Marine product exports head north

Export of marine products registered an increase of 5.65 per cent in terms of volume and 7.69 per cent in terms of value during the April-June period of the current financial year.

A total of 128,384 tonnes, valued at Rs 1,988.62 crore, were shipped as against 121,519 tones worth Rs 1846.66 crore in the same period last fiscal, according to the latest data of Marine Products Export Development Authority (Mpeda).

Frozen shrimp continued to be the major export item accounting for 44.65 per cent of the total export earnings. Exports of shrimp grew 1.55 per cent to 26,065 tonnes (Rs 887.87 crore) as against 25,669 tonnes (Rs 883.96 crore).

The European Union (EU) was the largest importer with 24.75 per cent of the total shipment of seafood items in the first quarter. EU imported 31,780 tonnes (Rs 544.43 crore) followed by Japan with 17,639 tones (Rs 338.51 crore). China was the fourth largest importer of Indian seafood items at 12,211 tones valued at Rs 232.45 crore. However, in the current financial year, export to China suffered a huge setback as in Q1 total exports to that country dropped 43.86 per cent on the volume front and 22.5 per cent in value (Rs) terms.

Substantial increase happened in the case of Southeast Asia and Japan. Products worth Rs302.08 crore were exported to Southeast Asia, registering an increase of 83.53 per cent.