India’s Seafood Exports Likely To Touch $ 4.7 Billion By 2013-14: ASSOCHAM .

India’s seafood exports are likely to touch $4.7 billion by 2013-14 from $2.84 billion in 2010-11 provided key thrust areas like value-addition, expansion of aquaculture, technological upgrade and tapping unexplored resources get a boost, ASSOCHAM (Associated Chambers of Commerce and Industry of India) said on Friday.

In a study titled Seafoods Market in India by 2014, it said seafood exports totalled $1.9 billion in 2008-09 and moved up to $2.84 billion in 2010-11. They have the potential to accelerate faster in view of growing demand from the European Union, the United States, China, Southeast Asia and Japan.

The exports of marine products from India set an all-time record of 8.07 lakh tonnes in 2010-11, marking an increase of 18.96 per cent in quantity terms, 27.64 per cent in rupee terms and 33.17 per cent in dollar terms over previous year.

In terms of export earnings, frozen squid continued to be the largest export item (60.11 per cent in value terms) followed by frozen shrimp (36.21 per cent), frozen fish (28.03 per cent) and fresh cuttle fish (18.45 per cent).

Large-scale production of Vannamei in addition to high productivity of black tiger shrimp and increased landing of squid attributed for the increase, said ASSOCHAM.

The paper suggests that the strength of current fleet of fish catching vessels in India is less than 70,000 in numbers. The capacity of each is less than two tonnes which needs to be expanded to nine tonnes for increasing fish acreage with the latest remote sensing equipment.

ASSOCHAM also suggested that the Marine Products Export Development Authority (MPEDA) needs to be financially strengthened through central allocations so that sea exporters get adequate fiscal assistance.

The European Union accounts for 20.94 per cent of India’s marine product exports in quantity, 26.69 per cent in value and 26.66 per cent in dollar realisations. The United States recorded a share of 6.17 per cent in quantity, 15.47 per cent in value and 15.4 per cent dollar realisations.

The share of Southeast Asia in Indian marine product exports was 28.7 per cent in quantity, 16.38 per cent in value and 16.42 per cent in dollar realisations. Export to China showed a growth of 19.65 per cent in quantity, 15.37 per cent in value and 15.45 per cent in dollar realisations.

States like Andhra Pradesh, Tamil Nadu, Kerala, Maharashtra, West Bengal, Gujarat and Orissa have huge potential, which needs to be harnessed in a manner that can enhance India’s export potential further, said the body.

Source : fnbnews.com