Marine exports cross $2-b mark .

Kochi, May 18 Despite global recession and a stronger rupee, marine exports crossed the $2-billion mark for the first time in the 2009-2010 fiscal, Ms Leena Nair, Chairperson of the Marine Products Export Development Authority (MPEDA) said. Indian seafood export volumes grew 10 per cent to 6,63,603 tonnes while realisation grew 15 per cent to Rs 9,921.46 crore during 2009-10. Foreign exchange earnings were up 10 per cent at $2.105 billion.

Addressing a press conference in Kochi, Ms Nair said the industry had been impacted by a host of factors beyond its control but for which the realisations would have gone up Rs 200 crore and $50 million during last year. Shrimp continued to dominate Indian seafood exports accounting for 42 per cent of dollar realisations. The strengthening of the rupee continued to daunt Indian exporters. As a result, the unit value realisation from shrimp export increased a meagre 1.53 per cent.

Frozen fish repositioned itself as the principal item in terms of quantity and second largest in value. Dominating the volumes, it accounted for 38 per cent of the total quantum of marine exports realising 20 per cent of the total foreign exchange earnings.

Although cuttlefish exports continued to grow in volume and value, the foreign exchange earnings were hampered and there was seven per cent decline in unit value realisation. While export of squid registered a nominal growth in volume, the realisation in rupee and foreign currency registered a fall.

While several countries in the EU continued to reel under the after-effects of the global recession, the region continued to be the largest market accounting for 30 per cent of the foreign exchange realisation.

Accelerating exports to China made it the second largest buyer, accounting for 18 per cent of value realisations.

Although a late entrant into the big league, rapid export of frozen fish made the South-East Asian countries the third biggest buyer, accounting for 15 per cent of Indian seafood exports in value. Japan accounted for 13 per cent and the US 10 per cent.

Mr Anwar Hashim, President of the Seafood Exporters Association of India, said it was high time that Indian industry elevated from a predominantly frozen fish exporter to value added exports to the South East and West Asian countries.

Source : Business Line