Frozen squid shipments increased by 49 per cent in quantity and 74 per cent in USD terms. (Photo: K L Constantine/FIS)
Exports skyrocket to USD 2.67 bln
Monday, April 25, 2011, 23:50 (GMT + 9)
Seafood export earnings for 2010-11 reached a record of USD 2.67 billion despite the global recession’s after-effects. The growth is mainly attributed to a 104 per cent-increase in exports to the US, informed the Marine Products Export Development Authority (MPEDA) in its provisional estimates.
For April-March 2010-11, marine product exports exceeded USD 2.67 billion – up 10.96 per cent in quantity, 20.42 per cent in rupee value and 25.55 per cent in USD terms year-on-year. India shipped out 752,791 tonnes worth INR 12.100 billion (USD 2.67 billion) versus 678,436 tonnes valued at INR 10.048 billion (USD 2.2 billion) in 2009-10; exports that year hit USD 2.13 billion.
“There is a considerable increase in export of frozen shrimp and frozen squid during the period. Large-scale production of vannamei, higher productivity of black tiger shrimp and increased landings of squid might be attributed for the increase,” said MPEDA.
“It may be noted that the achievement is made in spite of despite the after effects of recession in the international market, the Rupee becoming stronger, with respect to the Euro and the dollar and the collapse of economies in Greece, Spain and Portugal,” the group added, reports Financial Express.
The European Union (EU) has been India’s largest seafood importer for the last five years.
The provisional figures show that frozen shrimp remains a key export item and made up 46 per cent of total USD earnings. Shrimp exports jumped by 13 per cent, 35 per cent and 41 per cent in quantity, rupee value and USD value, respectively, reports Business Standard.
Shrimp exports to the US soared by 83 per cent in volume and 140 per cent in USD terms. Sales to Japan also mounted by 17 per cent in volume and 43 per cent in USD terms.
India shipped out 10,000 tonnes of vannamei shrimp that year as well.
Fish sales accounted for 39 per cent in quantity and 20 per cent in USD earnings versus the previous year's 12 per cent in quantity and 26 per cent in USD realisation.
Frozen squid shipments rocketed by 49 per cent in quantity and 74 per cent in USD terms and cuttlefish fell by 12 per cent in quantity but rose by 16 per cent in USD realization.
The US regained its position as the second-biggest importer at 16 per cent, followed by South East Asia with 16 per cent, China at 15 per cent, Japan 14 per cent, the Middle East 5 per cent and other countries at 8 per cent. Exports to the US jumped by a whopping 104 per cent in value and 47 per cent in volume, partly due to heftier shrimp and squid sales.
Exports to Japan escalated by 11 per cent in quantity and 36 per cent in USD terms.
- Seafood exports unprecedentedly exceed USD 2 billion
- Exports to US help boost seafood businesses
By Natalia Real