‘Fishing’ for exports

Pakistan’s fish and fish preparations exports have shown a growth of 26 per cent in quantity and 23pc in value during 5MFY23 as efforts by the exporters to find new markets with product diversification, rupee devaluation against the dollar and high value of some species are finally paying off. Industry sources say that exporters have made serious efforts to enhance exports without any support from the government. Exporters shipped 71,659 tonnes ($186 million) during 5MFY23 compared to 56,731 tonnes ($150m) in the same fiscal period. “Some species like squids, cuttlefish and ribbon fish have fetched better prices in the world markets,” Vice Chairman of Pakistan Fisheries Exporters Association (PFEA), Mian Saeed Farid said. China had imposed a sanction on imports of jellyfish from Pakistan during FY22, but from July 2022 onwards, it had been lifted, which is also contributing to improving exports. Pakistan’s fishery product exports heavily rely on China which enjoys over 50pc share of the country’s total fish exports.