Seafood exports to grow above 20% in FY18

Exporters are upbeat despite major importing countries adopting protectionist measures

Seafood exports are likely to grow over 20 per cent in 2017-18 after the figures touched an all-time high of $5.78 billion (Rs 37,870.90 crore) in 2016-17.

The exporters are upbeat despite the fact that the major importing countries are taking protectionist measures to safeguard their local industries.

Recently, The American Shrimp Processors’ Association has named India, along with Indonesia, Thailand, Vietnam, Mexico, China, and Malaysia, as seven of the 13 countries with which the US ran a significant overall shrimp trade deficit in 2016. The US trade deficit in shrimp was $4.5 billion in 2016. 

Similarly, the International Trade Commission of the