Fishmeal duty cut to help revive shrimp exports to US, other countries
Fishmeal contributes to 30% of shrimp feed. India imported 36,230 tonnes of fishmeal at a value of $48.54 million in FY22. Cultured shrimp account for 65% of India’s seafood exports, which stood at $7.76 billion during FY22. The share of Indian shrimp to world shrimp trade is around 26%. The country also contributes 42% of the US’ shrimp imports. As much as 43% of Indian seafood exports in value goes to the USA.
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