Tuesday, 03 November 2026
Strong pricing, a good squid harvest and big increases in fishmeal prices have capped a strong year in sales for Sealord, despite the backdrop of increased fuel costs and global conflicts.
Another major factor for sales has been the increasing, international popularity of animal protein food including seafood among consumers.
“People have to eat and protein is very popular and healthy,” says Sales General Manager Jason Plato. “Pricewise this would have been one of the biggest, best years that I have seen in a very, very long time.” Jason has worked in the seafood industry for more than 30 years.
Jack mackerel was a standout performer. Its price increased due to a 50 percent quota cut to Northeast Atlantic mackerel reducing its global supply. Hoki also recorded good increases across most formats, with block products and fishmeal among the strongest performers, Jason says. The increase was linked to cuts in the Atlantic cod quota and customers seeking more economical whitefish.
“Jack mackerel has just been so strong. At the beginning of the year, if someone had said we would be selling it for some of these prices, I would have said ‘no way’.”
Jason says another gain was the jump in fishmeal and fish oil prices, after a poor catching year in Peru’s large anchovy fishery. Demand is tied to aquaculture, where fish products are used as feed. “There’s been a shortage in those products, so we have seen really strong demand for our fish oil and fish meal from our Nelson factory and freezer trawlers.”
A strong squid catch earlier in the year was another welcome result. “It was good to have such a strong harvest year in that fishery because it’s been quite a few years since we’ve had a good year like that.”
Positive pricing is not just due to significant quota cuts in mackerel and white fish in the Northern Hemisphere. Sanctions from Europe and the United States on Russian-caught white fish also led to increased sales for Sealord, meeting the gap in supply caused by the sanctions, with its own product. These restrictions in global supply offset the fuel prices challenges, says Jason.
“In relation to the Iranian war, there was the sudden increase in fuel. But it’s not just the cost to run our vessels, it’s about increasing prices of packaging, cost of freight, ingredients, repairs and maintenance.
“The only thing we can do is pass those costs on through fuel surcharges for our export customers. Some said no thanks, we’ll go elsewhere, while others were prepared to wear it.”
While the forecast for cost of fuel remains an unknown and a concern, the outlook is positive for Sealord fish, he says.