After experiencing a growing trend in the last years, seafood exports in India have dropped 10 per cent in volume and 9 per cent in value in the fiscal year 2015-2016.
Official statistics revealed by the Marine Products Exports Development Authority(MPEDA) show that during the fiscal year (from April 1, 2015 to March 31, 2016) a total of 945,892 tonnes of seafood was exported for a value amounting to USD 4.7 billion, against 1,051,243 tonnes for USD 5.5 billion exported in the previous fiscal period.
MPEDA attributes these results to the depreciation of euro, a weaker economic condition in China and devaluation of yen.
Another factor contributing to this decline is the price of shrimp, given that this product represents 66 per cent of the total value of Indian seafood exports.
MPEDA reported that frozen shrimp came down to USD 8.28 per kg in the analysed fiscal year against USD 10.38 in the previous one.
Meanwhile, MPEDA chairman A Jayathilak explained the revival of the shrimp aquaculture production in Thailand and Vietnam, which had gone down due to diseases, resulted in better supply situation and eased the prices of the crustacean in the world market.
He also stressed that wild shrimp landings declined by 10.5 percent, to 348,296 tonnes.
However, Vannamei shrimp sales abroad grew by 16 per cent in volume, from 222,176 tonnes in the previous fiscal year to 256,699 tonnes during the analysed period.
In value terms, about 50 per cent of the total Vannamei shrimp was exported to the US, followed by 17.25 per cent to the South-East Asian countries. The European Union (15.78 per cent), Japan (4.55 per cent), West Asia (3.62 per cent), China (2.23 per cent) and other countries (6.40 per cent) were located further back.
In order to boost white shrimp farming, the Government is in the process of setting up a nuclear breeding centre for shrimp in Kanyakumari, which will be operational in two years. Currently, the brood stock is imported to meet the demands of aquaculture farmers.
India Seafood exports decline despite Vannamei sales growth
Source : FIS
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