| Date: |
11-08-2011 |
| Subject: |
Seafood Export Rises On Global Shortage |
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Kochi: Global shortage of marine products is helping the Indian seafood sector grow in spite of a slowdown in the developed markets, Marine Products Export Development Authority (MPEDA) officials said.
“Export earnings from seafood may touch $4 billion during 2011-12 on the back of increased exports of Vannamei and higher demand from South East Asia,” said Leena Nair, MPEDA chairman . Export realizations have achieved a major milestone in spite of several negative factors including recession and the weakening of Euro due to political unrest in some countries, she added.
“The problems in the global market have so far not affected the Indian exports due to the question of product availability in most of the markets,” she said. “Increased production of Vannamei shrimp, increase in infrastructure for production of value added items and the regaining pace of Japanese market after tsunami would help India achieve the target,” she added.
During 2010-2011, for the first time, marine products exports, crossed $ 2.8 billion. Exports aggregated to 8,13,091 tonne valued at $ 2,856.92 million.Compared to the previous year, sea food exports recorded a growth of 19.85% in volume.
Indian exports to Egypt and African countries are seen increasing, while exports to South East Asian countries are helping in faster growth. Aquaculture shrimp exports are also back on track. In a reversal of trend, US is back as the prominent consumer of Indian shrimps and has helped in recording growth even as some markets like European Union are showing a slowdown.
Increased production of Vannamei shrimp, black tiger shrimp and better price realization of major items like cuttle fish, shrimp and squid helped India gain the high export turn over. Frozen shrimp continued to be the major export value item accounting for 44.17 % of the total US dollar earnings. Shrimp exports in the period increased by 16.02 %, 36.72 % and 42.90 % in quantity, rupee value and US dollar value, respectively.
Source : financialexpress.com
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