As part of the partnership between Arctica Finance and Iceland Ocean Cluster articles that focus on fish related subjects will be published as part of the series titled “100% fish”. The primary aim of these articles is to draw more attention to the Icelandic fishing industry. Iceland Ocean Cluster and Arctica Finance believe that their partnership will create multiple exciting opportunities that will help drive further growth of the Icelandic fishing industry.
The first article, “The U.S. Seafood Industry and Utilization of By-Products”, is available here.
The U.S. is an important market for seafood, being the fifth largest producer and exporter of seafood in the world and the largest importer. Despite its global significance, there are still opportunities for enhancements within the U.S. fishing industry, especially with regard to fish utilization. At least 1.5 million metric tons of fish by-products are discarded in the U.S. per annum, resulting in a value loss of potential $655 million. By increasing the utilization of fish and fish by-products, significant value can be salvaged from the supply chain in the U.S. seafood industry.