When it comes to seafood the current crisis is one of oversupply, not undersupply.

The sight of empty supermarket shelves has obviously caused panic and desperation for many people. For some domestic food producers though, it’s caused confusion. Those who have surplus product but no market now that pubs, restaurants, and some export markets have shut. When it comes to seafood, the current crisis is one of oversupply, not undersupply.

Covid-19 is influencing food producers at all levels in many different ways. For the UK fishing industry, the pinch is being felt from all sides. The recent collapse of the UK domestic restaurant and pub market alongside the critically important export market means the industry is in dire straits. With prices from some species dropping 85%, the cost of leasing quota (where fishers lease in additional quota from producer organisations) has become more expensive than the actual landed price, meaning fishers would lose money to fish. With many vessels now tied up, skippers and crew on share wages rather than salaries are left without an income.

Catching the fish is not the problem; it’s the ability to sell it. Annually, 80% of UK fish landings are exported to the EU, Asia and the United States, with langoustine, scallops, mackerel, and crab among the most popular. For the inshore fleet the majority of vessels in the UK have focussed on the rapidly growing market for whelks in South Korea. Farmed Scottish salmon is also a large export product. Despite this export focus, the UK is a net importer of seafood with 70% of the seafood consumed in the UK imported. The seafood market share in the UK is dominated by salmon, cod, shrimp, tuna, and haddock. Click here to read more