Seafood Boom in Pune: Trump’s Trade Moves Turn Tide for Local Prawn Sellers
Seafood Boom in Pune: Trump’s Trade Moves Turn Tide for Local Prawn Sellers
Seafood lovers in Pune are seeing a welcome dip in prawn prices, thanks to international trade tensions between the United States and its global partners. A recent hike in import tariffs imposed by the US government has shaken up the seafood export industry, resulting in more affordable prices for domestic consumers.
Indian prawns, a major export to the US valued at nearly $1 billion in the last fiscal year, have been hit hard by new tariff regulations. In a recent move, former US President Donald Trump increased tariffs on Indian seafood, raising the total duty to an estimated 45% when including countervailing charges. This is a steep jump from the earlier rate of around 8%, as reported by The Indian Express.
Although Trump has announced a 90-day suspension on additional tariffs for most countries—excluding China—the damage to Indian seafood exports appears to be already unfolding. Exporters are reportedly scaling back shipments to the US market, leading to a surplus of prawns in the domestic market. This oversupply has caused prices to drop significantly in Indian cities, including Pune.
Local fish sellers are witnessing the effects firsthand. “The price of prawns has fallen by nearly 20%,” said the owner of a fish shop. This price drop has translated into increased demand from consumers. Another person, who runs a seafood store in Kharadi, noted a surge in customers. “Prawns are boneless and easy to prepare, making them a favorite among families. Where customers once paid Rs 400 to Rs 450 per kg, they now pay around Rs 350. That makes a big difference,” he said.
Meanwhile, the geopolitical backdrop continues to evolve. On the global front, Trump’s administration has escalated tariffs on Chinese goods to an astonishing 125%, accusing Beijing of unfair trade practices. While most nations have been granted a temporary reprieve, tensions remain high.
In retaliation, both the European Union and China have introduced their own sets of counter-tariffs. According to The Washington Post, the EU has approved duties of up to 25% on a variety of American products, ranging from soybeans to motorcycles. China has responded even more aggressively, slapping an 84% duty on all imports from the US.
As the global trade battle intensifies, Indian seafood exporters continue to navigate uncertain waters. But for now, at least, consumers in cities like Pune are reaping the benefits—enjoying their favorite seafood at a fraction of the usual cost.
