THIS FISH

First-ever Fish n’ Chips Index shows meta-trends driving seafood innovation

First-ever Fish n’ Chips Index shows  meta-trends driving seafood innovation

PALO ALTO – ThisFish Inc., a Vancouver-based seafood traceability startup, has released the first-ever Fish n’ Chips Index showing the meta-trends driving the adoption of technology in the global seafood industry. The release comes at the start of the Fish 2.0 Innovation Forum, a two-day global startup competition being held at Stanford University from November 7 to 8. ThisFish is a finalist in the competition.

The Fish n’ Chips Index compares two meta-trends: the relative rise in the price of global seafood and relative decline in the price of semiconductors, which are used in microchips. Since 1990, the FAO’s Fish Price Index has risen from 100 to 160 while the U.S. Bureau of Labor Statistic Producer Price Index for semiconductors has declined from 100 to 54. The Producer Price Index also shows that software has declined by 6.6 percent and computer hardware by 5.8 percent in the last decade.

The rise in cloud computing, open source, smartphones and IoT hardware is driving down the cost of technology, making it more accessible and ubiquitous. At the same time, global demand for protein keeps rising while the production of wild capture fish has remained stagnant at 90 million tonnes for the past two decades. The increased demand has been somewhat met by the rise of aquaculture, tripling production to 74 million tonnes over the same period.

So, is technology becoming commodified while seafood is becoming de-commodified? That might be a stretch, but the meta-trends point to growing innovation in the seafood sector as technology costs decline and seafood demand rises. The industry is ripe for digital disruptions.

If Fish 2.0 is any indication, seafood entrepreneurs are increasingly focusing on innovations in aquaculture, traceability, transparency and supply chain logistics. As sustainable seafood becomes more coveted, consumers will increasingly want to know where it comes from and demand trusted data on its origins and production methods.

FISH N’ CHIPS INDEX
Year FAO Fish
Price Index*
Semiconductor
Price Index**
1990 100 100
1991 103 100
1992 105 100
1993 101 100
1994 108 100
1995 118 98
1996 110 95
1997 109 91
1998 108 88
1999 108 86
2000 110 85
2001 101 82
2002 98 81
2003 105 77
2004 108 75
2005 114 73
2006 122 72
2007 129 67
2008 142 63
2009 131 62
2010 143 61
2011 160 59
2012 150 57
2013 154 56
2014 164 56
2015 148 56
2016 159 55
2017 160 54

 

SOURCES:

*FAO Fish Price Index

**U.S. Bureau of Labour Statistics Producer Price Index

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