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India's seafood exports cross one million tonnes

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Staff writer ▼ | April 11, 2014
Seafood export from India crossed 1 million tonne for the first time and the earnings crossed $4.5 billion during 2013-2014, according to provisional estimates of the Marine Products Export Development Authority (MPEDA).
India seafood
India seafoodSeafood export from India crossed 1 million tonne for the first time and the earnings crossed $4.5 billion during 2013-2014, according to provisional estimates of the Marine Products Export Development Authority (MPEDA).


An increase of $1 billion was recorded in just 12 months as exports were $3.5 billion during 2011-12 and 2012-13, a 30 percent rise.

In Rupee terms, the estimates indicate earnings of Rs 20,000 crore. In 2012-13 India exported 928,215 tonne of seafood, valued at 18,856.26 crore and in 2011-12 these were 862,021 tonne and Rs 16,597.23 crore respectively, reports StocksMarket.

MPEDA now targets earnings of $10 billion by 2020.

This promising performance was due to two major factors: serious fall in the production and export of shrimp from South East Asian countries and the lowering of countervailing duty (CVD) on Indian shrimp in USA.

Production in South East Asian countries had been affected badly due to the spread of a disease called Early Mortality Syndrome (EMS). Supply from Thailand, world's second largest shrimp producer, dropped around 50 percent from their normal production size of 500,000 tonne per year. Likewise, other leading producers like Vietnam and Malaysia have been hit badly.

India cashed in on this global situation and enhanced its exports to the South East Asian countries. Processing plants in East Asian countries had to depend on imports from India to meet their commitments with European and US importers.


 

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