KARACHI: Fish exports crossed the barrier of $300 million for the first time in the country’s history and fetched a higher average unit price (AUP) in 2011-12, compared to the previous year, despite a decline in the quantity exported, and a continued ban on export of fish to the European countries.

A total of 124,489 tons of fish were exported in 2011-12, earning $315 million, compared with 133,926 tons worth $296 million in 2010-11.

Chairman Fisheries Exporters Association of Pakistan Faisal Iftikhar linked the increase in the value of exports to a higher AUP of $2.53 per kg in 2011-2012, as compared with $2.21 per kg in 2010-2011.

Pakistan is losing out on $50 million each year in fish exports from EU’s market following a ban in April 2007 due to quality issues.

However exporters have found new markets to nullify the negative impact of the EU ban.

Iftikhar said that the fish exports to China remained brisk during the year as exporters were able to get a better price than what European countries may have offered for almost all varieties. Egypt, Saudi Arabia and the Middle East were among some of Pakistan’s main fish export destinations.

An estimated 342,655 tons of fish and other varieties came from Sindh and Balochistan, with Sindh’s contribution of 207,540 tons.

The Chairman was of the view that the landing of fish which was six to eight per cent lower from the previous year caused the shortage in raw material but an 8.8 per cent devaluation of the local currency against the dollar helped boost exports.

He also added that there were reports that an EU mission may allow two exporters to resume exports to European countries, when it visits in September.

Pakistani fish was also being illegally exported to Iran, Iftikhar said, which was causing a loss of Rs10 to Rs20 daily during peak fish eating season.