SQUID, OCTOPUS, HERRING & MACKEREL PANEL · 2002. 2003. 2004. 2005. 2006. 2007. 2008. 2009....

SQUID, OCTOPUS, HERRING & MACKEREL

PANEL

January 19, 2016Miami, FL

Egil Sundheim

Jim Kenny

Mike Daniels

Ruth Levy

Brady SchofieldFerran Pauner

THE SQUID, OCTOPUS, HERRING & MACKEREL PANEL

2

OVERVIEWGlobal Cephalopod Production (MT)

• Global Landings 2013• 4 Million Tons• 4.2% of Total Wild Landings

• Squid 2,920,000 tons• Octopus 347,000 tons• Cuttlefish 322,000 tons• NSPF 430,000 tons

3

Source: FAO

SQUID OVERVIEW

4

SQUID OVERVIEWGlobal Squid Production (MT)

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 *2014 *2015

World Squid Production (MT)

Source: FAO and Urner Barry; *Estimates

5

SQUID OVERVIEWGlobal Squid Production (MT)

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

World Squid Production by Country (MT)CHINA

PERU

KOREA, REPUBLIC OF

JAPAN

ARGENTINA

INDONESIA

TAIWAN PROVINCE OF CHINAUNITED STATES OF AMERICATHAILAND

CHILE

RUSSIAN FEDERATION

MALAYSIA

PHILIPPINES

SPAIN

FALKLAND IS.(MALVINAS)

MOROCCO

Source: FAO

6

SQUID OVERVIEWGlobal Production by Species

2009-2013DOSIDICUS GIGAS

VARIOUS SQUIDS NEI

ILLEX ARGENTINUS

TODARODES PACIFICUS

COMMON SQUIDS NEI

LOLIGO OPALESCENS

BERRYTEUTHIS MAGISTER

LOLIGO GAHI

NOTOTODARUS SLOANI

ILLEX ILLECEBROSUS

LOLIGO PEALEII

SEPIOTEUTHIS LESSONIANA

OMMASTREPHES BARTRAMII

ILLEX COINDETII

LOLIGO REYNAUDII

TODARODES SAGITTATUS

INDIAN SQUID

LOLIGO FORBESII

LOLIGO VULGARIS

ONYKIA INGENS

Source: FAO

7

Dosidicusgigas

Illex argentinus

Todarodespacificus

Ommastrephesbartramii

Loligo edulis Loligo gahi

Loligo pealeiLoligoopalescens

SQUID OVERVIEW

8

SQUID OVERVIEWUS Squid Production (MT)

Source: NOAA, NMFS and Urner Barry

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

9

SQUID OVERVIEWUS Squid Imports (MT)

Source: US Census and Urner Barry’s Foreign Trade Data; *Estimate

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

10

SQUID OVERVIEWUS Imports by Country (MT)

Source: US Census and Urner Barry’s Foreign Trade Data; *Estimate

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

CHINA (MAINLAND)

KOREA, REPUBLIC OF

ARGENTINA

CHINA (TAIWAN)

INDIA

OTHERS

PERU

THAILAND

11

SQUID OVERVIEWUS Squid Exports (MT)

Source: US Census and Urner Barry’s Foreign Trade Data; *Estimate

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

12

SQUID OVERVIEWUS Exports by Country (MT)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

CHINA (MAINLAND)

SPAIN

PHILIPPINES

JAPAN

ITALY

UNITED KINGDOM

MEXICO

AUSTRALIA

GREECE

CANADA

FRANCE

NETHERLANDS

OTHERS

Source: US Census and Urner Barry’s Foreign Trade Data

13

SQUID OVERVIEWU.S. Net Supply

Source: US Census, NMFS, and Urner Barry’s Foreign Trade Data

2010 2014

MTMILLION

LBS MTMILLION

LBSDomestic Landings 153,945 339 121,030 267

Exports 136,972 302 120,750 266

Imports 66,533 147 69,153 152

NET SUPPLY 73,322 162 69,265 153

“We don’t eat squid, we eat Calamari”

