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Nippon Suisan Announces 20% Price Raise of Fish Paste Products

September 1, 2008

Nippon-Suisan announced that the company would raise prices on fish paste and fish ham/sausage products by an average of 20 percent starting September 1, 2008; a result of relentlessly rising surimi costs. The company revised the standard and/or pricing.

The company targeted 41 products for the price raise: seven products from the fish ham/sausage product category; 29 from the household-use fish paste product category; and five from the professional grade fish paste product category.

With Alaskan Pollack displaying an abrupt price rise this spring (the season A), the company raised prices and revised the standard for some products in June. The company spoke of the season B; “We are anticipating another significant surimi price rise this autumn (the season B). It will be extremely difficult to continue to supply products, maintaining the current product quality and value.”

Original Article published on September 1, 2008; translated by Kiyo Hayasaka

July Seafood Imports Decline 5% to 245,000 Tons

September 1, 2008

The Japan Fish Traders Association released July seafood import volume results; the total volume was 245,124 tons with a 4.7 % decrease from the same period last year.

While salmon, trout, horse mackerel, and mackerel displayed increases in volume; yellowfin tuna, bonito, BBQ eel, as well as fishmeal drastically plunged. Despite a 3% increase in the unit price, a decline in the import volume resulted in a 1.8 % drop in total value to 137.4 billion yen.

The amount of salmon and trout jumped 30.5% to 20,000 tons. Sockeye salmon was 6,730 tons, up 37%; Coho salmon grew 2.2 times to 3,240 tons; and trout increased 31% to 4,520 tons. Frozen shrimp exhibited an increase of 9.3%, amounting to 19,000 tons.

The sardine yield amounted to 2,440 tons, 3.2 times as much as the same period last year; mackerel also grew 2.8 times, resulting in 4,000 tons; and horse mackerel was 3,560 tons with a tremendous increase of 73%. Conversely, yellowfin tuna drastically declined 46.8% to 3,430 tons; big-eyed tuna dropped 8.7%, totaling 8,200 tons; and bonito showed a 51.4% decrease, or 1,630 tons. BBQ eel, mainly from China, exhibited a significant drop of 71.1% to 1,080 tons. Fishmeal and fish flour declined 38.3%, ending in 25,740 tons.

Original article published on September 1, 2008; translated by Kiyo Hayasaka

Tokai-Denpun Announces Net Loss of \100 Million Due to Deceptive Labeling of Live Eel

September 1, 2008

Tokai-Denpun announced its consolidated financial figures for the period of July 2007 thru June 2008 on August 29, 2008. Total sales declined 1.9 percent to 151 billion yen from the previous year; operating profit was 2.537 billion yen, up 0.5 percent; recurring profit decreased 1.7 percent, totaling 3.118 billion yen; and the net deficit for this business term was 132 million yen, as opposed to net earnings of 1.873 billion yen last year.

A scandal involving the deceptive labeling of live eel products was attended by the closing of the business; and its facilities were disposed as an impairment loss. The forecast of this fiscal term is reported as follows: total sales of 152.6 billion yen; operating profit of 2.514 billion yen; recurring profit of 3.047 billion yen; and net earnings of 1.674 billon yen.

The company spoke of the financial results for this period; “Total sales of seafood products dropped 7.0 percent, ending in 86.9 billion yen. The scandal caused a slump in sales volume. Depleting supply and rising costs of surimi have led us to a decision to promote development of production centers. Rising prices of frozen fish contributed to growth of highly process-able products. Domestic fish farming business steadily grew. As far as bonito and tuna are concerned, price shift of seared fish, as commodity being unable to move smoothly, forced us to deal with the difficult business situation; however bonito flakes products exhibited favorable results.”

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