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Shrimp exporters face cancellations from US buyers, association says
Both buyers and exporters of Indonesian shrimps are waiting for the negotiation result between Indonesia’s government and the Trump administration.
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Shrimp, seafood. (Shutterstock/-)
I
ndonesian shrimp exporters are facing cancellations by United States buyers, following US President Donald Trump’s sweeping tariff policies.
Budhi Wibowo, who chairs the Association of Indonesian Fishery Product Processing and Marketing Entrepreneurs (AP5I), reported that several US buyers had canceled contracts and postponed procurements after the tariff announcements.
Both buyers and exporters, he said, are waiting for the results of negotiations between the Indonesian government and the Trump administration.
“Several buyers have requested [the postponement] of contracts that have been shipped, while we wait and see for a clearer situation. The extent of the losses is yet to be calculated,” he explained on Monday, as quoted by Bisnis.
Indonesia enjoyed a trade surplus in fishery products last year, which increased 9.1 percent compared with the previous year.
The US is a key market for the country’s fishery products, with an export value of US$1.9 billion, accounting for 32 percent of the total fisheries exports from the country last year, according to the Maritime Affairs and Fisheries Ministry.
The ministry previously recorded a rising trend in US demand for fishery products, mainly for shrimp, with consumption estimated at more than 500,000 tonnes per year.