.24 lb. per capita estimated consumption

0.000

0.050

0.100

0.150

0.200

0.250

0.300

2010 2011 2012 2013 2014

US Consumption (LB)

14

SQUID OVERVIEWMarket Price Study

Source: Urner Barry

$1.20

$1.60

$2.00

$2.40

$2.80

$3.20

$3.60

$4.00

Mar 10 Sep 10 Mar 11 Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 Sep 14 Mar 15 Sep 15

T&T TUBES RINGS R&T STEAKS

15

SQUID OVERVIEWMarket Price Study

Source: Urner Barry

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

Jan-

10M

ar-1

0M

ay-1

0Ju

l-10

Sep-

10N

ov-1

0Ja

n-11

Mar

-11

May

-11

Jul-1

1Se

p-11

Nov

-11

Jan-

12M

ar-1

2M

ay-1

2Ju

l-12

Sep-

12N

ov-1

2Ja

n-13

Mar

-13

May

-13

Jul-1

3Se

p-13

Nov

-13

Jan-

14M

ar-1

4M

ay-1

4Ju

l-14

Sep-

14N

ov-1

4Ja

n-15

Mar

-15

May

-15

Jul-1

5Se

p-15

T&T, THAILAND, 3-5 IN T&T, CHINA, 3-5 IN.

16

MenuTrendsPENETRATION vs. 2011vs. 20141

year

4 ye

ar

Growth rate (relative % change)

23.1%West

20.4% Midwest

21.9% South

31.1% Northeast

Rest

aur

ant

Typ

eRe

gion

19.8%

22.6%23.8%

25.9% 25.7% 25.9% 26.4% 26.6% 26.1% 25.6% 25.8%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Historic Penetration Growth

25.8%0.5%

SQUID OVERVIEWCALAMARI | Overview -2.3%

7.9% 3.8%

22.5%

39.1%

52.1%

5.7%

21.5%30.9%

QSR Midscale Fine Dining NationalChains

Indep.

17

Menu Types

Fried Protein App 43.6%

Shellfish Main Entrée 13.5%

Combos/ Multi Protein 7.9%

Pasta 7.0%

Non-Fried Protein App 4.7%

Sampler 4.4%

Salad Entrée 4.1%

Entrée Stew / Soup / Chili 3.5%

Other Entrée 2.3%

Protein Side 2.0%

Rice Entrée 1.8%

Deli Salad Appetizer 0.9%

Pizza 0.6%

Appetizer Salad 0.5%

Other App 0.5%

Mexican 0.5%

Fish Main Entrée 0.4%

Hot Sandwich 0.3%

Other 1.3%

Applications

Fried 62.5%

Fried calamari 61.5%

Sauce 58.3%

Red sauce 34.0%

Shrimp 33.5%

Pepper 26.1%

Marinara 26.0%

Spicy 25.3%

Lemon 21.0%

Garlic 20.8%

Crispy 18.5%

Noodle 18.0%

Tomato 17.7%

Mussel 17.3%

Lightly 17.2%

Fresh 17.2%

Scallop 17.0%

Clam 16.6%

Seafood 16.4%

Top Paired Flavors% of menu items that are… % of menu items that also include…

1.3%

0.5%

0.5%

0.7%

0.8%

1.2%

1.3%

1.8%

2.4%

2.7%

3.3%

4.1%

4.5%

5.4%

5.6%

8.1%

11.2%

12.3%

32.1%

Other

Caribbean

Other European

French

Southern

Central & So America

Sandwich

Mediterranean

Other Asian

Steakhouse

Mexican

Japanese

Mixed Ethnicity

Thai

Chinese

Seafood

Pizza

American

Italian

% of menu items served at…

SQUID OVERVIEWCALAMARI | Cuisines & Applications

18

9.6%

9.8%

10.3%

11.1%

10.6%10.7%

10.2%

10.5%10.6%

10.5% 10.5%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

MenuTrendsPENETRATION vs. 2011vs. 20141

yea

r

4 ye

ar

Growth rate (relative % change)

9.5% West

6.6% Midwest

6.7% South

11.9% Northeast

Rest

aur

ant

Typ

eRe

gion

10.5%-0.4%

SQUID OVERVIEWSQUID | Overview 2.4%

3.3% 1.6%

13.8% 13.6%

19.4%

0.0%

5.0%

16.3%

QSR Midscale Fine Dining NationalChains

Indep.

