India seafood exports to Gulf hit by West Asia conflict
India's seafood exports to the Gulf countries have taken a big hit as the West Asia conflict drags on, with shipments almost coming to a standstill.
West Asia is a key market, making up about ₹2,500 crore or 4% of India's total seafood exports, so this slowdown stings.
Hopes for a bounce-back after progress on trade agreements with the EU and US have also fizzled out due to shipping disruptions and port delays.
Red Sea Suez route delays shipments
Exporters are stuck with longer delivery times since most ships still use the Red Sea-Suez Canal route, which means delays and fewer options.
On top of that, rising oil prices have pushed up freight charges, insurance premiums, and war-risk fees.
With seafood being so perishable, these delays are risky: many exporters are now postponing or even canceling shipments altogether.