Tailored from a press launch.
The Alaska Seafood Advertising Institute (ASMI) has secured over $4 million in new federal funding, together with two $500,000 Saltonstall-Kennedy (S-Ok) grants, to spice up the seafood trade’s diversification efforts, with a particular give attention to creating an Alaska Seafood pet meals model.
The S-Ok grants will assist ASMI’s initiative to enter the pet meals market, recognizing the sturdy potential for Alaska seafood merchandise on this rising sector. This effort goals to extend the utilization and worth of Alaska seafood via revolutionary manufacturing and advertising and marketing methods tailor-made to the pet meals trade, mentioned ASMI government director Jeremy Woodrow.
The extra funding comes at a important time because the Alaska seafood trade faces monetary pressures from international market challenges. The Regional Agricultural Promotion Program (RAPP) funds will even assist ASMI develop worldwide advertising and marketing efforts, permitting a shift of different assets to assist the struggling U.S. seafood market.
“The timing of the RAPP funds is well-aligned with the Alaska seafood trade’s must fight quite a few international financial pressures,” mentioned Woodrow. “Whereas these funds will assist ASMI develop our worldwide efforts, they will even enable us to shift our different restricted fund sources towards the U.S. market, the place shopper demand for seafood has fallen dramatically and is sorely in want of selling assist.”
RAPP funds are supposed to foster expanded exports and market diversification by encouraging the event, upkeep and growth of numerous industrial export markets for American agricultural commodities and merchandise. Some anticipated makes use of of the funds embody increasing commerce, foodservice, shopper, and different promotions in Southeast Asia, Latin America and the Center East/North Africa (MENA) area and executing a feasibility research to look at Alaska Seafood export potential to India.
RAPP funding will even enable ASMI to complement its efforts in Japan, the UK and elements of Jap Europe.
The S-Ok grants are a part of a aggressive grant program run by Nationwide Oceanic and Atmospheric Administration (NOAA) Fisheries to handle advertising and marketing and analysis wants. Every venture will be awarded as much as $500,000 and should reveal direct advantages to U.S. fisheries and significant participation of fishing communities. ASMI was awarded two of those grants, every to the utmost degree allowable.
The primary grant is aimed toward facilitating larger participation by the Alaska seafood sector within the pet meals market. In 2022, the ASMI board of administrators recognized the sturdy potential for Alaska seafood merchandise on this market. Whereas U.S. pet meals producers bought $893 million in fisheries merchandise to be used in cat and pet food in 2022, complete agricultural merchandise bought by the sector had been $6.9 billion. This grant award will enable ASMI to create assets for the Alaska seafood trade to focus on the pet meals sector.
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