Frozen shrimps help seafood exports reach all time high in 2016-17

Seafood export volume: 11,34,948 mn tonnes; Earnings: $5.78 bn of which Vannamei shrimps make up 64%

Burgeoning export of home-grown shrimps have boosted seafood exports to its highest ever extent in 2016-17.

Official figures released by the Marine Products Exports Development Authority (MPEDA) on Wednesday showed seafood exports reaching a record high of 11,34,948 million tonnes as well as earning a record $5.78 billion mainly due to rapid growth in frozen shrimp and fish shipments.

Frozen shrimp of the Vannamei variety maintained its position as the top exported item, accounting for more than 64 per cent of the total earnings. Shrimp exports increased by more than 20 per cent in spite of growing opposition US based shrimp farmers who have argued Indian exporters are dumping produce in the US market.

The American Shrimp Processors Association has named India, along with Indonesia, Thailand, Vietnam, Mexico, China, and Malaysia, as seven of the 13 countries with which the US ran a significant overall shrimp trade deficit in 2016. The US trade deficit in shrimp was nearly $4.5 billion in 2016.

Recently, the International Trade Commission of the United States had unanimously voted to extend the current anti-dumping orders on shrimp from China, India, Thailand and Vietnam for an additional five years.

Domestic players however sounded hopeful of more growth in the future. This is because of the adoption of the Vannamei or Pacific White variety of shrimp in recent years over the Black Tiger variety of shrimp for which India had hitherto been known, an official at the Seafood Exporters Association of India said.

Pacific white shrimp takes less time to grow to market size, is more resistant to disease than black tigers, and is more affordable. Black tiger prices are currently about 25 to 30 percent higher than Pacific whites.

The US and South East Asia continued to be major importers while demand from the EU grew substantially. The US imported 1,88,617 million tonnes of Indian seafood, accounting for 29.98 per cent in terms of dollar.

This represents a growth of 22.72 per cent annually. South East Asia remained the second largest destination with a share of 29.91 per cent in dollar terms followed by the EU (17.98 per cent), Japan (6.83 per cent), the Middle East (4.78 per cent) and China (3.50 per cent).

Frozen Fish was the second largest export item, accounting for more than 11 per cent in dollar earnings and registering a growth of 26.92 per cent in value terms. Frozen squid came next recording a growth of 21.50 per cent. Earnings from export of frozen cuttlefish also rose by 16.95 per cent.