January 4, 2012

Due to an increased trade in shrimps, India's seafood exports during the current fiscal year are seen to reach US$4 billion.

Indian production of vanammei shrimps, also known as white shrimps, is likely to touch 30,000 tonnes in the current year, officials of Seafood Exporters Association of India (SEAI) said.

India started farming vannamei shrimps in 2010 following stiff competition from countries like Thailand and China in the global market. India produces mainly black tiger shrimp and processing facilities are running at 30% of their capacity. Export rivals in Asia, such as Thailand, Vietnam and Indonesia, have already introduced this variety, which lead to a jump in their production. Black tiger shrimps have higher production costs and lower yields than vannamei. According to SEAI sources, the cost of production of vannamei is US$2.29 per kilogramme – which is just half the cost of producing other Indian shrimp species. "Shrimp exports are better this year. But for some bad crop due to the usage of bad seedlings, vannamei crop should have been better. Our last crop was not to the expectation," Anwar Hashim of SEAI said.

According to the data provided by Marine Exports Product Development Authority (MPEDA), export of vannamei shrimp during the April-September period increased tremendously by 495% in volume, 692% in rupee value and 721% in dollar realisation, against same period last year. "Though there was shortage in supply from other major producers like Thailand and Vietnam, it is noticed that the buyers and customers seem to have confidence in Indian shrimp supply," MPEDA sources said. Export of frozen shrimp to the US registered a growth of 47.19% in volume, 53.55% in rupee value and 58.74% in dollar terms during the first half of fiscal year 2012.

Frozen shrimp export to Japan also showed an increase of 2.5%, 7.73% and 10.30% in volume, rupee value and dollar value respectively. As per the provisional figures provided by the MPEDA, the export of marine products from India during April-September 2011 was 312,904 tonnes in quantity, worth INR6,679.57 crore , which is equivalent to US$1,496.34 million. During the last financial year India exported 813,091 tonnes of marine products, of an aggregate value of INR12,901.47 crore (US$2,856.92 million). Frozen shrimp accounted for over 44% of the total quantity exported during fiscal year 2011.

India is the second largest fish producer in the world after China and accounts for nearly 6% of global fish production. Growing at a compound annual growth rate (CAGR) of about 7%, India's marine and fish industry is likely to reach INR67,800 crore  (US$12.7 billion) by 2015 from the current level of nearly INR53,000 crore (US$10 billion), apex industry body Assocham reports.