STOCK MARKET BSE NSE

Indian seafood exports rise by over 13 per cent

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.

Published: 03rd May 2018 07:25 PM  |   Last Updated: 03rd May 2018 07:25 PM   |  A+A-

Fish being sorted inside the fishing harbour in Munambam  A Sanesh

By IANS

KOCHI: 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.

Pipavav, which handled marine 2,47,873 tonnes of cargo worth Rs 4031.24 crore, was the leading port in terms of quantity, while Vizag port's handling of 1,69,602 tonnes earned Rs 9,755.42 crore -- the maximum for a port in value terms.


TAGS
seafood

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp