May 12, 2008

Indian seafood exports drop by 10 percent

India's seafood export for 2007-08 dipped by 10 percent from last year due to competition from cheaper vannamei shrimps in the global market, lesser availability of cuttle fish and the stronger Indian rupee.

The state-run Marine Products Export Development Authority (MPEDA) said India exported 5,29,357 tonne of seafood valued at INR74 billion (US$1.79 billion) during fiscal 2007-08, compared to 6,12,641 tonnes exported in 2006-07, valued at INR83 billion (US$2 billion).

India's total seafood exports fell by 10 percent in terms of value and 13 percent in terms of volume, the authority said.

The deflated exports were blamed on three factors such as the increased competition from cheaper vannamei shrimps, lesser availability of cuttle fish and appreciating Indian rupee, Anwar Hashim, national president of Seafood Exporters Association of India (SEAI), explained.

Indian seafood exports bound to the US and Japan saw major losses. However, exports to the EU were promising, the sources said.

China's cheaper farmed shrimp is eating into the exports of black tiger shrimps, sources said.

India must quickly switch on to the cheaper vannamei species to survive, as it is equally tasty and attractive, Hashim pointed out.