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< Back to news 30 September, 2014

Coldwater prawn price increases

In line with the rest of the seafood industry, Beacon supplier M&J Seafood are experiencing price increases from their suppliers on all Coldwater Prawns due to severe worldwide shortages.

These shortages are a consequence of a combination of issues, particularly:

  • Substantial cuts to cold water prawn fishing quotas in the main fishing grounds in Canada and Greenland. Over the last 3 years the quota has to declined by 95,000 ton, equivalent to a third of the total annual catch.
  • A harsh Canadian winter in 2013/2014 delayed the start of the fishing season meaning that at the start of 2014 Canadian inventories were just 5,000 ton compared to the normal 15,000 ton.
  • In addition, higher demand for Coldwater Prawns has been driven by shortages in Warmwater Prawns affected by early mortality syndrome (EMS), which has meant that Coldwater Prawns have been used as a substitute.

Regrettably M&J Seafood have, therefore, been forced to apply a price increase with immediate effect across their Coldwater Prawn range.

M&J Seafood are working very closely with their suppliers to ensure full understanding of all factors affecting further changes to the market. Above all else, M&J remain committed to ensuring their loyal customers continue to have availability of this key product at all times.

You may already have seen the news regarding M&J's groundbreaking initiative with the Marine Conservation Society (MCS), whereby they have launched the Safely Sourced Seafood List. If you missed it, please click here.