August 12, 2010

Japanese demand augments Indian seafood exports

Significant shrimp imports by Japan has helped Indian seafood sector register a good growth during the first quarter of 2010-11.

After trailing during the first two months of 2010-11, exports were up by 5.6% in volume and 7.6% in rupee terms during the April-June 2010-11 period. Dollar realisation was higher by 19.5% for the period at US$451 million as against US$377.64 million during the first quarter of last fiscal.

Exports during FY10 aggregated 663,603 tonnes valued at INR9,921.46 crore (US$2.12 billion). Marine Exports Product Development Authority (MPEDA) hopes to achieve export target of US$2.5 billion during 2010-11 with 15% rise in volume.

During April-June 2010, volume of exports stood at 1,28,334 tonnes, valued at INR 1,988.62 crore (US$426 million) as against 1,21,519 tonnes valued at INR1,846.66 crore (US$395 million) of 2009, MPEDA sources said. Exports to Japan, which has very high quality standards has increased significantly during the period, MPEDA said.

Volume of exports was higher by 47%, while value has gone up by 30% for the period. Dollar realisation from Japanese trade has increased by 41% during the period. Japan mostly imports shrimps from India and this is reflected in the growth of shrimp exports which was going through a difficult phase after problems in US and EU markets.

Shrimp exports went up by 20% in dollar terms and 6% in rupee terms during the first three months of 2010-2011 fiscal. Squid exports were higher for the same period by 40% in volume terms and 50% in value terms. Traditionally, exports are lean during the months of June-August on account of trawling ban in coastal states during the monsoon.

Exports to EU which accounts for 30% of the total exports and constitute the single largest bloc has slowed down and stood at almost the same as the first quarter of the last FY. EU has recently tightened entry into the zone through various measures, which includes catch certificate and mandatory testing of 20% of all aquaculture products.