May 25, 2006

Indian seafood exporters court Italian market

India has sent a nine-member delegation to Italy, hoping to open up new markets for seafood there. The team is expected to hold a series of talks with major buyers.

One quarter of India's seafood exports goes to the EU and the Italian market is increasingly attractive, said delegation members.

Major Italian buyers have expressed interest in joint ventures with Indian exporters. Italian importers hope to own a stake in Indian firms, give technical support or have exclusive buying arrangements with exporters.

India's seafood market is seeking new markets partly because of the difficulties posed by anti-dumping shrimp duties of the US which is currently under review.

The US Department of Commerce has sent out a questionnaire to about 300 Indian seafood exporters. So far, only half have replied. Those who have not replied by Jun 5 may face an 89-110 percent penal duty when they next import to the US.