GLOBEFISH - Información e Análisis Comercial en Pesquerias

European Price Report - June 2020

Year published: 2020

One of the key themes emerging in many European countries during the COVID-19 crisis is the need for a renewed focus on local seafood production for domestic consumption. European seafood markets, as well as Asian seafood markets, are currently characterised by very weak demand and low prices due to the continuing effects of the COVID-19 pandemic, which has seen most importers remain reluctant to resume purchasing even though some countries have begun gradually loosening restrictions.  Although restaurants in France and Italy are slowly opening as COVID-19 restrictions are lifted, social distancing measures and limits on operating capacity in terms of diners per unit area will translate into a significant drop in revenue for the foodservice sector. At the same time, lingering public concerns over the possibility of infection will prevent a full recovery of the restaurant industry for some time to come.  Economic problems and fears for the future mean that spending on non-essential goods will be limited. The tourist season is likely to be heavily subdued, and this means overall seafood consumption will be reduced, particularly in the Southern part of the continent. Despite limited demand, fishing has resumed in most European countries, and this additional supply has led to pressure on prices.

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