Newsletter 18 June 2021

SEAFOOD MARKET NEWS

TBESFOOD NEWSLETTER, JUN 2021

Email: export@tbesfood.com


Post second wave of Covid-19, Indian shrimp supply faces challenges

  • Due to Covid-19 and the lockdown, Indian enterprises in the shrimp processing and exporting industry are now facing challenges.
  • According to Srinivas, Chairman of MPEDA, there are other factors that have negatively affected seafood import-export of India during 2020-2021 such as: serious shortage of containersincreasing sea freight cost and limited capabilities of air freight.
  • Experts also warn that the country might face a third wave of Covid in the upcoming months, making the situation even worse for India.

As a RESPONSE to the situation, in Northern Europe, buyers start sourcing shrimp suppliers from Vietnam as the country has a FTA with the EU.

TBES is proud to be a trustworthy partner from Vietnam who provides Frozen Cooked Vannamei PUD Tail-off – Frozen Count – Frozen Weight, IQF with premium quality and at most reasonable cost.

Nearly 1 year on, why are global freight rates still going up?

The rise of market for dry goods, which use the same containers with seafood shipping, is the main cause, said by Barfod – Global Head of the Fish and Seafood Cargo Segment, MAERSK Line.

There’s an imbalance in global trade: too many cool containers are stuck in one place while others are facing serious shortages.

More ships are used for commercial transportation, but they can not meet the global needs.

Demand for canned tuna in Middle East increases this year

  • According to Arnab Sengupta – Regional Advisor of Century Pacific, demand for canned tuna in Middle East in Q1 2021 increased by 7% compared to last year. The upward trend is forecasted to go on with a rate of 3-4%.
  • However, the industry is facing some challenges including: fluctuated exchange ratedelay in delivery time and ignorance of sustainability

Canned tuna industry faces increase in vegetable oil price

From Apr 2020 to Apr 2021, their index has doubled from 81 to 162 according to FAO report.

=> This will also lead to a rise in the finished product’s price, and in price of canned tuna in supermarkets all over the world.

Website: www.tbesfood.com

Email: export@tbesfood.com

Hotline (Zalo/Whatsapp/Viber/Wechat): (+84)932022286

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