Seafood Exports Rise on Firm US Demand.

A revival in the US consumption of seafood has helped the country's seafood export to rise in the first half of the current fiscal, even as trade with EU and China declined.

Until the US International Trade Commission imposed anti-dumping duty on shrimps from India, US was the largest consumer of Indian seafood.

Seafood exports to the US market has increased by 38% in volume, 76% in rupee value terms and 85% in dollar terms, according to figures provided by Marine Exports Product Development Authority (MPEDA). The total exports in April-September stood at 2,74,663 tonne valued at Rs 5,065.95 crore ($1107.02 million), up 4% in volume, 16% in rupee realisation and 23% in dollar terms.

Exports in 2009-10 aggregated to 6,63,603 tonne valued at Rs 9,921.46 crore ($2105.60 million). MPEDA hopes to achieve $2.5 billion exports during the current fiscal with volumes rising at 15%.

Shrimp exports, which were down for some years due to anti-dumping duty in the US, economic slowdown and strict controls by Japan and EU, have bounced back.

Frozen shrimps are the mainstay of seafood exports and constitute almost half of the total exports. Shrimp exports during the first half of 2010-11 has increased by 10% in volume, 28% in rupee terms and 34 % in dollar realisation.

Buying by the much-quality conscious Japan has also moved up during the period. Trade with Japan has increased by 38% in volume, 76% in rupee terms and 85 % in dollar realisation.

Production and export of vannamei shrimps has also helped seafood record impressive growth during the period. India started farming of the vannamei, or white shrimps, in 2010 following stiff competition from countries like Thailand and China in the global market.

However, exports to EU, which is still the largest bloc for Indian and accounts for 30% of the total exports, has slowed down and is lower by 7% in volume. Rupee realisation has also declined by 3% while up by 2% in dollar terms. Surprisingly, exports to China have also declined during the period.

China with a share of 17.73% of the total exports in 2009-10 had helped sustain Indian exports when buying from EU and US markets was less. The South East Asia countries with 14.61% of the share during the last fiscal have also registered growth during the period.

Source : financialexpress.com