The Hindu Business Line : Seafood Q1 exports dip

SEAFOOD exports in the April-June period of this fiscal has fallen by over 5 per cent to $277.68 million, hit by lower fish catch and concerns of anti-dumping proceedings in the US.

Latest data by the Marine Products Export Development Authority (MPEDA) shows that exports of frozen shrimp, squid, cuttlefish and other seafood products stood at 77,401 tonnes in the first quarter over 79,985 tonnes in the same period last year. The drop in rupee terms was 10.44 per cent at Rs 1,239.22 crore, down from Rs 1,383.71 crore a year ago, the MPEDA data said.

Earnings from frozen shrimp, the biggest export item in terms of value, fell to $ 190 million from $ 196.48, while that of frozen fish, cuttlefish and squid also declined.

Sources at the MPEDA and seafood export industry said lower catch of fish in the quarter was a major cause for the drop in exports. The uncertainty prevailed at that time over the anti-dumping duty to be imposed by the US was another reason why the exports suffered.

The US imposed a 14.2 per cent duty on shrimp from India in July after a preliminary determination in the anti-dumping investigation by the Department of Commerce.

The industry is optimistic that exports will pick up in the coming quarter on abundant fish catch experienced since September. Export orders have swelled.

According to the MPEDA data, exports to the US in the quarter was worth $66.12 million, down 12 per cent from $74.92 million in the same period a year ago and accounted for 24 per cent of total exports in value terms.

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