GSA Unveils Seafood Processing Standard 6.0: A New Era in Global Seafood Safety and Sustainability
The Global Seafood Alliance (GSA) has made a significant milestone in the seafood industry with the official release of the Seafood Processing Standard (SPS) version 6.0. This latest iteration is designed to meet the stringent requirements of the Global Food Safety Initiative (GFSI) and marks a substantial advancement in ensuring
India’s Frozen Shrimp Exports Under Threat: US CVD Imposes Significant Challenges
The Indian seafood industry, particularly the frozen shrimp export sector, is facing a significant hurdle as the United States has imposed hefty countervailing duties (CVD) on imports from India. This development threatens to disrupt the lucrative trade relationship between the two countries and has the potential to impact livelihoods of
Revitalizing India’s Seaweed Industry: New Guidelines for Importing Live Seaweeds
In a pivotal move to enhance the development of seaweed enterprises, the Ministry of Fisheries, Animal Husbandry and Dairying has notified the ‘Guidelines for Import of Live Seaweeds into India’. This initiative is designed to bolster the economic prospects of coastal villages, ensure livelihood sustainability for the fisher community, and
US Import Ban on Indian Wild-Caught Shrimp: A $500 Million Loss and Its Impact on Fishermen’s Livelihoods
The United States has imposed a ban on the import of wild-caught shrimp from India, citing concerns over the use of turtle excluder devices (TEDs) in Indian fishing vessels. This move has resulted in a significant loss of approximately $500 million for the Indian seafood industry, with far-reaching consequences for
Goa’s Seafood Exports Decline by 14% Amid Global Challenges and Shifting Consumer Preferences
Panaji: Goa’s seafood exports, which had been on a steady rise over the past five years, faced a significant setback in the 2023-24 fiscal year, with a 14% decline in export volumes. After reaching a peak of 63,333 tonnes worth ₹1,00,761 lakh in 2022-23, the export figures dropped to 55,167
Kerala’s Shrimp Export Crisis Deepens as Japan Cuts Imports: Implications for the Industry and Farmers
The shrimp export crisis in Kerala has reached a critical juncture following Japan’s recent decision to significantly reduce its imports of Indian shrimp. This development poses serious challenges for the state’s aquaculture sector, especially in the context of its dependence on the Japanese market, which has historically been a key
Indian Shrimp Industry Fights Back Against Allegations, Seeks Government Support
Indian shrimp exporters are facing accusations from a foreign lobby that their products are contaminated and produced using forced labor. This lobby is targeting the lucrative US market, where India has a 40% market share. The accusations stem from allegations by a former employee of a Kerala-based shrimp processing company,
India Aims to Double Seafood Exports in Two Years, Debunking Safety Concerns
A senior Indian government official has outlined ambitious plans to significantly boost the country’s seafood export industry. The goal is to reach Rs 1 lakh crore (approximately $12.5 billion) within the next two years. This strategy hinges on increasing processing capacity and transitioning to higher value-added seafood products. The official,
A Heartfelt Dive into India’s Shrimp Saga: Crafting a Future Where Everyone Wins
Let’s chat about something that’s been bubbling up in the world of seafood – the Indian shrimp industry. You might’ve heard some buzz, with folks taking sides and a bit of drama unfolding. Elias Sait from the Seafood Exporters Association of India wasn’t too thrilled, calling out what he sees
Shrimp Sinking: What’s Causing the Industry Downturn?
The shrimp industry holds a significant position in India’s total seafood basket. In FY23, the country’s seafood exports amounted to $8 billion, with frozen shrimps commanding a whopping 70 per cent share of this total. However, the industry has weathered rough times of late. From losing its crown as the
Indian seafood exporters benefit from rupee settlement with Russia
India’s seafood exports to Russia have seen a significant boost in the last nine months, thanks to the new mechanism of trade settlement in rupees that was introduced by the Reserve Bank of India (RBI) in July 2022. According to the data from the Marine Products Export Development Authority (MPEDA),
High Hopes for High Seas: Can Infrastructure Investment and Seafood Boost India’s Exports
India’s export scene faces a tough challenge with a recent 5.7% dip in merchandise exports. However, amidst the decline, a glimmer of hope emerges from two key areas: high capital expenditure (capex) and a focus on boosting seafood exports. Let’s dive into the details and see if these strategies can
Navigating the Blue Wave: A Deep Dive into India’s Seafood Sector and the Top 5 Stocks Poised for Exponential Growth
Introduction:India, blessed with an extensive coastline and thriving river environments, has emerged as the world’s third-largest seafood-producing nation, capturing global markets with its quality seafood. The recent surge in seafood exports, reaching an all-time high of US$8.09 billion in the financial year 2022-23, has catapulted the sector into the spotlight.