Kochi: Seafood exports during the last fiscal (2008-09) is likely to surpass the performance of previous fiscal by at least 8-10% in both volume and value, thanks to good response from non-traditional markets like China, Middle East and South East Asia, trade sources said. Dollar realisation is also likely to match or marginally move up.
According to estimates of the Marine Products Export Development Authority (Mpeda), India exported 5,39,299 tonne of seafood during the first eleven months of 2008-09 valued at Rs 7,730.16 crore as against 4,91,430 tonne valued at Rs 6,945.35 crore during the same period of 2007-08.
The effort is seen higher by 9.7% in volume and 11.3% in value. Dollar realisation of $1,728.86 million for the period is more or less the same for the last comparable period. India exported 5,29,357 tonne of seafood valued at Rs 7,476.37 crore during fiscal 2007-08, as against 6,12,641 tonne valued at Rs 8,363.53 crore for 2006-07.
Weakening of the rupee has helped exporters gain market shares at the cost of dollar realisation. Despite volume losses in traditional markets of US, Japan and the European Union, increased demand from non-traditional sources have helped exports, sources said.
According to figures provided by MPEDA for 2006-07, US accounted for 7% of the volume share and 16% of the value share of total exports, while European Union accounts for 24% share in volume and 33% share in value of the total exports.
Exports to the US market have fallen by 4% in volume and 1% in value during the eleven months of 2008-09. Dollar revenue has dropped by 13%. Volume of exports to Japan is seen lesser by 6%.
Source : Financialexpress