Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Fish prices crash; Feed cos close as fish meal industry protests 5% GST.


Date: 23-08-2019
Subject: Fish prices crash; Feed cos close as fish meal industry protests 5% GST
Kochi: Fish prices have crashed even as the fish meal industry is on an indefinite strike from August 1 against the levy of a 5 per cent GST with retrospective effect, hurting both fishermen and the fish meal industry. 

While cheaper fish may bring cheer to consumers, non-edible and trash fish and fish wastes that go into the making of fish meal constitute a significant part of the income for the fisher community. Closure of more than 70 fish meal factories, located mainly in Karnataka, Gujarat, Tamil Nadu, Kerala, Maharashtra and Goa has thus robbed them of a large chunk of income. 

“Fishermen used to earn Rs 50,000-60,000 a day from the sale of surplus and trash fish that are collected in the net to fish meal factories. The revenue stream that could meet their diesel expenses is blocked now,” said Joseph Xavier Kalappurakkal, the secretary of the All Kerala Fishing Boat Operators Association. The prices of fish like sardine and threadfin bream used by the fish meal factories have fallen by more than 50 per cent in the Kerala and Karnataka markets since the strike began. 

Small shrimp feed companies have already been hit by the shortage in supply of fish meal, an essential ingredient of shrimp and fish feed. 

“Insufficient supply of fish meal has come on top of a reduction in sales due to diseases and lower prices of shrimp. We are managing with substitutes like soyabean meal and synthetic additives that are not as effective as fish meal for the growth of shrimps,” said Ravi Pelluru, the chief executive of BMR Industries. 

Another option is import of feed, which is costly. “Imports involve 20 per cent additional cost and moreover it takes around three months for the feed from main producers like Peru and Chile to reach India,” said PS Narendra, the executive director at Growel Processors. 

Fish meal was not taxed before GST. Even after the GST implementation, though it was initially taxed at 5 per cent, it was shifted to the exempted list through a corrigendum. In December 2018, a clarification said fish meal was taxable and factories were served notices to pay tax dues and penalties. 

“Many of these factories have taken huge loans and the tax calculated on turnover will be a sizeable sum that, if paid, will lead to the industry’s fall,” said Dawood Sait, the secretary of the All India Fishmeal & Oil Manufacturers and Merchants Association. 

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 13-06-2025
Notification No. 43/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 11-06-2025
Notification No. 42/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 06-06-2025
Notification No. 13/2025-Customs (ADD)
Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul

Date: 15-05-2025
Notification No. 34/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001