http://www.dailytimes.com.pk/default.asp?p..._6-5-2006_pg5_2


Saturday, May 06, 2006

Seafood exports up by $30m in 2 months

By Tanveer Ahmed

KARACHI: A strong demand for cuttlefish and squid species of seafood in European countries and China is fetching better prices for seafood products of the country, which added $30 million in the overall seafood export in the last two months.

While there is a worldwide shortage of these two species because of short supply by India and West Africa, which usually meet the requirements of Europe and China, Pakistani seafood exporters grabbed the opportunity and fetched a better price by half a dollar more than normal prices during this season.

“This season Europe and China are placing orders with Pakistani seafood processors with huge orders of these species, which contributed to a rise the price of raw material by 50 percent”, said a seafood exporter on Friday.

Terming it a good sign for fishermen, who were crying because of low prices all through the season, he said that it has made up their losses to some extent, caused by high voyage cost.

The landing of cuttlefish and squid also saw high volume by 40 percent in March and April period compared with same months of last year, which also improved the raw material supply to seafood processing plants, which had been operating below their capacity for the last many months.

Seafood exporters said that although these species would be in abundance in June and July, which could further add to increase in seafood export, the Sindh government ban on trawling during the upcoming two months will stop fishing of this species, which were now in good demand.

They demanded of the government to reconsider its decision of slapping a ban this season to take advantage of the opportunity.

Vice-president of the Pakistan Seafood Industries Association Faisal Iftikhar said the increasing demand in China and Europe for these two species coupled with the huge catch this season enhanced substantially the seafood export.

“The seafood export figures for the first nine months of this fiscal has given a bright picture as around 30 percent increase has been recorded compared with the corresponding period of last year”, he pointed out and hoped that the total export target of $160 million would be easily met by the end of this fiscal.

He, however, sought greater incentives in the coming budget to steer this industry out of difficulties, which is a major source of livelihood for coastal population of the country.

Seafood is delicious.

buy some more then and help our exports!

I always try to buy Pakistani.

I think Pakistan should start exporting applepie! Anyway an increase in exports is always good news; Pakistan seriously needs to have exports and forex of around $67bn in 5 years time.

unrealistic given our trade deficit. Also why do we need to hold such huge reserves. Half that amount should suffice.