Dark clouds on the front line for seafood exports in the aftermath of Corona 19

Published 2020년 9월 21일

Tridge summary

The seafood export industry is facing challenges due to the COVID-19 pandemic, with the government allocating an additional budget of 5.1 billion to mitigate the impact. The pandemic has led to increased containment measures and a decrease in demand for eating out, resulting in a significant drop in exports of domestic fishery products by 11.8% compared to the previous year. However, there has been a rise in exports of seafood for processing. The Ministry of Maritime Affairs and Fisheries is planning to boost exports of declining products and target growing demand items and export markets. It remains uncertain if the industry will surpass the record high of the previous year with the ongoing pandemic.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A red light was lit on the seafood export front due to the impact of Corona 19, which rarely subsides, with an additional budget of 5.1 billion. As major exporting countries such as the United States, Japan, and China strengthened the containment measures caused by Corona 19 and the demand for eating out was also decreasing, the dark clouds over the seafood export front are seldom clearing. Accordingly, it seems inevitable that the government's original plan, which was aimed at achieving $2.6 billion in seafood exports, is inevitable even in difficult situations at home and abroad, such as strengthening non-tariff barriers and reducing fishery resources and catches. This is reflected in the aquatic product export performance. According to the Ministry of Maritime Affairs and Fisheries, as of the end of August, the scale of exports of domestic fishery products decreased by about 11.8% compared to the same period of the previous year to only $1.49,000. Among them, items for eating ...
Source: Susantimes

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