Historic Penetration Growth

19

Menu Types Applications% of menu items that are… % of menu items that also include…% of menu items served at…

Shellfish Main Entrée 39.6%

Fried Protein App 9.5%

Pasta 9.4%

Entrée Stew / Soup / Chili 7.9%

Other Entrée 6.7%

Salad Entrée 5.6%

Rice Entrée 5.3%

Non-Fried Protein App 5.3%

Combos/ Multi Protein 4.3%

Deli Salad Appetizer 1.4%

Protein Side 1.2%

Other App 1.1%

Fish Main Entrée 0.4%

Veggie Main Entrée 0.4%

Sampler 0.3%

Mexican 0.2%

Appetizer Soup / Chili 0.2%

Appetizer Salad 0.2%

Other 1.0%

Sauce 47.2%

Shrimp 44.8%

Fried 40.3%

Spicy 35.8%

Scallop 33.0%

Seafood 29.7%

Calamari 25.0%

Pepper 24.6%

Noodle 23.0%

Garlic 22.4%

Hot 21.6%

Onion 20.4%

Sauteed 19.6%

Vegetable 19.3%

Mussel 18.9%

Fried squid 18.7%

Salad 18.5%

Fresh 17.5%

Fish 16.5%

SQUID OVERVIEWSQUID | Cuisines & Applications

1.0%

0.3%

0.4%

0.6%

0.7%

0.9%

0.9%

1.3%

1.3%

1.5%

1.5%

2.2%

2.7%

3.3%

8.0%

9.5%

11.6%

25.9%

26.3%

Other

Coffee & Bakery

Steakhouse

Caribbean

Pizza

Indian

Other European

Mixed Ethnicity

Mediterranean

American

Seafood

Korean

Central & So America

Mexican

Other Asian

Italian

Japanese

Chinese

Thai

Top Paired Flavors

20

21

22

23

24

SQUID OVERVIEWSquid Discussion

25

OCTOPUS

26

OCTOPUS OVERVIEWGlobal Octopus Production (MT)

Source: FAO and Urner Barry

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 *2014 *2015

27

OCTOPUS OVERVIEWGlobal Octopus Production (MT)

Source: FAO

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

CHINA

MOROCCO

JAPAN

MEXICO

MAURITANIA

KOREA, REPUBLIC OF

SPAIN

PORTUGAL

INDONESIA

THAILAND

ITALY

PHILIPPINES

TUNISIA

SENEGAL

GREECE

FRANCE

BRAZIL

MALAYSIA

CHILE

TANZANIA, UNITED REP. OF

OTHERS

28

OCTOPUS OVERVIEWGlobal Octopus Distribution

Octopus Landings in 2013: Geographic ViewTotal Octopus Landings (Tons) / FAO Area

29

OCTOPUS OVERVIEWUS Octopus Imports (MT)

Source: US Census and Urner Barry’s Foreign Trade Data

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

22,000

24,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

30

OCTOPUS OVERVIEWUS Imports by Country (MT)

Source: US Census and Urner Barry’s Foreign Trade Data

0

1,000

2,000

3,000

4,000

5,000

6,000

2010 2011 2012 2013 2014 *2015

PHILIPPINES

SPAIN

CHINA (MAINLAND)

INDONESIA

THAILAND

INDIA

PORTUGAL

MEXICO

VIETNAM

JAPAN

MALAYSIA

PERU

OTHERS

31

OCTOPUS OVERVIEWMorocco Octopus

32

OCTOPUS OVERVIEWMarket Price Study

Source: US Census and Urner Barry’s Foreign Trade Data

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

$4.50

Mar 10 Sept 10 Mar 11 Sept 11 Mar 12 Sept 12 Mar 13 Sept 13 Mar 14 Sept 14 Mar 15 Sep 15

