Rs 25,000 cr loss for AP's shrimp farms after US tariffs

In separate letters addressed to Union Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal and Fisheries Minister Rajiv Ranjan Singh, the Chief Minister highlighted the difficulties being faced by the southern state's aquaculture sector and requested their support. The taxes imposed by America majorly hit shrimp exports.

It is estimated that a loss of Rs 25,000 crore would have occurred. Up to 50 per cent export orders have been cancelled, said Naidu in his letters to the Central Ministers, according to an official press release on Sunday night. According to the CM, taxes to the tune of up to Rs 600 crore have been levied on exports happening through 2,000 containers. -- PTI