Indian 2008-09 seafood exports surpass previous year

India's seafood exports during 2008-09 surpassed the performance of the previous year, thanks to increased exports to China and West Asia.

 

Marine Products Export Development Authority (MPEDA) chairperson Leena Nair said India exported 6,02,000 tonnes of seafood products valued at Rs8,607.94 crore during 2008-09, showing an increase of 11.29 percent in volume and 12.95 percent in value.

 

Exports to the South East Asia and West Asia compensated the losses suffered in the US and the EU markets. This feat was aided by the dramatic increase in catch in the west coast of the country, according to media reports.

 

During the previous fiscal, 5,41,000 tonnes of marine products valued at Rs7,620.92 crore were exported. The exports in dollar terms stood at US$1,908.63 million, a marginal growth of 0.50 percent, compared to the previous year at US$1,899.09 million.

 

EU continues to be the largest market for Indian seafood accounting for 1,51,590 tonnes (25 percent in volume) valued at Rs2,800 crore.

 

However, the share of the EU has fallen from 35 percent to 32.6 percent during the last fiscal. Japanese imports are seen lower at 14.3 percent from 16 percent of 2007-08.

 

Exports to the US has shown a slight increase in volume and value even though in volume terms the share has dipped relegating it to the fourth position.

 

Exports to China are seen increasing and now accounts for 15 percent in dollar terms, followed by the US at 12 percent. China climbed to the second place from the third position it held last year, relegating Japan to the third place.

 

Frozen shrimp continued to be the major item in the export basket accounting for 44 percent of the total export earnings. But the share of frozen shrimp is seen decreasing in volume and value terms.

 

US$1 = Rs48.709 (July 10)