October 7, 2011

India's seafood exporters set sights on Chinese market

India's seafood exporters are setting sights on China following lesser purchases from Europe and the US.

Already, China is the top buyer and with the ongoing economic distress in the US and Europe, China could further raise its share in the Indian seafood market.

"China is quite active in the market. They are reducing cost by going for direct purchase, avoiding middlemen. By the end of the current fiscal, their share in Indian seafood by value could rise beyond the current 15%," said N Ramesh, director of marketing, Marine Products Export Development Authority.
 

Though the EU accounts for a major share of 27% in value terms, its offtake is showing signs of a gradual decline.