Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,093.356.65
Stock Analysis, IPO, Mutual Funds, Bonds & More

RCEP exit may hit shrimp exports

As per reports by Globefish, the FAO information and analysis wing of fisheries and aquaculture, India and Ecuador are two top shrimp producers in the world.

, ET Bureau|
Nov 15, 2019, 07.57 AM IST
0Comments
Kochi: Indian seafood exporters fear non-tariff barriers by China, currently one of the main buyers of Indian shrimp, after India’s recent withdrawal from the Regional Comprehensive Economic Partnership (RCEP).

“They have started to check consignments for white spot syndrome virus (WSSV) which they never have done before. We suspect they are bringing the controls after India’s exit from RCEP,” said Anwar Hashim, managing director of Abad Fisheries, adding that the virus is present in almost all the shrimp producing nations except in Canada and Australia.
shrimp-raph

China has been buying directly from India this year after it cracked down on the illegal border trade with Vietnam and had cut its import tariff. Earlier, the consignment used to reach China via Vietnam. The demand for the Indian shrimp from China had gone up with a middling shrimp harvest in the country and lower output in Thailand and Indonesia.

As per reports by Globefish, the FAO information and analysis wing of fisheries and aquaculture, India and Ecuador are two top shrimp producers in the world. The report said that during January-May 2019 there have been a 600 per cent rise in shrimp imports from India and 430 per cent from Ecuador to China.


Also Read

Is India ready for RCEP embrace?

Panel in favour of India joining RCEP

Japan keen to fix India’s RCEP issues

RCEP did not address our concerns: Piyush Goyal

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service