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Market Reports

April 2, 2009
 
India Aqua Weekly: Japan - Vietnam Trade Pact may dent seafood exports (week ended Apr 1, 2009)
 
An eFeedLink Exclusive
 
 
Price Summary
  
The concluding week showed stability in prices except a single commodity Rahu (Andhra), which was up by a little margin of Rs.100 per 100 kgs.
 
Otherwise, all the remaining categories of fish varieties were remained stable and traded at the last week's prices. 
 
 
Market Analysis
 
Japan, the largest importer of Indian shrimp has signed free-trade agreement with Vietnam resulting in a pressure to India's marine product exports in the coming days, the Seafood Exporters Association of India (SEAI) has said.
 
The duty free access to Vietnam is likely to impair Indian seafood exports in cost competitive market like Japan. While duty on Vietnamese exports has been waived, Indian seafood exports continue to attract 2.5 to 15 percent duty into the Japanese market.
 
India is the fourth largest exporter of shrimp products to Japan. Indian exports to the Japanese markets had already been revealing a declining trend.
 
Though shrimp was quite predominant, India seafood exports to Japan included crabmeat, lobster, squid and octopus.
 
In value terms, seafood exports to Japan dipped from Rs13, 530 million to Rs.12, 370 million in 2007-08.
 
Domestic traders warn that Indian seafood export could dip further in the coming years.
 
Japan accounted for 16 percent of India's total overseas sale of marine products last year. With this move, Japan's top shrimp suppliers, Indonesia, Vietnam and Thailand have all bagged duty free status for their seafood exports to the Far-Eastern countries.
 
The latest pact removes the 10 to 15 percent duty, which was in vogue on Vietnamese shrimp, lobsters and other seafood imports into Japan.   
 
 
Market Forecast
 
Still the trends in the aqua markets remained stable in the coming week due to poor off take in the market.
 

Weekly transacted prices of major seafood species in India

Varieties

Prices as Mar 26, 2009
(Rs/ 100 kg)

Prices as Apr 1, 2009
(Rs/ 100 kg)

Price change
(Rs/ 100 kg)

Hilsa

Rs.    22, 000

Rs.    22, 000

    Stable 

Rahu (Andhra)

Rs.      4, 600

Rs.      4, 700

 + RS. 100  

Rahu (Local)

Rs.      8, 000 

Rs.      8, 000

     Stable

Prawn zambo a

Rs.    32, 500

Rs.    32, 500 

     Stable

Prawn zambo b

Rs.    20, 000

Rs.    20, 000

     Stable

Prawn zambo c

Rs.    12, 500 

Rs.    12, 500

     Stable

US$1 = Rs.50.36 (Apr 2, 2009)  


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