Healthy growth for India’s seafood exports

Registering considerable growth, India’s seafood exports stood at 2,51,735 tonnes valued at Rs 9,066 crore in the first quarter of the current fiscal, according to MPEDA statistics.

Published: 22nd October 2017 11:54 AM  |   Last Updated: 22nd October 2017 11:54 AM   |  A+A-

Image used for representational purpose only. (EPS | K Shijith)

KOCHI:  Registering considerable growth, India’s seafood exports stood at 2,51,735 tonnes valued at Rs 9,066 crore in the first quarter of the current fiscal, according to the statistics released by the Marine Products Export  Development Authority (MPEDA). The sector registered growth both in terms of the quantity exported and the foreign exchange earned. The exports during the same period last year were 2,01,223 tonne worth $1.17 billion.

USA and South East Asia retained their position as the major importers of India’s seafood, followed by the European Union (EU) and Japan, while the demand from China saw a healthy surge during the period.

Frozen shrimp continued to be the top export item of marine products basket, accounting for a share of 50.66 per cent in quantity and 74.90 per cent of the total earnings in dollar terms. Shrimp exports increased by 20.87 per cent in terms of quantity and 21.64 per cent in dollar terms.

USA imported 54,344 tonnes of Indian seafood worth $499.28 million, accounting for a share of 35.05 per cent in dollar terms, while export to that country registered a growth of 39.56 per cent. South East Asia continued to be the second largest destination of India’s marine products, with a share of 31.26 per cent in dollar terms, followed by the EU (14.70 per cent), Japan (6.68 per cent), West Asia (3.47 per cent) and China (3.06 per cent). Overall, exports to South East Asia increased by 50.37 per cent in quantity.

“Healthy harvests of shrimp, reduction in the rejection rate by the EU countries, sustained measures to ensure quality and improved infrastructure facilities for production of value-added products are chiefly responsible for India’s surge seafood exports,” said MPEDA chairman A Jayathilak. 

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