PHILIPPINES SPAIN INDIA INDONESIA THAILAND

33

4.5%

5.0% 5.0%5.4% 5.4% 5.5%

5.9% 5.9%6.3%

7.4% 7.5%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

MenuTrendsPENETRATION vs. 2011vs. 20141

yea

r

4 ye

ar

Growth rate (relative % change)

6.8%West

4.3% Midwest

5.4% South

8.9% Northeast

Rest

aur

ant

Typ

eRe

gion

Historic Penetration Growth

7.5%2.2%

OCTOPUS OVERVIEWOCTOPUS | Overview 28.6%

1.5% 1.3%6.3%

10.5%

24.1%

0.0%4.0%

11.4%

QSR Midscale Fine Dining NationalChains

Indep.

34

Menu Types Applications% of menu items that are… % of menu items that also include…% of menu items served at…

Top Paired Flavors

Shellfish Main Entrée 32.3%

Non-Fried Protein App 26.4%

Combos/ Multi Protein 9.6%

Salad Entrée 7.4%

Deli Salad Appetizer 4.2%

Entrée Stew / Soup / Chili 3.5%

Pasta 2.9%

Other App 2.5%

Other Entrée 1.8%

Rice Entrée 1.4%

Fried Protein App 1.3%

Sampler 1.1%

Appetizer Salad 0.9%

Fish Main Entrée 0.9%

Mexican 0.9%

Protein Side 0.9%

Fried Other App 0.8%

Appetizer Soup / Chili 0.4%

Other 1.0%

Sushi 28.1%

Shrimp 27.3%

Salad 25.1%

Grilled 24.3%

Sauce 18.9%

Baby 16.9%

Sashimi 15.8%

Tomato 15.3%

Potato 14.2%

Lemon 13.9%

Fish 13.9%

Grilled octopus 12.6%

Onion 12.0%

Spicy 11.5%

Red 11.2%

Clam 11.2%

Scallop 11.2%

Pepper 11.2%

Vinaigrette 10.9%

OCTOPUS OVERVIEWOCTOPUS | Cuisines & Applications

0.4%

0.5%

0.6%

1.0%

1.1%

1.1%

1.4%

1.5%

1.6%

2.0%

3.0%

4.4%

4.5%

4.7%

5.0%

9.6%

13.1%

16.5%

27.9%

Other

Coffee & Bakery

Other European

Sandwich

French

Central & So America

Steakhouse

Korean

Pizza

Seafood

Thai

Mixed Ethnicity

Other Asian

American

Mediterranean

Chinese

Mexican

Italian

Japanese

35

36

37

OCTOPUS OVERVIEWOctopus Discussion

38

HERRING

39

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000Atlantic and Pacific

HERRING OVERVIEWGlobal Herring Production (MT)

Source: FAO and Norwegian Seafood Council

40

HERRING OVERVIEWHerring Trade

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

2005 2010 2013 2014

Import Nations - MT

LITHUANIA

UKRAINE

EGYPT

POLAND

DENMARK

NETHERLANDS

RUSSIAN FEDERATION

CHINA, PEOPLE'S REPUBLIC OF

GERMANY

NIGERIA

Source: Norwegian Seafood Council

41

HERRING OVERVIEWHerring Trade

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

2005 2010 2013 2014

Supplying Nations - MT

OTHERS

CANADA

FAROES

ICELAND

USA

CHINA

RUSSIA

NORWAY

EU27

Source: Norwegian Seafood Council

42

HERRING OVERVIEWHerring Market Price Study (Atlantic)

$0.40

$0.80

$1.20

$1.60

$2.00

$2.40

$2.80

Mar 11 Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 Sep 14 Mar 15 Sep 15

Average Import Price USD/KILOFROZEN FILLET FROZEN WHOLE

Source: Norwegian Seafood Council

43

HERRING OVERVIEWUS Landings Herring (MT)

