Price inflation fails to dampen consumer appetite for fish

But the higher prices are not expected to dampen the consumer appetite for seafood, with both value and volume sales still showing growth in a UK market now worth £2.2bn. Jim Cane, commercial director at Young’s, said: “Seafood inflation itself is actually losing some of its characteristic volatility as stronger fisheries management regimes kick in and the market starts to diversify across a wider range of species. Some firming of prices is actually to be welcomed as it is demonstrates there is improved control on illegal fishing and the elimination of ‘black fish’ from the marketplace.” Overall, Cane predicts an average inflation of around 5%.

“But we don’t expect this to unduly influence consumption. Consumers have really got the message about the natural health benefits of seafood and so far rising prices have had failed to dent their confidence in seafood,” he said.