Alaska Seafood Marketing Institute Gets More Than $5M to Boost Seafood Sales
Photo Credit: Alaska Seafood Marketing Institute
The Alaska Seafood Marketing Institute (ASMI) has some federal money to support its mission to promote the state’s ocean bounty to customers around the world. The US Department of Agriculture (USDA) awarded more than $4 million from the Regional Agricultural Promotion Program (RAPP), and ASMI received a pair of $500,000 Saltonstall-Kennedy (S-K) grants through the National Oceanic and Atmospheric Association Fisheries Service.
ASMI is using the RAPP funds to diversify and improve overseas markets for Alaska seafood, while the S-K grants are to develop and market an Alaska Seafood pet food brand and increase the utilization and value of Alaska seafood through side-stream production, re-shoring of value-added processing, and neutral storage facilities.
Turning the Downturn Around
The additional funds and grants are extremely welcome as the Alaska seafood industry seeks to emerge from a global market collapse that has put incredible financial pressure on Alaska fishermen, fishing families, processors, and seafood businesses. USDA, the Foreign Agriculture Service, and the Alaska Congressional delegation created and executed the RAPP program in response, in an effort to turn the market around.
“The timing of the RAPP funds is well-aligned with the Alaska seafood industry’s needs to combat numerous global economic pressures. While these funds will help ASMI grow our international efforts, they will also allow us to shift our other limited fund sources toward the US market, where consumer demand for seafood has fallen dramatically and is sorely in need of marketing support,” says ASMI Executive Director Jeremy Woodrow.
Current Issue
November 2024
RAPP funds are intended to foster expanded exports and market diversification by encouraging the development, maintenance, and expansion of diverse commercial export markets for American agricultural commodities and products. Some expected uses of the funds include expanding trade, foodservice, consumer, and other promotions in Southeast Asia, Latin America, and the Middle East/North Africa region and executing a feasibility study to examine Alaska Seafood export potential to India.
RAPP funding will also allow ASMI to supplement its efforts to boost the Alaska seafood industry in Japan, the UK, and parts of Eastern Europe.
The S-K grants are part of a competitive grant program for marketing and research projects up to $500,000 that demonstrate direct benefits to US fisheries and meaningful participation of fishing communities.
Industry Sponsor
Become an Industry Sponsor
The first grant to ASMI is aimed at facilitating greater participation by the Alaska seafood sector in the pet food market. In 2022, the ASMI board of directors identified the strong potential for Alaska seafood products in this market. While US pet food manufacturers purchased $893 million in fisheries products for cat and dog food in 2022, total agricultural products purchased by the sector were $6.9 billion. This grant allows ASMI to create resources for the Alaska seafood industry to target the pet food sector.
For the second project, ASMI and its partners will collaborate to compare value-added products made in Alaska with successful products from Iceland to determine which could be applied to Alaska seafood processes and species, as well as the reshoring of some processing to the US. Existing reports and information are insufficient for most industry members to determine what products they could produce, what challenges (and relevant solutions) may exist, and how best to implement them.
Woodrow says, “I am incredibly appreciative of the hard work and dedication of ASMI staff and our industry partners to apply for, and receive, grant funds from the Saltonstall-Kennedy program. This is a very competitive program. The $500,000 grants will allow ASMI to create and develop new marketing materials and resources that will add value and new business opportunities throughout the Alaska seafood industry.”
ASMI is a partnership between the State of Alaska and the Alaska seafood industry promoting the benefits of wild and sustainable Alaska seafood and offering seafood industry education.
Alaska Commercial Co. Opens New Kotzebue Store
Larger than the existing store, the new location features the first self-checkout stations in Kotzebue, among other advances.
Aleut Real Estate Launches Tayal Brokerage
The Aleut Corporation launches Tayal Brokerage, an Alaska Native-owned commercial real estate brokerage headquartered in Anchorage.
Chugach Alaska Corporation Acquires Two Fairbanks Mechanical Contractors
Chugach Alaska Corporation subsidiary Chugach Commercial Holdings acquired two Fairbanks-based mechanical contractors.
