Tariffs force Alaska seafood industry to look beyond China
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Hey there, time traveller!
This article was published 28/03/2019 (2678 days ago), so information in it may no longer be current.
KODIAK, Alaska – Chinese tariffs are forcing Alaska’s seafood industry to look for markets beyond the Asian giant, according to an industry marketing organization.
The Alaska Seafood Marketing Institute is exploring how to expand the state’s seafood brand in response to a 25 per cent tariff on Pacific Northwest seafood imposed by China in summer 2018, the Kodiak Daily Mirror reported Wednesday.
Alaska’s seafood sales are off by more than 20 per cent so far this year and could take a big hit in China, said Jeremy Woodrow, the institute’s interim executive director.
“Because of the conflict, it makes our product less competitive in that marketplace,” Woodrow said.
A $5.5 million, three-year federal agricultural trade promotion grant awarded in January will be used to develop nontraditional markets such as Japan, Southeast Asia and parts of South America, according to Woodrow. The funds will also aid continued marketing in China and other established markets such as Germany, he said.
In a survey of Alaska seafood businesses, 65 per cent reported they immediately lost sales due to the tariff increase, 50 per cent had sales delays, and 36 per cent lost Chinese customers, Woodrow said.
China is the largest export market and reprocessor of Alaskan seafood, according to the institute.
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Information from: Kodiak (Alaska) Daily Mirror, http://www.kodiakdailymirror.com
