Trade conflicts to mar export earnings of seafood companies in 2019: Report

Shrimp prices had plunged below the production cost last year due to a glut in global production and uncertainty in world trade

Export earnings of seafood companies are likely to take a drubbing, with global demand flagging in the backdrop of trade tensions between nations. 

“With global demand slowing and trade tensions contributing to a more challenging market, multiple seafood exporters are seeing trade contractions in 2019, following a positive performance last year, particularly in Asia. China’s total seafood exports are likely to reduce significantly for the year, while export revenues of Indonesia, India, and the Philippines are also set to take a hit,” said a report by Globefish, a unit of the Food and Agriculture Organization (FAO) of the United Nations.