Vietnam’s loss is India’s gain as US regulates illegal shrimp imports
The US’s move to introduce measures to prevent illegal, unreported and unregulated (IUU) fishing and misrepresented seafood from entering the country is likely to help Indian shrimp exports because new regulations will hurt exports from Vietnam, India’s main competitor.
The key market for global seafood producers, the US, has introduced the Seafood Import Monitoring Programme (SIMP), covering 13 species, including shrimp.
SIMP becomes applicable for shrimp on December 31 this year. The programme mandates additional data requirements to trace the supply chain of seafood from the point of harvest to the point of entry into the US.
For the period ended March 2018, 2,433 aquaculture farms totalling 12,509 hectares of farmed area in India were registered under the Coastal Aquaculture Authority (CAA).
“Most of Indian shrimp exports to the US and EU are from registered farms; however, shrimp exports to Vietnam (for forward shipping to America after value addition) come both from registered and unregistered farms and thereby hampers Vietnam’s re-export prospects to the US (owing to the lack of traceability). This is expected to support a shift in shrimp exports from
Vietnam to India,” said Pavethra Ponniah, vice-president and sector head, ICRA Ltd.
Source: Business Standard