India Seafood Exports Reach $5 billion in 2013-14

4 June 2014, at 1:00am

INDIA - Indias seafood exports turnover have crossed $5 billion during the 2013-14 fiscal year, according to Marine Products Export Development Authority (MPEDA).

Compared to the previous year, seafood exports recorded a growth of 5.98 per cent in quantity and 42.6 per cent growth in US$ earnings, the statement adds.

In quantity terms, export aggregated to 983,756 tonnes.

The unit value realization also reached to record high to $5.09 kilogram during 2013-14 to $3.78 per kilogram during 2012-13, registering a 34.55 per cent growth.

MPEDA attributed higher exports growth to increased production of L. Vannamei shrimp during the period.

During 2013-14, frozen shrimp continued to be the major export value item accounting for a share of 64.12 per cent of the total US$ earnings.

Shrimp exports during the period increased by 31.85 per cent, 99.54 per cent and 78.06 per cent in quantity, rupee value and US$ value respectively. There was all time high growth in unit value realization of frozen shrimp at 35.05 per cent.

The overall export of shrimp during 2013-14 was to the tune of 301,435 tonnes worth $ 3.21 billion.

US is the largest market with 95,927 tonnes for frozen shrimps exports in quantity terms followed by European Union with 73,487 tonnes , South East Asia with 52,533 tonnes and Japan with 28,719 tonnes, the statement adds.

The contribution of cultured shrimp to the total shrimp export is 73.31 per cent in terms of US$. The export of cultured shrimp has shown tremendous growth of 36.71 per cent in quantity and 92.29 per cent in dollar terms.

The export of Vannamei has shown tremendous growth to 175,071 tonnes from 91,171 tonnes and $1.94 billion from $ 731.01 million compared to 2012-13.

The export of Vannamei recorded a growth of 92.03 per cent in quantity and 172.81 per cent in dollar terms. 44.59 per cent of total Vannamei shrimp was exported to US followed by 17.07 per cent to EU, 16.54 per cent to South East Asian countries and 4.01 per cent to Japan in terms US$.

However, export of black tiger shrimp posted a negative growth to $435.79 million from $521.33 million and 34,133 tonnes, as compared to 61,177 tonnes during 2012-13.

Fish, has retained its position as the principal export item in quantity terms and the second largest export item in value terms, accounting for a share of about 32.97 per cent in quantity and 14.15 per cent in US$ earnings.

South East Asia continued to be the largest buyer of Indian marine products with a share of 26.38 per cent in terms of US $ value realization.

Exports to US registered a tremendous growth of 19.94 per cent in quantity and 72.06 per cent in US$ realization and is mainly attributed to the export of Fr. Shrimp which showed a growth of about 34.81 per cent in volume and 92.40 per cent in US$ terms.

Exports of Vannamei shrimp showed a tremendous increase in US market by 59.63 per cent in quantity and 135.71 per cent in US$ realization.

Export to Japan registered increase in terms of US$ by 10.30 per cent. Export of frozen shrimp increased by 7.38 per cent in quantity terms and 28.23 per cent in dollar terms.

Export to Middle East countries has shown good growth of 40.13 per cent, 43.65 per cent and 30.29 per cent in terms of quantity, value and dollar terms respectively.

In its 2014-15 outlook, MPEDA set a target of $6.0 billion. Increased production of L. Vannamei shrimp, quality control measures and increase in infrastructure facilities for production of value added items are expected to help in achieving this target.