Slowdown, trade tensions to dent seafood exports
According to a report by Globefish, which is affiliated to the UN’s Food and Agricultural Organization, global slowdown and trade tensions have hurt major seafood exporters, especially in Asia. The export revenues of China have been severely impacted; while those of Indonesia, India and the Philippines are also expected to face the brunt of international pressures.
“Norwegian exports should remain steady on good price levels for its most important species, while for Latin American exporters a strong salmon market and high fishmeal production is likely to see total exports rise. On the market side, Japan, the EU and the US have all seen declines in the total value of seafood imports in early 2019, giving back some of the gains achieved last year. In developing economies, import growth is set to slow but remain positive,” the report states. The effects of US-China tensions & EU-US tensions are likely to be felt throughout 2019.