April 26, 2011
 

Indian seafood exports surge drastically

 

 

India's seafood export earnings for 2010-11 attained a peak of US$2.67 billion in spite of the after-effects from the global recession.

 

The growth is mainly attributed to a 104% increase in exports to the US, informed the Marine Products Export Development Authority (MPEDA) in its provisional estimates.

 

For April-March 2010-11, marine product exports exceeded US$2.67 billion, up 10.96% in quantity, 20.42% in Indian dollar and 25.55% in US dollar on year. India shipped out 752,791 tonnes worth INR12.1 billion (US$2.67 billion) versus 678,436 tonnes valued at INR10.048 billion (US$2.2 billion) in 2009-10; exports that year hit US$2.13 billion.

 

"There is a considerable increase in export of frozen shrimp and frozen squid during the period. Large-scale production of vannamei, higher productivity of black tiger shrimp and increased landings of squid might be attributed for the increase," said MPEDA.

 

"It may be noted that the achievement is made in spite of the after effects of recession in the international market, the Rupee becoming stronger, with respect to the Euro and the dollar and the collapse of economies in Greece, Spain and Portugal," the group added.

 

The EU has been India's largest seafood importer for the last five years.

 

The provisional figures show that frozen shrimp remains a key export item and made up 46% of total US dollar earnings. Shrimp exports jumped by 13%, 35% and 41% in quantity, rupee value and US dollar value, respectively, reported the media.

 

Shrimp exports to the US soared by 83% in volume and 140% in US dollar terms. Sales to Japan also mounted by 17% in volume and 43% in US dollar terms.

 

India shipped out 10,000 tonnes of vannamei shrimp that year as well.
 

Fish sales accounted for 39% in quantity and 20% in US dollar earnings versus the previous year's 12% in quantity and 26% in US dollar realisation.

 

Frozen squid shipments rocketed by 49% in quantity and 74% in US dollar terms and cuttlefish fell by 12% in quantity but rose by 16% in US dollar realisation.

 

The US regained its position as the second-biggest importer at 16%, followed by Southeast Asia 16%, China 15%, Japan 14%, the Middle East 5% and other countries 8%. Exports to the US jumped by a whopping 104% in value and 47% in volume, partly due to heftier shrimp and squid sales.

 

Exports to Japan escalated by 11% in quantity and 36% in US dollar terms.