India’s marine product exports crossed the $3.5-billion mark in 2011-12, surpassing previous records in quantity, rupee value and dollar terms.
Exports aggregated to 8,62,021 tonnes valued at Rs 16,597.23 crore ($3,508.45 million).
Compared with the previous year, seafood exports recorded a growth of 6.02 per cent in quantity and 28.65 per cent in rupee and 22.81 per cent in dollar terms.
Leena Nair, Chairman, Marine Products Export Development Authority (MPEDA), said that the figures must be viewed in the light of the continuing recession in the international markets, debt crisis in the European Union, continuing anti-dumping duty in the US, sluggish growth in the US economy, and the political instability in West Asia.
Higher production of Vannamei shrimp, increased productivity of Black tiger shrimp and better realisation of major items such as shrimp, squid and cuttlefish helped MPEDA gain such an export turnover, she told reporters here on Friday.
MPEDA has set an ambitious target of $4.5 billion for 2012-13.
Increased production of L.vannamei shrimp and increase in infrastructure facilities for production of value-added items are factors that will help to achieve this target, she said.
Exports of Vannamei shrimp to the US market surged by 212 per cent in quantity and 209 per cent in dollar.
However, exports to China declined by 46.89 per cent in quantity and 40.17 per cent in dollar.
Frozen shrimp continued to be the major export value item accounting for 49.63 per cent of the total dollar earnings. Shrimp exports increased by 24.86 per cent, 42.97 per cent and 37.99 per cent in quantity and rupee and dollar value respectively.