In the first 5 months of the year, the US exported 980 tons of scallops, worth 23.5 million USD. According to updated data from the US National Oceanic and Atmospheric Administration (NOAA), the average price of this commodity in 2022 is 23.96 USD/kg - a decrease of 18% in volume and 7% in value over the same period in 2021, in which the average price level increased by 14%.
The European Union is America's top scallop export market. In the first five months of this year, countries in the bloc bought 418 tons of scallops from the US worth $10 million, up 12% in volume and more than 24% in value over the same period last year. However, the second largest scallop export market of the US - Canada, imported only 305 tons, worth US$7.5 million, down 45% in volume and 37% in value.
Scallop export data is available for the most recent month - May, showing a similar downward trend in both export volume and value.
In May 2022, the European Union only imported 150 tons of scallops, worth $3.8 million from the US, down 21% in volume and 13% in value compared to May 2021. Similarly, this month, Canada imported 78 tons, worth $ 3.8 million, 38% less in volume and 36% lower in value compared to May 2021.
Newly updated NOAA data shows the trend of US scallop exports falling for the sixth consecutive year. In 2016, the US exported 8,271 metric tons of scallops, worth $149.5 million, but that number has continued to decline so far.
According to NOAA, in the first three months of the 2022 Atlantic scallop season, US farmers harvested nearly 13 pounds, 21% less than the 16 million pounds recorded in the first three months of 2021.
One reason for this decline is Adjustment Box 34 that NOAA announced at the end of March. NOAA announced it will reduce the number of oyster farming areas from four to three, in addition to reducing the maximum carrying volume from 18,000. pounds to 15,000 pounds per trip. The New England Fisheries Stewardship Council, which recommended the rules along with NOAA, decided to keep the allowable number of days at sea in a month at 24 days per vessel.
As a result, the main U.S. scallop fleet – which accounts for about 95% of the total catch – is expected to catch 29.8 million pounds (13,497 tons) of scallops in the 2022 season (ending Jan. March 31, 2023), 19% less than the 36.6 million pounds (16,601 tons) harvested in the 2021 crop.
According to NOAA, after 3 months, the harvest of scallops only reached 42% of the planned output for the year.
Scallop prices also recorded a decline. The average price for an American scallop - the most common size - at seafood auctions in New Bedford, Massachusetts for the week of 27, 2022 (July 4, 2022-July 10, 2022) was $11.42 /pound, down 55% from the average of $25.61/pound for week 52 (December 27, 2021 – January 2, 2022).
Due to the decrease in domestic volume, the US has continued to increase imports of scallops. In the first five months of the year, the country imported 13,949 tonnes of scallops, worth $208.8 million - up 33 percent in volume and 74 percent in value compared to the first five months of 2021.
Another factor that led to the increase in the decline in US scallop exports was the exchange rate. A stronger US dollar means weaker purchasing power for importers in other countries. For example, on July 18, 2022, 1 USD is equivalent to 0.99 EUR, up about 13% in 6 months and 138.22 JPY, up about 22% over the same period.
My Hanh (According to undercurrentnews)
