Seafood exporters and aqua farmers in Andhra Pradesh have lost more than Rs 50 crore over the last two months because of rupee rise. | |
| Exporters generally purchase shrimp from farmers by paying the existing dollar value and take 40-50 days to export the same stock. In the months of March and April, exporters had stocked huge quantities of shrimp as the dollar was hovering around Rs 46. |
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| "The dollar is now down to Rs 40-41, which has resulted in exporters losing nearly Rs 3-4 on each kg of shrimp exports. During April and May exporters lost over Rs 50 crore," Y Surya Rao, president, Seafood Exporters Association of India (SEAI), Andhra Pradesh region, told Business Standard. |
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| Exporters make $4.5-6.5 on each kg of shrimp exports depending on the size and quality. Though the exporters are earning the same money now too, this gain when converted into rupees, results in a loss for them, K Viswanadha Raju, former president, SEAI, AP region, said. |
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| Due to rupee appreciation, the shrimp purchasing prices have been reduced by 15-25 per cent since the last 20-30 days. |
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| Two months back exporters paid Rs 270-280 for 30 count kg shrimp, Rs 210-220 for 40 count and Rs 170-180 for 50 count. They are now paying Rs 230-240, Rs 160-170 and 130-140 respectively, Raju added. |
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