March 15, 2005

 

European Union (EU) proved to be the largest buyer of Indian seafood

 

 

In spite of the low demand for seafood from two of its major markets - US and Japan, India's exports during the period of April - December for the current fiscal year grew by 7 percent.

 

Seafood exports for the period of April to December 2004 registered 1.088 billion dollars compared to 1.01 billion dollars for the corresponding previous period.

 

The seafood exports based on volume was recorded an increase of 6.40 percent, which is 5.44 in terms of rupee.

 

Export to US fell to $266 million down from $275 million earlier.

 

Japan also recorded a fall to $204 million from $209 million.

 

Indian export went down marginally in China to ($112.79 million). 

 

India's seafood export in value terms was 24 percent for US while Japan accounted for 19 percent.

 

As per MPEDA, the EU overtook USA to become the largest importer of Indian seafood with a share of 26 percent in value terms.

 

With a yearly growth of 17 percent, the export to the EU stood at $284.40 million.

 

The export raised 23 percent for Southeast Asia ($106 million), 15 percent for West Asia ($35.41 million) and 40 percent for other countries ($79 million) during the nine-month period.

 

With the growth of 5.84 percent and a share of 65 percent in value terms, frozen shrimps claimed to be the largest exported item. Frozen squids and cuttlefish were another items in demand.

 

There was 47 percent drop in dried item export (as per the MPED).