December 16, 2011

 

Indian seafood exports post 23% increase

 

 

India's seafood products have increased by 23% during the April to September period of the current fiscal to US$1.49 billion compared to the same period last year.

 

In terms of volume, exports reached 312,904 tonnes during the first six months of the current fiscal year.

 

"There is a considerable increase in export of frozen shrimp. Increased production of vannamei shrimp is mainly attributed for this increase," an official statement explained.

 

Exports of vannamei during the period took a staggering jump of 495%, 692% and 721% in quantity, rupee value and USD value, respectively, on-year, IBNS reports.

 

"Frozen fish exports also showed an increase," it added.

 

The statement noted that India exported frozen shrimp mainly to Japan during the period.

 

"Our shrimp exports to US market also showed an increasing trend despite its decision to continue with the anti-dumping duty imposed on frozen shrimp imports from India," the statement commented. "Though there was a shortage in supply from other major producers like Thailand and Vietnam, it is noticed that buyers and customers seem to have confidence in Indian shrimp supply," the statement added.

 

Exports of frozen shrimp to the US grew by 47.19% in volume, 53.55% in rupee value and 58.74% in USD terms. Exports of this product to Japan jumped by 2.5%, 7.73% and 10.30% in volume, rupee value and USD value, respectively.

 

Frozen shrimp exports make up about 60% of India's total marine product consignments. Fish is the second-main export item in value terms and accounted for about 28% of seafood exports.

 

In contrast, dry marine product exports fell by 52% in quantity, according to the official statement.

 

Frozen squid and cuttlefish exports fell in quantity but rose in value earnings.

 

Sales to South East Asia and China are anticipated to pick up during the second half of the current financial year ahead of the Chinese New Year that falls on January 23 2012.