The U.S. Fish and Wildlife Service (USFWS) has recently issued a new rule that formally classifies cephalopods including squid, cuttlefish and octopus under the definition of "shellfish" in federal regulations. Set to take effect on July 23, the new rule aims to resolve longstanding regulatory ambiguities, eliminate overlapping oversight in import, export and inspection procedures, and cut trade costs for America’s cephalopod industry. The U.S. government estimates this single policy...

Norway’s mackerel exports remain sluggish, yet prices have failed to see any meaningful pullback. Week 23 data from the Norwegian Seafood Council shows weekly exports of whole frozen mackerel stood at 1,117 tonnes, roughly flat year-on-year. However, against a backdrop of drastically reduced available quotas for Norwegian mackerel this year, circulating supplies in the market stay tight. The FOB border price for whole frozen mackerel under 600 grams fell 12.4% week-on-week to NOK 45.00 per...

Pursuant to the latest ruling by Russia’s Federal Agency for Fisheries (Rosrybolovstvo), most fishing quotas held by Far Eastern fishery firm Dalrybprom have been officially revoked. Russian regulators ruled that the company is under de facto South Korean capital control and its awarded fishery resource quotas contravene provisions under Russian law. The ruling covers multiple key fishing grounds across Russia’s Russian Far East, including 26 percent of the Pacific cod quota in the West...