July 18, 2011

 

Indian seafood exports to hit US$4.7 billion

 

 

India's seafood exports are likely to reach US$4.7 billion by 2013-14 from US$2.84 billion in 2010-11 as long as main areas such as value-addition, growth of aquaculture, technological improvement and looking into unexplored resources attain a boost, apex chamber ASSOCHAM said on Friday (Jul 15).

 

In a study titled Seafoods Market in India by 2014, it said seafood exports totalled US$1.9 billion in 2008-09 and moved up to US$2.84 billion in 2010-11. They have the potential to accelerate faster in view of growing demand from the EU, the US, China, Southeast Asia and Japan.

 

The exports of marine products from India set an all-time record of 8.07 lakh tonnes in 2010-11, marking an increase of 18.96% in quantity, 27.64% in rupee and 33.17% in dollar over previous year.

 

In terms of export earnings, frozen squid continued to be the largest export item (60.11% in value) followed by frozen shrimp (36.21%), frozen fish (28.03%) and fresh cuttle fish (18.45%).

 

Large-scale production of Vannamei in addition to high productivity of black tiger shrimp and increased landing of squid attributed for the increase, said The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

 

The paper suggests that the strength of current fleet of fish catching vessels in India is less than 70,000 in numbers. The capacity of each is less than two tonnes which needs to be expanded to nine tonnes for increasing fish acreage with the latest remote sensing equipment.

 

ASSOCHAM also suggested that the Marine Products Export Development Authority (MPEDA) needs to be financially strengthened through central allocations so that sea exporters get adequate fiscal assistance.

 

The EU accounts for 20.94% of India's marine product exports in quantity, 26.69% in value and 26.66% in dollar realisations. The US recorded a share of 6.17% in quantity, 15.47% in value and 15.4% dollar realisations.

 

The share of Southeast Asia to Indian marine product exports was 28.7% in quantity, 16.38% in value and 16.42% in dollar realisations. Export to China showed a growth of 19.65% in quantity, 15.37% in value and 15.45% in dollar realisations.

 

States like Andhra Pradesh, Tamil Nadu, Kerala, Maharashtra, West Bengal, Gujarat and Orissa have huge potential which needs to be harnessed in a manner that can enhance India's export potential further, said ASSOCHAM.