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Source: NOAA, NMFS

44

HERRING OVERVIEWUS Herring Imports (MT)

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

Source: US Census and Urner Barry’s Foreign Trade Data; *Estimate

45

HERRING OVERVIEWUS Imports by Type 2011-2015

3%

12%

8%

62%

15%

FRESH OR CHILLED FISH

FROZEN FISH

CURED OR SMOKED FISH

CANNED OR PREPARED FISH

NOT FOR HUMAN CONSUMPTION

Source: US Census and Urner Barry’s Foreign Trade Data

46

HERRING OVERVIEWUS Herring Exports (MT)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

HERRING ROE, CURED

HERRING FILLET, FROZEN

HERRING ROE, FROZEN

HERRING, FROZEN

HERRING, FRESH

Source: US Census and Urner Barry’s Foreign Trade Data; * Estimated

47

HERRING OVERVIEWUS Herring Exports (MT)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

JAPAN CHINA (MAINLAND) CANADA OTHERS

Source: US Census and Urner Barry’s Foreign Trade Data; * Estimated

48

HERRING GERMANY

49

HERRING RUSSIA

50

HERRING RUSSIA

51

HERRING SCANDINAVIA

52

HERRING AND OTHER FISH DELICACIES IN LATVIA

53

HERRING OVERVIEWHerring Discussion

54

MACKEREL

55

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 *2014 *2015 *2016

MACKEREL OVERVIEWGlobal Production (MT)

Chub and Atlantic

Source: FAO and Norwegian Seafood Council

56

MACKEREL OVERVIEWMackerel Trade

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

2005 2010 2013 2014

Import Nations - MT

UNITED KINGDOM

POLAND

INDONESIA

THAILAND

JAPAN

EGYPT

RUSSIAN FEDERATION

CHINA, PEOPLE'S REPUBLIC OF

NETHERLANDS

NIGERIA

Source: Norwegian Seafood Council

57

MACKEREL OVERVIEWMackerel Trade

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

2,000,000

2005 2010 2013 2014

Supplying Nations - MT

OTHERS

JAPAN

FAROES

ICELAND

CHINA

NORWAY

EU27

Source: Norwegian Seafood Council

58

MACKEREL OVERVIEWMackerel Market Price Study

$1.00

$1.20

$1.40

$1.60

$1.80

$2.00

$2.20

$2.40

Mar 11 Sep 11 Mar 12 Sep 12 Mar 13 Sep 13 Mar 14 Sep 14 Mar 15 Sep 15

Average Import Price USD/KILO

Source: Norwegian Seafood Council

59

MACKEREL OVERVIEWUS Landings Mackerel (MT)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Source: NOAA, NMFS

60

MACKEREL OVERVIEWUS Mackerel Imports (MT)

0

5,000

10,000

15,000

20,000

25,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

Source: US Census and Urner Barry’s Foreign Trade Data; *Estimate

61

MACKEREL OVERVIEWUS Mackerel Imports by Type

1%

37%

6%

56%

2011-2015

FRESH OR CHILLED WHOLE FISH

FROZEN WHOLE FISH

CURED OR SMOKED FISH

CANNED OR PREPARED FISH

Source: US Census and Urner Barry’s Foreign Trade Data

62

MACKEREL OVERVIEWUS Mackerel Exports (MT)

0

10,000

20,000

30,000

40,000

50,000

60,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

FRESH FROZEN PREPARED/PRESERVED

Source: US Census and Urner Barry’s Foreign Trade Data; *Estimated

63

MACKEREL OVERVIEWUS Mackerel Exports (MT)

0

10,000

20,000

30,000

40,000

50,000

60,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 *2015

CANADA PERU GHANA OTHERS MEXICO

Source: US Census and Urner Barry’s Foreign Trade Data; * Estimated

64

MACKEREL JAPAN

65

MACKEREL SCANDINAVIA

66

Smoked Mackerel Latvia

67

HOT SMOKED MACKEREL WITH TOPPINGS IN LATVIA

68

MACKEREL OVERVIEWMackerel Discussion

69