The novel coronavirus COVID-19 continues to upend the global seafood trade, reducing foodservice demand and complicating supply chains. If you have any stories on how your company is dealing with the crisis, please email us, [email protected] Here's a recap of pandemic-related seafood news from Friday, Aug. 28:
An Indian shrimp veteran urged farmers in India and Ecuador to focus on value-added products and to diversify their export markets, anticipating that the shrimp market could reach an "all-time low" if the coronavirus crisis extends into next year.
Talking during an online event organized by the Ecuadorian Camara Nacional de Acuacultura (CNA), which is taking place on Aug. 26 and 27, Manoj Sharma -- owner and director of Mayank Aquaculture, a shrimp farming company in Gujarat, India -- pointed out that raw shrimp prices have dipped below $4 per kilogram, while for value-added they range from $8-$10/kg.
This is why farmers should move away from selling mainly raw products, he said. He added they should divert focus from the Chinese market, pointing to recent blocks on some processors as one of the reasons.
Meanwhile, Ecuador’s shrimp exports for July dived by $101 million year-on-year, with a surge in sales to the US unable to offset the collapse of the Chinese market after the now-resolved blocking of three big processors.
The country exported $233m in shrimp in July 2020, compared to $324m in the same month of the prior year, a 28% y-o-y drop in value, according to data from CNA.
The coronavirus pandemic is disrupting land-based salmon farmer Atlantic Sapphire's US market launch, but the company plans to harvest fish in September for a "10,000+ store footprint".
Atlantic Sapphire's first-half update, published to the Oslo stock exchange on Friday, states the construction timeline for its Homestead, Florida, recirculating aquaculture system facility "has gradually extended" due to COVID-19 and "other unforeseen delays".
The company has seen immigration and labor access interruptions due to the pandemic but does not expect a long-term impact. The "delayed ability to operate the farm at full capacity" has pushed the company's "steady-state" phase one production level into the first quarter of next year.
Namibia has raised close to NAD 628m ($37m) from the auction of 60% of its horse mackerel and hake quota.
According to a statement by finance minister Iipumbu Shiimi, the amount is twice what would have been made by selling the quota at the reserved prices.
August 31, 2020 at 02:45PM
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COVID-19 recap, Aug. 28: Indian shrimp veteran urges VAP focus; Pandemic disrupts Atlantic Sapphire's US launch - Undercurrent News
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