Agri Business

Seafood exports top $7-bn mark, frozen shrimp accounts for 69% of dollar earnings

V.Sajeev Kumar Kochi | Updated on July 02, 2018

India's seafood exports have crossed the $7-billion mark for the first time in FY18, with frozen shrimp and fish continuing to be the flagship export items. The total seafood shipment during the period was 13,77,244 tonnes as compared to 11,34,948 tonnes in the previous fiscal.

In rupee terms, exports were pegged at Rs 45,106.89 crore as against Rs 37,870.90 crore in FY 17, notching a healthy growth of 21.35 per cent. The US and South-East Asia retained their positions as the major import markets, followed by the EU, Japan, West Asia and China.

“In the face of continued uncertainties in the global seafood trade, India has been able to retain its position as a leading supplier of frozen shrimp and frozen fish in international markets. With a string of initiatives and policy support, we intend to achieve an export target of $10 billion by 2022,” said MPEDA Chairman A. Jayathilak.

Despite the daunting challenges of oversupply as reflected in double-digit shrimp exports by Ecuador and Argentina in 2017, increased supply from Vietnam and Thailand, a drop in global shrimp prices, and issues related to antibiotic residues, India’s seafood industry has been maintaining its growth streak, he added.

Frozen shrimp maintained its position as the key contributor to the seafood export basket, accounting for 41 per cent in quantity and 68.46 per cent of the total dollar earnings. Shrimp exports during the year rose by 30.26 per cent in quantity and 30.10 per cent in dollar terms.

The overall export of shrimp was 5,65,980 tonnes worth $4,848.19 million, with the US continuing to be the largest market for frozen shrimp, followed by South-East Asia, the EU, Japan, West Asia and China.

The export of Vannamei shrimp grew from 3,29,766 tonnes to 4,02,374 tonnes in FY18.. The US accounted for around 53 per cent of the total Vannamei shrimp exports. Japan, the major market for Black Tiger shrimp, accounted for 43.18 per cent in dollar value, followed by the US and South-East Asia.

Published on July 02, 2018

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