The US & EU aquatic market

The United States is India’s largest aquatic market, but customs duties on shrimp imports from India to the United States have increased from 84.8% to 34.3%. Except for the Liberty group, these tolls include all Indian exporting companies. The decision was followed by a review by the American Department of Commerce (DOC). The study found that Indian frozen shrimp was sold on the aquatic market during the period from February 1, 2016, to January 31, 2017, at a price below normal value.

The DOC said that if these preliminary results were in line with the final results, it would be the responsibility of the country’s customs authorities to examine the documentation of anti-dumping practices and also invite all stakeholders and experts to discuss these preliminary results. Announce your opinion. This move is in line with the Trump government’s focus on supporting domestic producers, which may cause importers to be concerned not only from India but also from other sources.

Recently, 11 US ambassadors have been supporting the IMP Implicit Shrimp Initiative (SIMP). If approved, shrimp importers will have to comply with similar standards that have long been needed by the US shrimp industry. However, India’s major exporters feel that the business is not under the threat of fear and increased demand for shrimp in the United States (see chart). American shrimp imports increased by 20% in January 2018, with 61.593 tonnes accounting for about 32% of India’s total exports, and worth a value of $ 201 million.

By 2016, the European Union has made it more difficult to monitor and control its aquaculture production standards, sampling 50% of shipments. In the coming months, Indian exporters in the UK will see that the next EU food law will not be implemented in March following the departure of Britain from the European Union. A source said that if the withdrawal is difficult, the UK will need to set new rules, but if the soft exit happens, the agreement will be closer to the EU in order to facilitate trade with the EU. However, any new legislation is unlikely to reduce the stringent health and food safety requirements that the UK imposes. Read more in Business Line.