November 14, 2007

Pakistan's fish exports plummet by 24 percent in third quarter after EU ban

After the EU banned seafood imports from Pakistan, the country's average fish price plunged to US$1.45/kg as against US$1.73/kg on-year.

Pakistan exporters had to sell their products at very low prices to other countries since April this year, after EU's ban.

2006 recorded US$45.5 million in sales, while 2007 only attained US$34.4 million, a sharp drop of 24 percent.

Although the government had earlier set an overall fish export target worth US$230 million for 2007-2008, the target appeared unachievable given a close EU market.

A meeting to address the crisis was held at the Ministry of Food, Agriculture and Livestock. Officials reviewed the deficiencies pointed out by the EU inspection mission last January to come up with solutions.