EsUpdated U.S. seafood import regulations under the Seafood Import Monitoring Program (SIMP) have tightened the rules relating to catching techniques and may lead to a drop in Indian exports, Economic Times reports. While the U.S. rules are inline with WTO standards they may cause a diversion of Indian exports to China which has increased duties on U.S. fish exports as outlined in Panjiva research of September 12.
The U.S. is India’s most significant export market for fish, Panjiva data shows, with $2.2 billion of shipments (or 30.6% of the total) in the 12 months to June 30. Diversions to China may require a significant sales effort given exports were just $250 million over the same period. Shipments of shrimp, the largest product at 70.0% of the total with America accounting for 42.0% of the total, or $2.1 billion. China’s imports of shrimp were $137 million.
Source: Panjiva
