Indian seafood exports rise by over 13%

Kochi, May 3: India exported 10,85,378 MT of seafood valued at Rs 35,916.60 crore during the first 10 months of the FY2018 as against 9,54,744 MT worth Rs 32,620.03 crore in the previous year, registering a growth of 13.68 per cent in quantity and 10.11 per cent in value terms, an official said on Thursday.

In a statement issued here, the Marine Products Exports Development Authority (MPEDA) said that the USA, South East Asia and the European Union (EU) continued to be the three major importers, while the demand from Japan registered a substantial increase during the period.

Frozen shrimp continued as the top export item of marine products basket, with a share of 42.05 per cent in quantity and 69.95 per cent of the total earnings. The overall exports of shrimp, which was to the tune of 4,56,404 MT — as against 3,78,355 MT in the previous fiscal — valued at USD 3,946.30 million, grew by 20.63 per cent in quantity and 21.61 per cent in dollar terms.

The largest markets for India’s frozen shrimp were the USA (1,87,873 MT), South East Asia (1,27,525 MT), EU (62,164 MT), Japan (28,064 MT), Middle East (15,801 MT) and China (9533 MT). Japan emerged as the major market for Black Tiger shrimp with a share of 49.38 per cent in dollars followed by the USA (18.09 per cent) and South East Asia (15.06 per cent).

“India’s exports of seafood remained on the upward curve despite a fall in global shrimp prices triggered by oversupply from the major shrimp-producing countries and more stringent test regimes imposed by the EU to detect antibiotic residues in frozen shrimp consignments. Also, we had to face competition from countries like Ecuador and Argentina,” said MPEDA Chairman A. Jayathilak.

Export of frozen fish stood at 2,79,642 MT as against 250,465 MT a year ago, showing a growth of 11.65 per cent in quantity and 3.93 per cent in terms of dollar.

Indian ports handled a total marine cargo of 10,85,378 tonnes worth Rs 35,916.60 crore (USD 5,641.28 million) as compared to 9,54,744 tonnes worth Rs 32,620 crore (USD 4,980 million) in the corresponding period of the previous fiscal. (IANS)