustainable and economic success of the West Coast groundfish fishery, recently released the findings of its annual Economic Outlook Survey. The survey, conducted with industry participants, indicates a growing sense of economic concern and pessimism among leaders in the groundfish industry as they look ahead to the coming year, according to Positively Groundfish.Key takeaways from the survey results include:1. We see accelerating pessimism across the industry, with 55% expecting a worse year for the U.S. seafood industry, and 52% anticipating a decline of West Coast groundfish;2. Participants’ outlook for their own organization is at its most pessimistic in five years, surpassing levels seen during the height of the pandemic in 2020;3. Fishermen are the most pessimistic, even more so than in previous years, while processors show cautious optimism. Additionally, community supported fisheries/direct-to-consumer (CSF/D2C) businesses remain the most positive;4. Half of respondents expect a decline in revenue for 2024, primarily driven by anticipated drops in fish prices (65%). Inflation pressures ease, but profit expectations remain low;5. Expectations for investments in West Coast groundfish operations are muted, signaling uncertainty and potential challenges in generating future consumer demand;6. The majority expects groundfish to remain or grow in importance for their organizations, highlighting commitment to the fishery amid challenging conditions;7. Labor availability, a historical bottleneck, is no longer a significant growth restrictor, but this could signify industry contraction;8. Two-thirds of participants report underutilization of production equipment, indicating potential for growth without substantial investments;9. Underutilization of West Coast groundfish remains a concern, with 71% reporting excess availability relative to demand, putting downward pressure on prices and profitability; and10. Economic factors dominate as key challenges, with domestic economic conditions taking the lead. International competition and changing consumer preferences emerge as significant concerns, while concerns about labor availability and infrastructure fade.For more information on the survey and Positively Groundfish, visit International Why is Alaska's dominance in Japanese surimi market under threat?Russia’s surimi paste exports are rising exponentially after first entering the market just five years ago. Intrafish by Rachel Sapin - January 27, 2024 Russian imports of pollock surimi paste into Japan -- the largest market for US surimi imports -- have gained serious momentum over the past four years since Russia invested in the product. *Requires Subscription

Pacific Seafood Processors Association 1900 W Emerson Place Suite 205, Seattle, WA 98119 Phone: 206.281.1667E-mail:; Website: Our office days/hours are Monday-Friday8:00 A.M. - 5:00 P.M. In accordance with Title 17 U.S.C. Section 107, any copyrighted work in this message is distributed under fair use without profit or payment to those who have expressed a prior interest in receiving this information for non-profit research and educational purposes only. *Inclusion of a news article, report, or other document in this email does not imply PSPA support or endorsement of the information or opinion expressed in the document.


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