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India to temporarily waive import duties on shrimp broodstock and aquafeed

Price Trend
Frozen Squid
Regulation / Agreement
Feb 3, 2022
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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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