India eyes $4 bn earnings from marine products

India is eyeing marine product earnings worth $4 billion during 2011-12, Marine Products Export Development Authority (MPEDA) has said.

"Increased production of Vannamei shrimp, increase in better infrastructure facilities for production of value added items and the regaining pace of Japanese market after tsunami would help India achieve the target," MPEDA Chairman Lina Nair said.

During 2010-2011, for the first time, Marine products exports, crossed $2.8 billion. Exports aggregated to 8,13,091 tonnes valued at $2856.92 million.

Compared to the previous year, sea food exports recorded a growth of 19.85% in quantity, 28.39% in rupee and 33.95% growth in dollar earnings, respectively.

Egypt and African countries were among the new markets India was looking at. Exports to South East Asian countries had increased, she said adding: "It was high time sea food industry took stock of the situation."

The global crisis will not have any impact on marine product export, the chairman claimed. "They haven't in the last two years...There is no slowing down of marine products exports in India," she said.

The Indian achievement this year must be viewed in the light of the scenario of continuing recession in the International markets, debt crisis in EU economies, continuing anti-dumping duty in US and sluggish growth in US economy besides political instability in the Arab world, she said.

Increased production of Vannamei shrimp, black tiger shrimp and better price realisation of major items like cuttle fish, shrimp and squid helped India gain the high export turnover.

Frozen shrimp continued to be the major export value item accounting for 44.17% of the total $earnings. Shrimp exports in the period increased by 16.02%, 36.72% and 42.90% in quantity, rupee value and dollar value, respectively.

Fish has retained its position as a principal export item in quantity terms and the second largest export item in value terms accounting for a share of about 38.42% in quantity and 20.42% in $earnings, the chairman said.