Sea food industry hit by rupee appreciation: Exporters

Kochi, June 12 (UNI) The Sea Food Exporters Association of India today said the seafood sector had incurred a loss of Rs 500 crore due to rupee appreciation against dollar and urged the Centre to provide immediate relief to the industry.

In a statement here, Association President A Tharakan said the industry was in a precarious situation as the exporters were not in a position to reduce raw material price to compensate the rupee appreciation.

The shrimp exports from India, which account for almost one billion dollar, had been suffering for the last two years and the Centre should provide help for this sector, he said.

Even though the fishing and culture shrimp season had started the exporters were unable to confirm orders due to rupee appreciation, Mr Tharakan added.

UNI