icelandic usa...canned tuna – 3.5 lbs shrimp – 2.40 cod – 1.71 alaska pollock – 1.18...
TRANSCRIPT
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ICELANDIC USA
Daniel A. Murphy, Jr.Executive Vice President
April 7, 2009
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The Iceland Fishery….A Return To Prominence in the USA
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Economical Importanceof Fisheries in 2007
Total export of marine productsFish and fish processing:
7% of GDP7% of workforce40% of goods export30% of total export value
Cod is most important – 39% of export value of seafood
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Seafood Annual Consumption
Iceland 168 lbs per capita
Japan 145 lbs per capita
Canada 52 lbs per capita
UK 42 lbs per capita
USA 16 lbs per capita!
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• American’s believe they are big seafood eaters.
• The truth is they are big poultry eaters at 72 pounds per capita and big beef eaters at 62 pounds with pork at 46 pounds.
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• American’s eat 16.3 pounds of seafood per capita
• Half of that is shrimp and canned tuna!
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America’s Diet
• We eat 126 pounds of potatoes including 53 pounds of frenchfries &16 pounds of potato chips
• We eat 34 pounds of pizza
• We eat 32 pounds of cheese
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America’s Diet
• We eat 54 quarts of popcorn
• We eat 22 pounds of ice cream
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• Sadly we eat only .44 pounds of Cod
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1988 1988 –– 15.2 Lbs15.2 LbsCanned Tuna – 3.5 Lbs
Shrimp – 2.40
Cod – 1.71
Alaska Pollock – 1.18
Flatfish – 0.619
Clams – 0.612
Catfish – 0.60
Salmon – 0.433
Crab – 0.327
Scallops – 0.314
2007 -16.3 Lbs (2006 16.5 Lbs) % ChangeShrimp – 4.10 Lbs (4.40) +71%
Canned Tuna – 2.70 (2.90) -23%
Salmon – 2.36 (2.02) +448%
Alaska Pollock – 1.73 (1.63)
+47%
Tilapia– 1.14 (0.996) na
Catfish– 0.876 (0.969) +46%
Crab– 0.679 (0.664) +107%Cod– 0.44 (0.505) -74%
Clams– 0.449 (0.440) -28%Flatfish – 0.319 (0.305) 49%
Source: National Fisheries Institute from NMFS data
Top 10 Consumed Seafood Shrimp & Salmon 40% of Total Consumption
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• Of that .44 pounds per capita we fight it out with.– Iceland Cod– Alaska Cod– Russian Cod– Norwegian Cod– Canadian Cod– USA Cod
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So where did it go?
• 5 p’s– Pope
– Pizza
– Pollock
– Pacific Cod
– Prices
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Pope Paul VI
Feb. 1966 – he lifted the mandatory “meatless Friday’s”.
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Dan Carney
Opened one Pizza Hut with his brothers in the 60’s…now there are 10,000
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Tom Monaghan
Opened one Domino’s on the campus of University of Michigan…now there are 8,500
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Alaska Pollock
Once considered the “junk fish of the ocean”
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• McDonald’s
• Long John Silver’s
• Burger King
…..left Cod in the 1990’s for Pollock
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Pacific Cod
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• All of these factors contributed to the decline of Iceland cod/haddock in the US….however, the consumer has never lost his appeal for Iceland seafood!
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Toot our horn
&
Bang our drum
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Icelandic Products
12%
5%15%
20%25%
35%47%
78%
othermovies
musiclamb
skincare productsbottled water
clothingseafood
9% of respondents are familiar with products from Iceland; 76% are not; 15% are not certain.
Of those familiar with Icelandic products (N=60)…
Respondents who say Iceland is an appealing destination are much more likely to claim familiarity with Icelandic products (19% vs. 5%).
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Seafood• The outdoor type is significantly more likely to say that if
fish is from Alaska, Canada, or Iceland they would really want fish.
• Outdoor types are also much likely than other to say fish from Iceland is fresh (62% vs. 43%) and high quality (55% vs. 39%).
(percent saying “makes me want it”)The fish is from Outdoor Type Non-outdoor typeAlaska 75% 61%Canada 50% 43%Iceland 54% 37%
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• The heydays of Iceland cod were created by the immigration of – Scandinavians– Irish– German– Portuguese– Italians
• It is a time to return to the comfort foods or nostalgia food of their ancestors.
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Whole Foods – Artic Char
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Bonefish 150 unit restaurants loves Arctic Char
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• Walmart – MSC
• McCormick & Schmicks – MSC
• Red Lobster – New England Aquarium
• Aramark – Monterey Bay Aquarium
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Iceland’s Eco Logo
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Iceland Fisheries future in the US
• The quota system is the model for the world
• The quality of the fish and the great care taken to produce it is second to none!
• The Iceland fishery needs to better relate to the world consumer and collaborate better than isolate
• You cannot appear & vanish again like in the early 1990’s and again in the early 2000’s.
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• Commitment
• Consistency
• Competitive
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Iceland Kroner
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