Received: 01-Aug-2022, Manuscript No. GJFA-22-71755; Editor assigned: 05-Aug-2022, Pre QC No. GJFA-22-71755(PQ); Reviewed: 22-Aug-2022, QC No. GJFA-22-71755; Revised: 29-Aug-2022, Manuscript No. GJFA-22-71755(R); Published: 05-Sep-2022, DOI: 10.15651/2408-5464.22.9.084
The demand and prices of fish products are being significantly and intricately impacted by public health responses to the COVID-19 pandemic and accompanying measures, which range from confinement and social isolation to tighter border restrictions and restricted air traffic.
In many OECD nations, the demand for fish is mostly driven by the hotel, restaurant, and catering (HORECA) industry. The demand for some seafood products, particularly high-end items like lobsters, oysters, bluefin tuna, and mahi-mahi, has collapsed as a result of restaurant closures and the cancellation of both public and private events.
A collapse in export markets has frequently added to the loss of domestic demand. For instance, the discontinuation of Chinese lunar new year festivities, which are typically marked by the consumption of expensive seafood, has had a disastrous effect on the lobster fisheries of many countries, including Australia, Kenya, New Zealand, the United Kingdom, and the United States.
Many fish markets around the world have closed as a result of social segregation and confinement policies, and trade has also been negatively impacted by border closures, a sharp decline in the availability of international air freight, an increase in its price, and the cancellation of passenger flights. Even where there is still a demand for fresh fish goods locally and abroad, these effects have made selling them more difficult.
Prices have decreased and become more variable in many regions as a result of decreased demand and accessibility issues. The price declines were observed across a wide range of products and nations. Although significant price decreases and pricing ambiguity might be difficult for fishermen, these trends may have some favourable welfare consequences for consumers where lower prices result in more chances for fish eating.
An increase in demand for canned, frozen, and processed fish has coincided with a decline in demand for fresh fish products. The rise in supermarket retail sales and consumer stockpiling have been the main drivers of the demand for these shelf-stable fish products. Consequently, compared to the same period last year, the salmon and whitefish processing business is experiencing favourable trends, but only where there haven't been supply chain interruptions.
Additionally, COVID-19 has in some areas led to an increase in the demand for seafood that is caught nearby. Organizations offering direct delivery services between fishermen and consumers have grown in numerous OECD nations.
As nations begin to gradually relax their lockup policies, demand for fish may in general increase. At the end of April, for instance, eateries reopened in Thailand and Vietnam. However, several nations, particularly in Europe, have kept their restaurants and hotels closed during the initial stages of their reopening or are only able to function at a reduced capacity.
Even when possibilities for such spending are once again available, consumers could still require some time to get back to their pre-crisis levels of consumption while travelling. Additional lockdown precautions might be necessary in the event of potential second waves of localised disease outbreaks. Finally, the pandemicinduced economic downturn and accompanying declines in consumer spending power may have a medium to long-term impact on demand. Under these conditions, the demand recovery is probably going to be delayed and unpredictable.