Seafood exports down 6.8 percent to $293.8 million in July-March

KARACHI: Pakistan’s seafood exports declined 5.07 percent to 130,830 tons in the first nine months (July-March) of the current fiscal year (2018/19) compared to 137,819 tons during the same period of the last fiscal year, Pakistan Bureau of Statistics (PBS) data showed on Thursday.

In terms of dollars, value dropped 6.88 percent to $293.8 million against $315.6 million in the corresponding period last year, according to the PBS numbers.

Pakistan’s fish and fish preparations’ exports decreased to 20,412 tons in March 2019, down 16 percent against 24,288 tons exported in the same month last year. However, on a month-on-month basis, exports were up 31.7 percent in March 2019 against 15,499 tons in February 2019.

China remained one of the largest importers of Pakistan’s fish and fish preparations, followed by Hong Kong, Indonesia, Egypt, Middle East, UK, Thailand, South Korea, Bangladesh etc. A stakeholder told The News that quality seafood stocks were depleted in Pakistani waters because of overfishing and unlawful fishing practices.

He added that Pakistan mostly exports seafood to China at lower rates, while European Union (EU) had lifted a ban it imposed on two factories without inspecting them on ground, only due to the political pressure.

“Revival of exports to EU had no significant impact over Pakistan’s total seafood exports,” the exporter said.

Faisal Iftikhar, former president Pakistan Fisheries Exporters Association told The News that Pakistan’s fish and fish preparations export were fetching $2.27 to $2.5 per unit, which is the lowest in the region’s average of around $7/unit.

“Our prices show that we export more fish meal and our prices are lower than quality fish meal price, which fetches $3/unit. We are going behind low quality exports,” Iftikhar said.

Pakistan’s seafood export to EU have resumed, but only one factory, out of approved two factories, is exporting to EU, he said adding, only two factories were approved by the authority; however, prices offered by the EU member states were low.

Captain (Retd) Akhlaque, who owns the only factory that is exporting seafood to EU, said, “These prices are similar to China, which are very low”. “We are not in a bargaining position. India is controlling the prices, whose 200 factories export to EU.”

According to Marine Fisheries Department, there are around 150 fish and seafood exporting firms in Pakistan, of which 35 operate in the premises of Karachi Fisheries Harbour.

Akhlaque further said that commercial fish stocks were not depleted completely and hoped that fish stocks would develop again as a ban placed on fishing during the breeding season last year had been implemented fully.