Europes sluggish buying hits Indian octopus exports
The Dollar Business Bureau India could not encash 93 percent increase in availability of octopus in 2015-16, when compared to the previous year. This is mainly due to the sluggish demand in the European markets and stiff competition from the countries of South-East Asia. More than 11,409 tonnes of octopus were caught in Indian sea shores in 2015-16, as per the data from the Central Marine Fisheries Research Institute (CMFRI). The domestic market for octopus is very less, and majority of its stock needs to be exported to other countries. Indian octopus’ exports account over Rs.200 crore in a year, mostly found in between August and November. Bimaldas, Partner of Emerald Exports and Imports said that the Europe’s purchasing capacity has come down. ...
