H1 marine products export value up 20%

Marine products export from the country registered significant growth in rupee and foreign exchange earnings during the first half of the current fiscal. While the quantum of exports grew by 0.12 per cent to 3,12,904 tonnes, rupee earnings were up by 19.91 per cent to Rs 6,679.57 crore, while dollar earning spurted by 23.01 per cent to $1.49 billion.

Shrimp exports continued be the most significant component in marine products exports.. Frozen fish export was another segment that showed considerable growth. Value realisation from squid and cuttlefish exports was up, while the quantum declined.

Increased production of vannamei species was the main reason for the spurt in shrimp exports. India has consolidated its position as a major supplier of frozen shrimp to Japanese market during this period. . While there was a shortage in supply from other major producers such as Thailand and Vietnam, it was noticed that the buyers and customers reposed greater confidence in Indian shrimp.

Major export items

Frozen Shrimp continued to be the major export item accounting for 58.41 per cent of the total dollar earnings. Shrimp exports during the period increased by 19.34 per cent in quantity, 32.90 per cent in rupee value and 36.74 per cent in dollar realisation. There was a marked increase in unit value realization also, which grew 14.58 per cent.

Export of shrimp to the US registered over 50 per cent growth during the period, while exports to Japan also made significant headway. Export of vannamei Shrimp during the period also increased substantially by 495 per cent in quantity, 692 per cent in rupee earnings and 721 per cent foreign exchange realisations. Vannamei shrimp cultivation was recently introduced into the country and that is the prime reason for such rapid spurt, sources in the trade said.

Frozen fish accounted for 28 per cent in quantity and 11.87 per cent of the dollar earnings. Frozen fish exports increased by 5.95 per cent in quantity, 14.14 per cent in rupee earnings and 16.81 per cent of the dollar earnings.

While the export of frozen squid and cuttlefish exports decreased in quantity, there was a relative increase in value earnings. Frozen cuttlefish exports declined by 6.18 per cent in quantity while rupee realisation increased by 15.25 per cent and dollar earnings were up by 18.49 per cent. Unit value realization of cuttlefish was up by 26.30 per ent.

Frozen squid exports showed a decline by 2.36 per cent in quantity, while rupee realisation was up 28.20 per cent dollar and dollar earnings were up 31.37 per cent. Unit value realisation also moved up significantly by 34.54 per cent.

Major markets

The European Union continued to be the largest market with a share of 23.82 per cent followed by the US, South-East Asia, Japan, China and West Asia. What was noteworthy was the fact that the US has regained the second slot among export destinations. South-East Asia usurping the third place was also significant, mainly at the cost of Japan.

Increased export of frozen shrimp, especially vannamei contributed to the accelerated exports to the US, which grew by 41 per cent in quantity and 55 per cent dollar realisations. Export to Japan also registered a positive growth. South-East Asian countries had also registered a significant growth of 21.67 per cent in quantity and 84.21 per cent in dollar realizations.

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