SEAFOOD UPDATE 09-01-2019

To place an order or make an inquiry

Call (347) 590 8007

Thursday, 09 Jan 2020

FOR ALL OUR BUYERS AND CHEFS:

MAHI MAHI

Mahimahi

Mahimahi is one of the most beautiful fish in the ocean. The lean, firm flesh has a sweet, mild flavor similar to swordfish. It has large, moist flakes. Mahi is great on the grill or for a taco.

ICELANDIC STEAK POLLACK

Steak _pollack
Steak Pollack are larger fish (10-15#) with a higher fat content. Flesh is firm, white and has a sweet, delicate flavor. It can be baked, broiled, sautéed, fried or steamed. Great way to help with food cost.

BRONZINO 600-800G

Bronzino

These fish, which average 1.5 lbs, have a firm, white, delicate flesh and few bones. Fat layer under the skin keeps this fish moist and sweet. It can be grilled, roasted, poached, steamed, or braised whole.

DOMESTIC SWORDFISH

Swordfish

Gorgeous local Swordfish in the house. Running strong. Moist, flavorful with a sweet taste. It has a great oil content and a firm, meaty texture. Grill it as a steak, cube it for kabobs or slice it thin for a crudo.

Winter Fish Update:

Salmon:
NEVER SAW SALMON #’s so HIGH” said our Salmon buyer. So we are averaging $$ with what’s in house Couple of SAMON issues -
a. Faroe Island fish problem with getting fish out due to weather
b. CHINESE NEW YEAR is in two weeks/
c. Numbers were stagnant, too low over summer close to cost and making up for it now /
d. Price fixing law suit. (see article)

“The numbers are very strong and this is what we’re hearing from other farmers as well. The Canadian guys have some fish, but not a lot. The Norwegians are dealing with severe weather issues whereas the rest of us here have some minor weather issues. Norway took their price up quite a bit due to their low supply and it seems the market is only increasing up to make up for this price gap. I am getting plenty of inquiries for fish at a time we were not expecting much”

The numbers are in complete contrast to the situation last summer, when prices dropped close to production cost levels, due mainly to higher output from rival countries. At the time the industry was worried about a slump in fortunes, but it never materialized. Seafood analysts are predicting record profits for the salmon farming industry in 2020, which should also benefit operations in nearby countries such as Scotland and the Faroe Islands. However, a similar situation was predicted this time last year, but few predicted the mid-summer prices slump waiting around the corner. And if the current upward price trend continues, it is likely to strengthen the increases.

Icelandic Cod:
Due to wind storms nothing has been able to fly out since Sunday. Small shipment confirmed for tonight. NO LOINS till Sunday ( trying for some from Boston for Friday/Saturday but there in the same boat because of back logs )

MORE COMING THURSDAY NIGHT FOR FRIDAY PRODUCTION, PRICE WILL be down. If Mother Nature cooperates with us it will be back down for next week, a week late but better than never.

ALL Other Southern Fish:
Due to weather and fishing crews taking extended holidays there has been much less fish available. This has been driving prices up for the last week or so. There should be some relief in the next week or so as the crews start pulling in some nice catches for us. Please call us here at Down East [347-590-8007] so we can assist you in picking fish specials that are running well to keep the cost to you lower.

Canadian Lawsuit Alleging Price-Fixing Amongst Norwegian Salmon Firms Seeks Class-Action Status

January 9, 2020 - Facing criminal investigations by the European Commission and the U.S. Department of Justice as well as a bevy of civil lawsuits filed in American courts, four Norwegian salmon-farming companies now must deal with additional civil action in Canada. A lawsuit filed on behalf of salmon consumer Irene Breckon of Elliot Lake, Ontario, was filed on 3 January in Federal Court in Toronto, according to the CBC. The suit seeks up to $382 million, alleging Mowi, SalMar, Lerøy Seafood, Grieg Seafood, engaged in a price-fixing agreement that resulted in higher prices for salmon products they sold in Canada.

Breckon’s lawyers are seeking class-action status for the suit, with the aim of including all consumers who purchased farmed salmon produced by the named parties after 1 July, 2015. "The defendants and their unnamed coconspirators control the Canadian salmon market through their market share," Toronto-based Sotos LLP said in its statement of claim. The allegations are based on an ongoing investigation by the European Commission that came to light when authorities raided several facilities belonging to the companies named in the suit. Throughout 2019, a series of lawsuits were filed in U.S. civil courts, while the U.S. Justice Department announced its own investigation in November 2019.

In emailed statements to the CBC, Grieg Seafood and Mowi acknowledged they were aware of the Canadian lawsuit. "We are not aware of any anti-competitive behavior, not in Norway, the E.U., the U.S.A. or Canada,” Grieg Seafood's Global Communications Manager Kristina Furnes said. “We are fully collaborating with European and American authorities in this matter. We will follow up the lawsuit accordingly." Mowi denied the existence of any conspiracy or its involvement in illegal behavior related to the allegations. "Mowi has not been involved in price-fixing or other anticompetitive conduct, and believe that the allegations are unfounded,” Mowi Group Communications Director Ola Helge Hjetland said.