 "Marine exporters wary of Greece debt crisis")
Seafood exporters are wary that the Greece crisis might have a ripple effect on the European Union market, which accounts for a major share of India’s marine exports.
“The EU is already passing through a recessionary phase. If exports to the EU shrink, impact on exporters is inevitable. The debt crisis in Greece will definitely have a ripple effect on the EU,” said Gorachand Mohanty, president, Seafood Exporters Association of India (SEAI), Odisha region.
“Our members are keeping a tab on the development, as Greece turned down the terms of an international bailout package on Monday. The impact of the crisis will be felt only next month,” he said, According to him, there is no immediate impact on the sector.
“The cautiousness of exporters is directly proportional to the cautious outlook of banks. However, there are no reports of cancellation of any orders, yet,” he observed.
Marine Products Export Development Authority (MPEDA) data showed the USA is the largest market for Indian seafood products, with a share of 26.46 per cent in terms of dollars, followed by South-East Asia at 25.71 per cent. The EU accounts for 20.08 per cent and Japan 9.11 per cent. Export to China has dropped drastically due to the weaker economic conditions in that country, reports said.
During the financial year 2014-15, exports from India reached an all-time high of $5,511 million. In the same year, exports to the EU have grown 7.64 per cent, 9.56 per cent and 9.22 per cent in terms of quantity, rupee and dollar, respectively, in 2014-15.
Mohanty said the representatives of the Odisha government had plans to visit Portugal to explore seafood exports opportunities there. But the Greece crisis might discourage them to undertake the trip now.
Ramesh Mohapatra, president, Utkal Chamber of Commerce and Industry, and a sea food exporter, said, export prices were already less than the purchase costs.
“The EU is already passing through a recessionary phase. If exports to the EU shrink, impact on exporters is inevitable. The debt crisis in Greece will definitely have a ripple effect on the EU,” said Gorachand Mohanty, president, Seafood Exporters Association of India (SEAI), Odisha region.
“Our members are keeping a tab on the development, as Greece turned down the terms of an international bailout package on Monday. The impact of the crisis will be felt only next month,” he said, According to him, there is no immediate impact on the sector.
“The cautiousness of exporters is directly proportional to the cautious outlook of banks. However, there are no reports of cancellation of any orders, yet,” he observed.
Marine Products Export Development Authority (MPEDA) data showed the USA is the largest market for Indian seafood products, with a share of 26.46 per cent in terms of dollars, followed by South-East Asia at 25.71 per cent. The EU accounts for 20.08 per cent and Japan 9.11 per cent. Export to China has dropped drastically due to the weaker economic conditions in that country, reports said.
During the financial year 2014-15, exports from India reached an all-time high of $5,511 million. In the same year, exports to the EU have grown 7.64 per cent, 9.56 per cent and 9.22 per cent in terms of quantity, rupee and dollar, respectively, in 2014-15.
Mohanty said the representatives of the Odisha government had plans to visit Portugal to explore seafood exports opportunities there. But the Greece crisis might discourage them to undertake the trip now.
Ramesh Mohapatra, president, Utkal Chamber of Commerce and Industry, and a sea food exporter, said, export prices were already less than the purchase costs.