Though the export shipments have stopped since final fortnight, US shopping for is anticipated to return quickly as at present, each the exporters and importers are awaiting corrections out there.
In the meantime, US shoppers should pay larger for his or her favorite seafood from India, as no nation can instantly change India's value-added merchandise, mentioned exporters.
In line with authorities knowledge, India exported seafood value $7.45 billion in 2024-25 fiscal of which the US accounted for $2.71 billion. Frozen shrimp accounts for almost 70% share of India's complete seafood exports.
“The shipments of previous orders have been suspended; not cancelled, in the meanwhile. There's a basic consensus amongst seafood exporters that we are going to move on your complete tariff to the US patrons,” mentioned a veteran seafood exporter, who declined to be recognized.
“The main US retailers that we work with have determined to inventory their cabinets by passing on the rise in tariffs to their shoppers and let the shoppers determine if they'll take in the rise in costs,” mentioned a number one exporter of value-added seafood to the US from south India, who requested to not be recognized. He added, “If we don't get repeat orders, then we are going to work on who cuts the margins by how a lot.”The influence of the 50% tariff can be completely different on completely different firms relying upon their product portfolio and the profile of their patrons.
