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India to temporarily lift import duties on shrimp broodstock and feed

Frozen Common Shrimp & Prawn
India
Regulation / Agreement
COVID-19
Feb 11, 2022
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of the measure. Politicians hope that the temporary suspension of import duties will reduce production costs for shrimp farmers. India’s finance minister, Nirmala Sitharaman, told reporters at a press briefing that “tariffs are being reduced on certain inputs needed for shrimp farming to boost their exports.” Benefits will be valid for a set period – from February 2, 2022 to May 1, 2022. While this appears to be giving a boost to India’s shrimp sector, local reports say the industry is wary of the impact of these measures. Marine Products Export Development Authority (MPEDA) sources say the move should lower production costs for farmers struggling with disease outbreaks, low shrimp prices and logistical problems caused by the Covid-19 pandemic. Shrimp production in India depends on imports of larvae, brine shrimp and shrimp broodstock. The previous import duty for Vannamei and tiger shrimp broodstock and brine shrimp was 10 percent. Removing this duty in the 2022 budget will help ...
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