Post Barcelona observations

A little over a week later returning from Barcelona show and some observations on the location and the mood in the market speaking to many partners and colleaques in the business.

Barcelona and Spain is a much better location for the event, I have not heard a single person complain about the shift, much better service, food, and climate, and the logistics around the fair works much better than what we were used to in Bruxelles, cadeau to Diversified for this shift.

Market mood:

Overall the feeling was good at the show, even if there are differences across the market. China has returned on the world stage in a strong way and is looking for product after corona restrictions are lifted and is hence very bullish in market demand in especially lobster , coldwater prawns and Greenland halibut seen from RG perspective. China is now the worlds largest net importer of seafood, and its role as market is growing while its role as processor is diminishing. Eastern Europe is emerging as a processor for Europe as weaknesses in supply chain became evident during covid 19, and especially Poland is becoming a stronger production hub for seafood in Europe . Over all there are stong concerns of inflation in the markets and how end consumers can cope with increasing living costs. In many markets with less spending power it is certain that consumers are trading down on their proteins to cheaper fish or chicken. This is especially true for Southern Europe but also a concern in other markets. Brexit was also a theme and how this market has suffered as a consequence with a growing concern on the future , with less spending power in this important market for cod and coldwater shrimp. It was particular good to see so many from Ukrania at the stand and their ability to continue business despite the war.

All in all this was a great show and it was really good to see business partners again in full scale after the pandemic, and as a very dynamic industry we will also cope with the current challenges in the market and develop stronger into the future

BR

S?ren Eschen

www.royalgreenland.com