London Daily

Focus on the big picture.
Wednesday, Jul 30, 2025

Coronavirus: from Norway to Vietnam, seafood market sinks as demand dries up

Coronavirus: from Norway to Vietnam, seafood market sinks as demand dries up

The global seafood industry is seeing demand crater as the pandemic shuts restaurants and wreaks havoc with supply chains. Salmon prices have dropped in Norway. In Hokkaido, some suppliers are even holding emergency sales of unwanted catch

Just one kilogram of freshly caught squid a day was almost enough to live on for Thai fishermen like Wisut Boonnak. Now the catch has halved in price and he is spending more time on village duties.

“It’s the biggest price drop that I can remember,” said Wisut, who’s been fishing for the past 40 years off the southern Thai coast.

“There are fewer buyers around now because exports are lower.”

Wisut used to go to sea daily to catch squid and mackerel. These days he is out just once or twice a week.

The global seafood industry, worth hundreds of billions of dollars, is seeing demand crater. From lobster fishermen in North America to salmon farmers in Norway and shrimp producers in Vietnam, people are hurting as the coronavirus shuts cafes and restaurants and wreaks havoc with supply chains. Whether farmed or wild, fresh or processed, few areas have escaped the impact.

“There’s less demand for seafood now, fewer consumers,” said Mongkol Sukcharoenkana, chairman of the National Fisheries Association of Thailand. “People see it as a discretionary product.”

The Southeast Asian nation is one of the world’s biggest suppliers of seafood in its various forms.

A similar trend can be seen in Australia. Sydney Fish Market Pty – one of the world’s largest – was quiet over Easter when it’s usually full of tourists and locals. Many tenants are offering pre-order pickup and delivery services as alternatives after the government imposed restrictions on eating out.



“There’s a lot of businesses struggling,” said Julian Harrington, chief executive of the Tasmanian Seafood Industry Council, representing Australia’s largest seafood producing state by value. “We’re concerned that demand for product is going to disappear.”

To ease the pressure, the government’s helping charter planes to carry rock lobster and other products to foreign markets.

In Japan, empty restaurants and hotels and the absence of tourists have hit demand for more expensive seafood items such as sea urchins and crabs, and in Hokkaido, some suppliers are even holding emergency sales of unwanted catch.

Meanwhile, a lobster glut has sent prices reeling in North America, salmon prices have dropped in Norway and seafood companies in Vietnam have seen a 35 per cent to 50 per cent plunge in export contracts this year.

One bright spot is demand for canned fish products. Shares of the world’s largest tinned tuna maker Thai Union Group Pcl, producer of the “Chicken of the Sea” brand, rallied last month as panicked shoppers rushed to buy essential foods. But demand may be set to ease in the second quarter as hoarding subsides, according to Bank of Ayudhya Pcl.

“Demand from the food service industry is plummeting, but we still get orders from US retailers,” said Poj Aramwattananont, president of the Thai Frozen Foods Association.

More expensive products like lobsters and scallops are hardest hit because of restaurant closures, while fish fillets are still in demand from customers who are cooking at home, he said.

Back in southern Thailand, fisherman Wisut, also a local village chief, now spends some of his spare time helping authorities enforce a night-time curfew and other lockdown measures. “There’s not much else we can do but to adapt,” he said. “We have to survive this.”

Newsletter

Related Articles

0:00
0:00
Close
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
×