March 23, 2020

 

India's seafood exporters fear stock pile up

 


India's seafood sector fears piling up of stocks, with exports to US, UK, China and other eastern countries affected due to COVID-19.

 

"Around 25% of shrimp exports are to China and there is a significant fall in demand. This has already led to oversupply of shrimp in the Indian market," a senior official from Seafood Exporters Association of India said. "One of the major reasons for this is also because Chinese markets were not able to sell their inventory during the holidays and so they are not accepting new orders," he added.

 

Seafood exporters in Telangana and Andhra Pradesh have informed that soorai (tuna), seerfish, kerai (yellow tuna), mayil (sailfish), cuttlefish, sardines, shrimp, silver, freshwater prawns, white leg shrimp, Tilapia and black pomfret have seen a dipping demand in European markets which account for almost 20% of Indian exports.

 

"Most of the seafood consuming countries in the middle east and Europe like Italy, Spain, Greece, Portugal and France have stopped imports and we are asked to stop sending shipments till the situation gets better," stated an official from Usha Seafood in Kakinada.