Indian seafood export value rises slightly

 

 

The value realised from Indian seafood exports has risen 7 percent despite a fall in the volume during the first six month of the fiscal.

 

What is significant has been the strident growth in volume and value of exports to emerging market destinations such as China, South-East Asia and West Asia. This development occurs as exports to India's traditional big markets such as the US, Japan and the EU fell in volume and value.

 

While India's seafood exports have fallen by 0.63 percent to 2,47,578 tonnes, the rupee earnings have grown by 7.02 percent to Rs4,151.84 crore. With the dollar plunging in value against most global currencies and against the rupee in the recent past, dollar earnings have also fallen by 7.63 percent to US$857 million.

 

Shrimp, which has high unit value in the export market, did not register a fall this year and this has also helped to propel increased rupee earnings. However this was on a small base.

 

The continuing slow growth in the Japanese economy and the anti-dumping duty on shrimp exports to the US resulted in declining volume and value of Indian exports.

 

However, the recent reduction in the US anti-dumping duties imposed on Indian shrimp helped in the recovery, while the volume of exports to the US has dipped, the value realisation in Indian currency has remained positive. Japan and EU registered a dip both in volume and value.

 

Starting from a far lower base, export realisation has grown 35 percent from China and by 38 percent from South-East Asian countries. For countries in West Asia, the realisation grew by 19 percent.

 

Overall, the rupee earnings continued to be good during the first six months of the fiscal.

 

The increasing rejections by the EU, the slowdown of the Japanese economy and the lower catch landing on India's coastline have reduced export volumes.

 

US$1 = Rs46.23 (Nov 17)