India restricts U.S. domestic seafood market

India restricts U.S. domestic seafood market

American Association of shrimp producers (Aspa) has sounded the alarm: significantly increased the supply of seafood from India, Indonesia, Thailand, Vietnam, Malaysia and other countries. And it occurs amid a decline in domestic production of this type of seafood. As a result the overall trade deficit in the supply of shrimp amounted to nearly 4.5 billion USD.

«Over the last 10 years our production of shrimp experienced a sharp growth of imports of this product from abroad which leads to higher deficit in the trade balance of our country,» says David vail, Executive Director of Aspa.

According to experts, this was due to unfair competition in the U.S. market and the continuous subsidizing of imports from foreign governments. Such practice distorts the pattern of trade, does not allow for economic growth and stability of the food industry.

At the same time, exporters of seafood from India convinced that the American capacity for the production of shrimp is unable to meet the demand of the population, and increased consumption of shrimp from India indicates the high quality of this product.

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