The exports of seafood in first five months (till August) of the current fiscal year rose by 7% from a year ago to touch 333,832 tonnes, as per data compiled by Marine Products Export Development Authority (MPEDA). In value terms, the year-on-year increase was 17% to Rs 13,426 crore.
The authority expects seafood exports to touch the targeted $5.6 billion in the current year. The marine exports dipped 9% in 2015-16 from the previous year to Rs 30,421 crore as the unit value realization of frozen shrimp, which constitutes over 70% of total exports, fell by $2 to $8.28 per kg.
As per MPEDA data, production of aquaculture shrimp, which is driving exports, touched an all time high of 550,000 tonnes in 2015-16.