Robust demand for frozen shrimp and frozen fish helped Indian seafood exports touch 11,34,948 tonnes worth $5.78 billion (₹37, 870.90 crore) during 2016-17. This compares well with the previous financial year when seafood exports stood at 9,45,892 tonnes worth $4.69 billion.
According to a press release from the Marine Products Export Development Authority, the U.S. and South East Asia continue to be the major importers, while the demand in European Union countries grew substantially during last year.
Frozen shrimp is the top item of export, accounting for 38.28% in quantity and 64.50% in earnings in dollar terms. Shrimp exports increased 16.21% in quantity and 20.33% in dollar terms.
Frozen fish exports grew 26.92% in value terms during the year. It is the second largest export item, accounting for 26.15% in quantity and 11.64% in dollar earnings. The U.S. accounted for nearly 30% of the imports in dollar terms.
South East Asia, with a share of 29.91% in dollar terms, remained the second largest destination for India’s seafood products. It was followed by the EU (17.98%), Japan (6.83%), the Middle East (4.78%), China (3.50%) and other countries (7.03%). Overall, exports to South East Asia increased by 47.41% in quantity, 52.84% in rupee value and 49.90% in dollar earnings.
The press release cited the Union Minister for Commerce Nirmala Sitharaman as saying that increased production of vannamei, diversification of aquaculture species, sustained measures to ensure quality and increase in infrastructure for production of value added products were largely responsible for India’s positive growth in exports of seafood.
Published - June 07, 2017 11:29 pm IST
