The volume of mergers and acquisitions in the seafood sector announced so far this year has plummeted compared to the same period last year.

An uncertain macro-economic climate with spiraling inflation rates, and high interest rates that make borrowing more expensive are pressuring companies and lowering their appetite to strike deals.

If this trend continues, 2023 would be the first year since 2020 when deal making in the sector has decreased.

According to IntraFish research, a total of 47 deals were closed or announced during the first six months of this year, a steep drop from the 63 deals announced during the corresponding months last year.