A Fishcoin Partner
SmartAqua develops Supply Chain Ecosystems for Smarter Seafood Production
Farmed halibut, Sgioport, Western Isles, Scotland
“IT HAS BEEN CALCULATED that if no accident prevented
the hatching of the eggs and each egg reached maturity,
it would take only three years to fill the sea so that you could
walk across the Atlantic dryshod on the backs of cod.’
Le Grand Dictionnaire de Cuisine, 1873
Atlantic Salmon eggs hatching
Seafood is one of the largest industries on the planet.
12% of global livelihoods at around US$1 TR pa total value
1 out of every 10 people on the planet derive their income from seafood and aquaculture.
90% growth in consumption
People are eating more seafood than ever. In the past 50 years global per capita consumption has nearly doubled.
$150 billion in annual export value
Export value doesn’t include retail, or domestic production so full estimates of the industry size are upwards of $500 billion USD. Full retail estimates are close to USD$1 trillion.
Artisanal fishers landing their catch in Indonesia
But >90% of this industry is small scale producers
Limited catch data available, often unregulated, inefficient, and therefore, unsustainable.
89% of fish stocks are at capacity
At present, 89% of global wild fish stocks are overfished or being fully exploited.
50%+ of seafood is thrown away
As much as 60% of the seafood we take from the ocean is discarded, lost or wasted in supply chains.
700KG of seafood are stolen every second
Illegal, unreported and unregulated (IUU) fishing accounts for more than 700KG stolen each and every second.
Shrimp farming family in Aceh
People want to know the story behind their seafood.
90% of seafood consumed in the U.S. is imported
Of this seafood, less than 1% is actually inspected by the government specifically for fraud.
20% of consumer seafood is mislabeled
Depending on the species and supply chain mislabeling can be as high as 86%.
Governments are cracking down
From January 1, 2018 the US Seafood Import Monitoring Program started blocking 15 species groups from import into the USA without traceability to the source.