Seafood firms slash production 50%

SEAFOOD companies in the district have slashed production by 50% after the United States imposed steep tariffs on Indian imports from Wednesday.

- S GODSON WISELY DASS

The levy, introduced by US President Donald Trump, has raised duties on seafood imports to between 58.42% and 60%, throwing the industry into turmoil. Of the 25 seafood exporting companies in Tamil Nadu, at least 15 operate from Thoothukudi, which ships frozen shrimps, squids, octopus, fish and sea crabs to the US, Japan and Europe. These firms source catch from 13 coastal districts, process and package it for shipment through VOC Port.