Seafood Exports to Pick up on US, Europe Demand.

Kochi: Seafood exports from India are on a roll with demand picking up in the US and European market, officials of the Seafood Exporters Association of India (SEAI) said.

Exports have been aided by higher catch in India, which has also contributed in lowering domestic prices. The only concern of the $2-billion is the recent weakening of the dollar, which lowers export realisation, Anwar Hashim, national president of SEAI told FE.

“Better landing has helped in higher exports. Landings of cuttle fish, squid and black tiger prawns have been higher, which has also helped in lowering the domestic price and in turn making us competitive at the global level,” he said.

Traditionally, exports are lean during the months of June-August on account of trawling ban in coastal states during the monsoon.

Hashim feels that European buyers and US are back on track and consumption is slowly increasing. “Exports of shrimps to the US market are on a positive note despite the fact the anti-dumping duty has increased after the fourth review. The customs bond has been waived and exporters are returning to the US market,” he added.

The effect of the anti-dumping duty and customs bond enforced from 2004 was dramatic on Indian seafood exports. Indian companies exporting shrimp to US fell to less than 75 from 228 at the time of imposition of punitive duties. Frozen shrimp exports constitute almost 50% of the value of India's total seafood exports and US actions had a deleterious effect on the numerous aquaculture farms spread over coastal India.

The loss Indian seafood suffered in the US market was more than made up by higher trade with the West Asia and South Asian countries. Exports to west asian countries have increased by 27% during the last one year while Southeast Asian countries have imported 62% more during the last fiscal, Marine Exports Product Development Authority (MPEDA) sources said.

Seafood exports from India has witnessed a sharp increase of 22% in July. During the first four months of FY 2010-11, marine exports stood at $638 million compared with $517.40 million in the same period of last fiscal.

Exports to Japan, which has very high quality standards has increased significantly during the period, MPEDA said. Volume of exports during the first quarter was higher by 47%, while value has gone up by 30% for the period. Dollar realisation from Japanese trade has increased by 41% during the...

Source : financialexpress.com