Our Issaquah sushi restaurant is deeply invested in the fish industry. This is why we are interested to see the latest reports of the global seafood industry. According to the Food and Agriculture Organization of the United Nations, the demand for fish is at record levels. As of 2013, the seafood trade was up to 160 million tons, representing a jump of three million from the previous year. This makes up a $136 billion industry in exports, which is good news for the international economy.
Unfortunately, not everyone is properly benefiting from this thriving market. Developing countries are falling behind, producing roughly 61% of the fish supply by volume but receiving only 54% by value. The FAO cautions that small fishing communities, who make up roughly 90% of the globe’s seafood workforce, don’t have the capital and bargain power to compete with the more powerful fishing entities. Hopefully, world leaders will be able to give these smaller fishers the support they need to sustain a sustainable and equitable seafood industry well into the future.