April 19, 2021 — The global seafood market is a huge industry that employs millions of people. Valued at $159 billion in 2019, it will grow to almost $200 billion by 2027. The system is a network of formal and informal producers and distributors, retailers and consumers. In low-income countries, the fishing industry is especially important as a way to reduce poverty. Developing countries employ 97% of the people, directly and indirectly, working in the fishing industry. About 90% of the fishing workforce are small-scale fishermen. By exporting seafood, low-income countries can boost their economies through the oceanic sector. The fishing industry also helps to increase nutrition and food security for the impoverished. Unfortunately, COVID-19 has devastated the fishing industry, just as it has most other industries.
The Impact of COVID-19 on Fisheries
The pandemic has disrupted supply chains and lowered demand, reducing profits in the industry. Lockdowns and curfews have also reduced catch sizes, which in turn means that fisherfolk make less per day of work. What they do not sell often goes to waste as cold storage is expensive and not widely available to small-scale fishermen. The most affected groups are small and medium-scale fisheries, especially in rural areas, as they lack the resources that large-scale fisheries have to be able to transition and adapt during COVID-19. Furthermore, they do not have the safety net of social protection programs that large-scale fisheries may have.
Many developing countries with large fishing sectors have been struggling to offset the effects of COVID-19. In Thailand and India, migrant fish workers were met with lockdowns and nowhere to sell their products. Traders in India and Myanmar reported a 15% drop in fish prices post-lockdowns. In China, a shift to frozen and processed seafood left fresh-catch fishers floundering.