Agri Business

Against odds, India's marine exports surge 19%

| | Updated on: Feb 23, 2011
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For the first time, Indian marine exports have crossed the $2-billion mark during first nine months of a fiscal. Marine exports touched $2.028 billion during April-December 2010, registering a growth of 6.60 per cent in quantity, 18.92 per cent in value and 24.70 per cent in dollar realisations.

What is noteworthy is the fact that the feat could be achieved in spite of recession in global markets, a strengthening Indian rupee against major currencies and economic tremors in Greece, Spain and Portugal which triggered all-round depreciation of the euro against the dollar, the Marine Products Export Development Authority (MPEDA) pointed out.

Major export items

There was considerable increase in export of frozen shrimp and squid during the period. The trigger for this growth came from increased export of Vannamei shrimp, whose introduction and cultivation in India's coastline was a recent phenomenon as well as increased landing of squid from Indian waters. Frozen shrimp continued to be the major export item accounting for over 48 per cent of the foreign exchange earnings.

Shrimp exports increased by 12 per cent in quantity, 34 per cent in value and 40 per cent in dollar earnings. Unit value realisation for shrimp surged over 25 per cent during the period. Frozen shrimp export also showed a smart increase to major destinations such as the US and Japan. Export of Vannamei shrimp grew to 7,363 tonnes during the period.

Frozen fish was the principal item of export in quantity and second largest export item in terms of value: accounting for 36 per cent of the total quantum of export and 18 per cent of the value realisation. Export of frozen squid accelerated by close to 88 per cent in terms of dollar earnings, 78 per cent in rupee realisation and 60 per cent in quantity.

Despite rapid growth in unit value realisation of frozen cuttlefish by 30 per cent, the volume of exports declined by 21 per cent and rupee realisation fell by 2 per cent.

The spurt in unit value realisation ensured that dollar earnings from cuttlefish grew by over 2 per cent.

The EU continued to be the largest export market for Indian marine products, accounting for over 26 per cent of the value realisations. This was despite a fall of close to 5 per cent in quantity.

The US was the second largest export destination accounting for 17 per cent of the total exports followed by Japan with 15.12 per cent. Exports to South-East Asia and China are fast catching up accounting for 15.07 per cent and 14.09 per cent respectively.

Published on February 23, 2011

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