Country’s marine export fell by 4.5% to $146 million in May

05 Jul 2011 Evaluate

India’s seafood export fell by 4.5% to $146 million in the month of May. This moderation in export has come due to less demand from its major markets such as European Union and Japan, both the nation accounts for almost 46% of India’s Marine exports. During May 2010, the seafood exports stood at $153 million, according to the data released by the Marine Products Export Development Authority (MPEDA).

Due to fragile economic conditions demand, from European economy is not growing, an MPEDA official said, European economy is still fragile and demand is yet to pick up, further adding he said. Besides, exporters are getting less number of orders from Japanese market due to the occurrence of earthquake and tsunami.

Of the India’s total marine exports, European nations have the largest share of 26% followed by Japan 20% and United States 17%. During the April and May of 2011-12, marine exports dropped 4.3% to $316 million compared to the same period of last financial year.

During last financial year, India’s export of marine products grew by a remarkable 25.5% to $2.6 billion in 2010-11 compared to the last fiscal. Country’s seafood exports comprise black tiger shrimp, fresh water prawn shrimp, frozen versatile fish, frozen skip jack and frozen squid and the shipments are mostly from coastal states like Maharashtra, Kerala, Tamil Nadu and West Bengal.

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