India to temporarily waive import duties on shrimp broodstock and aquafeed
Frozen Squid
Frozen Mussel
Frozen Krill
Frozen Common Shrimp & Prawn
India
Published Feb 4, 2022
Tridge summary
India has suspended import duties on shrimp broodstock, aquafeed and feed ingredients like artemia, krill, mussels and squid in the latest round of budget negotiations for 2022, but some in the industry are wary of the measure.
Original content
India’s finance minister Nirmala Sitharaman told reporters in a press briefing that, “duty is being reduced on certain inputs required for shrimp aquaculture so as to promote its exports.’’ The fee reductions are being applied to shrimp broodstock, live feed used in hatcheries and formulated aquafeed used at conventional shrimp farms. The concessions will be in place for a set period – from 2 February 2022 to 1 May 2022. Though this appears to give India’s shrimp sector a boost, local reporting says that industry members are cautious about the impacts of the measures. Sources in the Marine Products Export Development Authority (MPEDA) say that the move should bring down production costs for farmers who have been contending with disease outbreaks, depressed shrimp prices and logistical issues stemming from the Covid-19 pandemic. India’s shrimp industry is reliant on imported larval seeds, artemia and shrimp broodstock. The previous import duty on broodstock of Vannamei and Tiger ...
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