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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.


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