India’s seafood exports under strain as export credit costs rise

(Hindu Business Line, Kochi, 5 September 2011) Seafood exports from India are under strain as export costs continue to mount. The hike in interest rate of export credit is costing the seafood industry dearly, said Mr Anwar Hashim, President of the Seafood Exporters Association of India (SEAI). The interest rate of export credit which was 9 per cent in April 2010 is now almost 12 per cent, an increase of 30 per cent.