Amid continued uncertainties in the global seafood trade, India’s seafood exports registered a growth of 21.35% at 13,77,244 MT and earned $7.08 billion in the financial year 2017-18, as compared to shipment of 11,34,948 MT and earned $5.77 billion in the previous fiscal. With this, the country has set a new high in exports. The Marine Products Exports Development Authority (MPEDA) in its latest data has showed that frozen shrimp and frozen fish continued to be the flagship export items. Besides, in rupee terms, the exports of marine products were pegged at Rs 45,106.89 crore as against Rs 37,870.90 crore in FY17, notching a healthy growth of 19.11%.
According to the data, USA and South East Asia retained their positions as the major import markets of India’s seafood products, with a share of 32.76% and 31.59% in dollar terms, respectively. Followed by, EU (15.77%), Japan (6.29%), Middle East (4.10%) and China (3.21%). Frozen shrimp maintained its position as the key contributor to seafood export basket, accounting for 41.10% in quantity and 68.46% of the total dollar earnings. Shrimp exports during the year rose by 30.26% in quantity and 30.10% in dollar terms.
The overall export of shrimp during 2017-18 was 5,65,980 MT worth $4,848.19 million, with USA continuing to be the largest market (2,25,946 MT) for frozen shrimp, followed by South East Asia (1,59,145 MT), EU (78,426 MT), Japan (33,828 MT), Middle East (23,441 MT) and China (13,107 MT). USA accounted for around 53% of total Vannamei shrimp exports in dollar value, registering an increase of 31.93% in quantity and 33.03% in dollar terms. Following the US is South East Asia with a share of (21.03%), EU (11.31%), Japan (4.67%), Middle East (3%) and China (1.35%).
Export of chilled items showed a decline of 38.71%, 15.90% and 12.27% in quantity, rupee value and dollar earnings, respectively. Dried items notched a growth of 45.73% and 19. 57% in quantity and rupee value, respectively but declined by 18.14% in dollar value. The export of live items rose 4.93% in quantity but declined by 29.14% and 25.63% in rupee value and dollar earnings, respectively. USA has imported seafood worth $2,320.05 million, registering a growth of 31.37%, 28.63% and 33.97% in quantity, rupee and dollar terms, respectively. Besides, Vietnam alone has imported 4,13,518 MT of Indian seafood.
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