1. U.S. Seafood Imports Expand as Domestic Aquaculture Industry Repositions Itself.
- Author
-
Davis, Christopher G. and Rexroad, Caird E.
- Subjects
AQUACULTURE industry ,SEAFOOD ,IMPORTS ,FISH culturists ,NATURAL resources ,ECONOMIC research - Abstract
The U.S. aquaculture industry has undergone significant changes in the past two decades, with a decrease in the number of farms but an increase in sales. Despite fluctuations in the industry, consumer demand for seafood in the United States has steadily grown. To meet this demand, the U.S. has increased its imports of farm-raised and wild-caught fish and seafood. In 2023, the value of U.S. seafood imports was $25.5 billion, with Canada being the largest supplier. Imports make up a significant portion of the seafood consumed domestically, with the U.S. importing over 79% of its seafood in 2020. This increase in imports has put downward pressure on domestic seafood prices, impacting revenue for U.S. aquaculture operations. The National Aquaculture Act of 1980 and subsequent plans have aimed to support the development of aquaculture in the U.S., with ongoing efforts to update and enhance these plans. [Extracted from the article]
- Published
- 2024