The global fishing industry expects a long crisis

A long recession in the global fish market can be expected even after quarantine restrictions are eased or completely lifted, the Food and Agriculture Organization of the United Nations (FAO) concluded. “According to the FAO, last year, world fish production decreased by about 1%, and due to trade conflicts and their consequences, sales of fish and seafood also decreased. The coronavirus pandemic has completely changed the optimistic forecast for 2020. A decrease in global demand, an increase in business expenses, a decrease in stocks of aquaculture raw materials, a rise in the cost of logistics, and staff shortages will negatively affect the results of the global fishing industry, ”said WARPE President German Zverev. According to the FAO Food Forecast report (June 2020), restrictions on the spread of coronavirus infection introduced by many countries of the world negatively affected the activities of fishing enterprises. A long recession in the global fish market can be expected ...