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Indias Seafood Exports to EU to Touch $1.6 Billion

Crustaceans Sustainability Economics +4 more

INDIA - Indias seafood exports to the European Union (EU) will touch $1.6 billion during the 2014-15 fiscal year, Leena Nair, chairperson of Marine Products Export Development Authority of India (MPEDA) said recently, writes Jagdish Kumar for TheFishSite.

Seafood export value have been increasing from $227 million, recorded during 2000-01, to $805 million posted during 2011-12 fiscal year.

Speaking in on the sidelines of the Seafood Expo Global, held in Brussels, Ms Nair said that a major chunk of exports come from five countries that include Spain which leads with $188 million worth of exports.

Seafood exports to the UK and Italy have been valued at $128 million each and exports to France have been recorded at $106 million.

As per the current estimates, India exports over 75,000 metric tonnes of shrimp to the EU and is the largest supplier of shrimp from non-European countries to the EU.

India is also one of the largest suppliers of squid and cuttlefish to Europe, especially to Spain and Italy.

India exported 44,000 tonnes of of cuttlefish and 30,000 tonnes of squid this year to the European Union and has 300 EU-approved processing plants and 46 EU-approved cold storage facilities.

From $1.9 billion in marine exports revenue in 2008-09, marine exports will triple to $5.7 billion during 2014-15 fiscal year.

The US has been the most favoured destination followed by South East Asia, EU, and the Middle East for marine exports.

India exports seafood to 101 countries. The majority of the exports are made up of frozen shrimp, frozen fish, cuttlefish, dried items and squid.

About 20 seafood companies from India have participated in the three day Brussels seafood fair. The fair saw participation of over 1,700 companies from over 75 countries including India.

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