Seafood export to the US will go up further in the coming years : Seafood Exporters Association
India’s exports of seafood to the European Union are getting impacted, in part due to tightened quality checks, but the impact of that on total shipments is offset by increased supplies to the US. Until a decade ago, the EU bloc was the main buyer of Indian marine products, primarily shrimps, accounting for as much as 35% of the Country’s exports. That has now come down to just about 16%.
Seafood shipments to the US, meanwhile, have increased to 33% from just about 13%. With over a 31% share, Southeast Asia is the second largest buyer. Frozen shrimps account for 70% of India’s seafood shipments that touched Rs 45,000 crore in 2017-18.
India, meanwhile, has become the main shrimp supplier to the US. “The US market has opened up and the Indian shrimp is well accepted there now. I feel the export to the US will go up further in the coming years,” said Tara Ranjan Patnaik, Vice President of the Seafood Exporters Association of India. But oversupplies in the US had caused a price fall early this year. Though the prices have stabilised, traders are wary of price movements in future. This has also led Indian farmers to reduce shrimp production. Meanwhile, the industry is working on improving the quality of Indian seafood supplies as that is a key factor affecting exports.
“The Government and the industry are working towards zero antibiotic level in seafood export by educating farmers. We do not know when the US will start imposing strict standards. With the pesticide issue settled, our export to the EU could see a rise,” said S Chandrasekhar, President of Society of Aquaculture Professionals.
Source :- Dailyshippingtimes.com