Shrimp Farmers in India Face New Challenges Amid US Tariff Threats
Indian shrimp farmers are grappling with the potential impact of a proposed 26% US tariff on Indian exports. Farmers like R. Mahadevan are considering halting production due to rising costs and stagnant demand. The US market is crucial for Indian shrimp, accounting for 60% of exports worth $2.9 billion.
Indian shrimp farmers are on edge as they face the possibility of a significant US tariff increase. The proposed 26% tariff threatens to disrupt a major export market and further strain an industry already struggling with rising costs and stagnant demand.
Shrimp farmer R. Mahadevan, from Tamil Nadu, embodies the crisis, voicing concerns over potentially halting production as costs rise and profits dwindle. Trump's trade policies exacerbate the challenges, jeopardizing the livelihoods of tens of thousands of farmers reliant on the US market.
India exports over 716,000 metric tonnes of frozen shrimp annually, with 60% of it destined for the US. Farmers are now urging the government for support, advocating for reduced input costs and new market development to alleviate their financial burdens.
(With inputs from agencies.)
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