Seafood exports grow by 16pct in Q1
2017-10-18 17:45:32   copyfrom:    hits:

Frozen shirmps (Photo: K Constantine)INDIATuesday, October 17, 2017,23:10 (GMT + 9)Indian seafood exports increased

 
Frozen shirmps. (Photo: K. Constantine)

 

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Tuesday, October 17, 2017, 23:10 (GMT + 9)

 

Indian seafood exports increased 25 per cent in volume and 16 per cent in value in the quarter ended in June 2017 thanks to the rising demand for frozen shrimp, according to the Marine Products Export Development Authority (MPEDA).

During this period, 251,735 tonnes of seafood were exported for a total of INR 90.66 billion, a figure equivalent to USD 1.42 billion, compared to USD 1.17 billion obtained in the same quarter last year for the shipment of 201,223 tonnes abroad.

 According to statistics of MPEDA, frozen shrimp accounted for a share of 51 per cent of the total volume and 75 per cent in earnings in dollar terms, being vanname the bulk variety of the shrimp export, Economic Times reported.

“The growth in export was achieved in the face of continued uncertainties in the global seafood trade,’’ pointed out A Jayathilak, chairman of MPEDA.

The second largest seafood export in the period from April to June this year was frozen squid, accounting for 7.82 per cent in quantity and 5.81 per cent in dollar value. 

After squid, frozen fish were the largest exported items.

The major importers of Indian seafood were the United States and South East Asia with a share of 35 per cent and 31 per cent, respectively. 

These destination markets were followed by the European Union (EU) with a participation of 14.70 per cent and Japan with 6.68 per cent. The demand from China saw a healthy surge during the period, with a participation of 3.06 per cent. 

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