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Record High for India's Seafood Exports

Sustainability Economics +3 more

INDIA - India's marine products exports touched a record high of Rs.18,856 crore ($3,511.67 million) in 2012-13.

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Minister of State for Commerce D. Purandeswari informed parliament in a written reply Wednesday that the country's seafood exports in 2012-13 rose 7.68 per cent compared to the previous year with exports aggregating 928,215 tonnes. This was a 13.61 per cent growth in rupee and 0.1 per cent growth in US dollar terms, respectively, reports BusinessStandard.

According to the Marine Products Export Development Authority (MPEDA), higher production and export of shrimp and chilled items were responsible for exports reaching a new high.

Southeast Asia continued to be the largest buyer of Indian marine products with a share of around 23 per cent. The European Union is the second largest market, followed by the US, Japan, China and the Middle East.