Shrimp Exporters Seek Central Aid Similar To Covid-19 Support
Shrimp exporters mainly catering to the US markets have urged the Centre to provide them financial aid similar to what was extended to affected business entities during the Covid-19 phase.
Vijayawada: Shrimp exporters mainly catering to the US markets have urged the Centre to provide them financial aid similar to what was extended to affected business entities during the Covid-19 phase.
The exporters are a disappointed lot with no major initiative coming from the Centre with regard to the US tariff increase, which came upto a total of 63 per cent on the invoice. They want the Centre to persuade bankers to extend loans to them at low interest rates, give a guarantee for such loans, and extend the loan repayment period.
They noted that the US has imposed an additional 50 per cent import duty burden on exports from India.
Governmental support was also sought for accessing alternative international markets to export shrimps mainly to China and European countries. At present, the exporters are diverting the shrimp stocks to the local market and pinning hopes on China and Europe.
They fear that in the event of getting a major crop in the upcoming season, they would face major trouble in view of the US tariffs. They also fear a crash of price with excess local supply and less demand both in domestic and international markets.
Moreover, the dwindling export potential would be having an adverse impact on stakeholders like the processing and storage units and other ancillary units, affecting employment to thousands of workers and their dependent families.
Member of the all India seafood exporters association Thota Jagdeesh said, “The shrimp exporters are worried in view of a lack of initiative from the Central government to get the US to relax its tariffs or to facilitate bank loans at low interest rate.”
