empty
 
 
Global seafood market in tailspin due to coronavirus
02-07-2020 10:38
Global seafood market in tailspin due to coronavirus
Global seafood market in tailspin due to coronavirus

The global seafood market has also been affected by the pandemic. The industry is currently experiencing difficult times due to a sharp decline in demand.

Reportedly, China has completely banned imports of Atlantic salmon from Europe fearing a second outbreak of the coronavirus. The government made such a decision after the coronavirus was found on boards used for foreign fish. Although experts say that the fish itself is unlikely to carry the disease, the Chinese authorities decided to take strict measures. Fish exporting countries are sure to feel the pinch of this decision. China’s imports of salmon from Europe and Norway accounted for almost $700 million and $147 million a year respectively. This year, the indicator has already fallen by 5%.

German Zverev, President of the All-Russian Association of Fishery Enterprises, Entrepreneurs and Exporters (VARPE), points out that a lot of changes are being made in the world logistics. The Norwegians are completely moving away from chilled products. Thus, the shipment of Norwegian salmon is now carried out only under refrigeration. He also adds that the ban on salmon imports immediately led to the suspension of trade contracts. Norway, the Faroe Islands, Peru, and India will incur serious losses amid a drop in salmon imports.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback