Posted by on
19/05/2020
“While COVID-19 is a short and medium term challenge for all seafood producers globally, it is also an opportunity to increase at-home consumption permanently, and bring part of the restaurant experience with innovative and convenient products in the home.” Gorjan Nikolik, Netherlands based RaboResearch Senior Seafood Analyst.
Last week seafood clients from across Australia and New Zealand joined us for a livestreamed Global seafood update. An initiative of the Seafood Sector Group, clients were hosted by Netherlands based Senior Seafood Analyst, Gorjan Nikolik, and Australian based Senior Animal Proteins Analyst, Angus Gidley-Baird, who discussed what COVID-19 and a slower economy means for Global seafood trade.
Some of key learnings were:
- Seafood is a diverse market that has seen large disruptions following COVID-19.
- Some markets such as canned fish industries have seen a substantial jump in demand, while more premium seafood lines and those exposed to the restaurant trade have seen considerable reductions in demand, resulting in falls in price.
- Consumer sentiment and economic conditions will be key drivers for the return of sales. While some pockets of recovery are starting to appear, general indications suggest a more complete recovery will not be until early 2021.
Our commodity based webinars are just one of the ways we are staying connected with, and continue to support, our clients and their businesses during COVID-19 providing them with exclusive access to our industry insights and networks from across the globe.