The West Coast Seafood Processing Association (WCSPA) predicts that as the new crown vaccine is fully popularized in the United States and the economy opens up again, the operating conditions of seafood companies will gradually recover.
The U.S. West Coast fisheries industry includes the fishing and processing of bottom fish, shrimp, jumbo crab, salmon, tuna and cod. According to WCSPA, fishermen and seafood processors, as the backbone of coastal communities, were hit hard by the epidemic last year.
WCSPA data shows that the catering industry accounts for 60-80%of the income of North American processing companies. Lori Steele, CEO of WCSPA, said:”For processing companies, the catering industry is their main source of income. Some processing plants have to temporarily suspend operations and lay off employees, while others have been forced to undergo business restructuring.”
”As more and more vaccines are put into society and the country opens up again, we expect seafood demand to continue to grow in 2021. However, this process will be slow. The supply chain is still in chaos, and some markets require data. It will not be fully recovered until 20 years. In the marine industry, the impact of the epidemic on corporate profits will still continue for some time.” Steele said.
”Although the federal government’s bailout funds have been slow to allocate, they are still very critical. We want to thank industry representatives for applying for this funding for the industry, which is essential to ensure the production of West Coast ports and coastal communities.” Steele said .