February 16, 2010

Pakistan's seafood trade reports US$100-million loss on EU ban

Pakistan has suffered losses of at least US$100 million due to the ban by the EU on its seafood products since 2007.

If Pakistan resumes its seafood export with the EU by now, it is expected to share about 26% of the country's total seafood exports to the world. Pakistan suffered about six months of a de facto ban in 2004-05 and could hardly export about US$28.695 million of seafood.

However, with the ban removed in 2005-06, the country's export of seafood to EU reached US$50.059 million, when its total annual export of seafood was US$194 million, indicating that it could be the minimum export benchmark for Pakistan in the union's markets in the future, according to Marine Fisheries Department (MFD).

Until the EU's second ban on April 12, 2007, the country had exported about US$31.666 million of seafood to the union's markets, which was about 16.81% of its total US$188.320 of seafood exports.

The country's exiting seafood export has improved to US$237 million annually, despite losing the huge EU market. This would have swelled to US$300 million if the former government had keenly followed the EU's terms, says the seafood industry.

According to MFD, Pakistan's major shrimp market was Netherlands with 90 percent export share. Squid and cuttlefish were mainly exported to Italy and Spain. The Sole fish had a great appeal in France and Germany. The EU team visit to Pakistan was expected by mid of the last October to inspect the Karachi fish harbour, exporting seafood companies and the fishing modified boats, but the country's bad law and order compelled the team to it cancel its visit.