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The Impact Of COVID-19 On Global Aquatic Trade

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[Abstract]:

According to a report on the Globalfish website of the United Nations Food and Agriculture Organization on March 27, the unprecedented Covid-19 epidemic has caused chaos in the global social order and has had a major impact on the economy. Governments of various countries have adopted a series of measures to prevent and control the spread of the epidemic, including community quarantine, adjustment of working hours and travel restrictions.

 

According to a report on the Globalfish website of the United Nations Food and Agriculture Organization on March 27, the unprecedented Covid-19 epidemic has caused chaos in the global social order and has had a major impact on the economy. Governments of various countries have adopted a series of measures to prevent and control the spread of the epidemic, including community quarantine, adjustment of working hours and travel restrictions.

 

Due to the increased demand for storable food for household consumption and the decrease in demand for fresh aquatic products, frozen packaged aquatic products have become the first choice. At the same time, online dealers said that home consumers' interest in new retail methods is rising. Nevertheless, the overall market demand and prices of many products are still declining, especially those food products in the catering industry.

 

Due to the increased demand for storable food for household consumption and the decrease in demand for fresh aquatic products, frozen packaged aquatic products have become the first choice. At the same time, online dealers said that home consumers' interest in new retail methods is rising. Nevertheless, the overall market demand and prices of many products are still declining, especially those food products in the catering industry.

Other impacts of the epidemic include the cancellation of major global aquatic product trade activities and the delay in harvesting farmed aquatic products due to lack of labor. The aquaculture industry in many countries asks the government for financial support, but these measures have limited effect in this great change. Some industry representatives have also proposed relaxing the requirements for fishing and biological standards, calling for a quick response and anticipating long-term market trends. The future is still full of uncertainties, especially the continuation and severity of the epidemic. Even after the existing prevention and control measures are cancelled, the market still needs time to recover.

From the WeChat Official Account of "Fish Expo"

 

April 7th, 2020