India 2008-09 seafood export volume, value seen to increase 8 percent

India's seafood exports during the last fiscal (2008-09) may surpass the performance of previous period by at least 8-10 percent in both volume and value due to good response from non-traditional markets like China, Middle East and South East Asia.

Trade sources also revealed that the dollar is also likely to move up.

According to estimates of the Marine Products Export Development Authority (Mpeda), India exported 539,299 tonne of seafood during the first eleven months of 2008-09 valued at Rs 7,730.16 crore as against 4,91,430 tonne valued at Rs 6,945.35 crore during the same period of 2007-08.

The effort is seen higher by 9.7 percent in volume and 11.3 percent in value. Dollar realisation of US$1,728.86 million for the period is more or less the same for the last comparable period. India exported 529,357 tonne of seafood valued at Rs 7,476.37 crore during fiscal 2007-08, as against 6,12,641 tonne valued at Rs 8,363.53 crore for 2006-07.

The rupee's weakening has helped exporters gain market shares at the cost of dollar realisation. Despite volume losses in traditional markets of US, Japan and the European Union, increased demand from non-traditional sources have helped exports, sources said.

According to figures provided by MPEDA, US in 2006-07 accounted for 7 percent of the volume share and 16 percent of the value share of total exports, while European Union accounts for 24 percent share in volume and 33 percent share in value of the total exports.

Exports to the US market have fallen by 4 percent in volume and 1percent in value during the eleven months of 2008-09. Dollar revenue has dropped by 13 percent. Volume of exports to Japan is seen lesser by 6 percent.