Study Predicts Four Outcomes for Aquaculture Industry Amid COVID-19 Impact

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Study Predicts Four Outcomes for Aquaculture Industry Amid COVID-19 Impact

  • Because of the novel coronavirus pandemic, the relatively young industry suffers curb in
    • Exports
    • Layoffs
    • Reduced demand
    • Reduced production
  • Aquaculture is a fast growing industry that farms fish and other marine life.
  • It can have a major role in providing nutrition to the world.

Overview

  • Aquaculture is a rich source of essential nutrients and supports equitable access to safe and culturally acceptable diets.
  • There is a need to focus on aquaculture as an industry to make it survive after the coronavirus pandemic.
  • With economic globalization and boundless economic growth, the industry develops intensive production systems with limited environment regulation.
  • Global supply chains are relied on, along with low labour costs for processing and sourcing feed ingredients internationally.
  • This outcome results in the production of only a few species that are highly traded and spread rapidly.
  • Such an outcome would rely on policy interventions to help nutritionally vulnerable populations.
  • On embracing sustainable growth and strengthening environmental governance, low trade barriers will enable low seafood prices.
  • Low seafood prices will lead to high inland and marine seafood production and moderate global species diversity.
  • This outcome will increase access to seafood in urban areas and areas with transportation infrastructure connections and electricity for refrigeration.
  • Inward looking countries adopting sustainable production will lead to relatively low global production and focus on smallholder production.
  • Countries retaining their history of small-scale aquaculture will see an increase in their production systems.
  • Women are likely to play key roles.
  • Nutritional benefits will flow to most vulnerable as well.
  • Such a system will require support by government backed schemes and extensions.
  • When countries turn inwards for economic growth, national industries are supported to meet their seafood demands.
  • The diversity in such countries declines overall.
  • It is important to examine aquaculture because world՚s food supply chains become damaged due to pandemic.
  • The industry is relatively young and yet produces half of all seafood consumed by the world.
  • This is important, as the long-term impact of COVID-19 pandemic on food systems remains unknown.
  • The aquaculture industry has been impacted by the pandemic
    • Exports have stopped
    • Workers laid off
    • Demand reduced
    • Production units incurred significant loss
  • There is a need to create circumstances and policies in which aquaculture can be maximized.

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