Steep rise in China demand helps arrest decline in marine exports

Value of shipments to that country rose 257 per cent to reach $811 million in FY19, and to $1,025 million in the first eight months of the current financial year

The sharp increase in demand from China has been able to stem the rapid decline in marine exports in the country seen last financial year. However, several issues need to be resolved in order to see exports rising further. In FY18, seafood shipments were valued at an all-time high of $7.4 billion but fell the following year by eight per cent on lower shrimp prices. However, so far this fiscal so far, they have been stable at last year’s level.

Meanwhile, there has been a spike in exports to China, with the value of shipments rising a staggering 257 per