Growth of shrimp exports may shrink to single digit this fiscal

Shrimp exports account for 67% of marine exports from India in terms of value

Frozen shrimp exports might slow down this financial (FY16) year on lower international demand and production setbacks due to floods and disease.

According to industry estimates, marine product exports at 421,385 tonnes declined 14 per cent in value and 4.5 per cent in volume in the first half of 2015-16 from the same period a year ago. The Marine Products Export Development Authority had in July projected exports in 2015-16 would reach $6.6 billion.  India exported $5.5 billion worth of marine products in 2014-15, a growth of 10.05 per cent over the previous year. Frozen shrimp accounted for 67 per cent of the total export value. The contribution of cultured shrimp to total shrimp exports was 76.45 per cent. This year, the growth of shrimp exports might be in the low single digits, the industry reckons.

“Several states have curtailed the fishing season keeping in mind marine conservation requirements. This will have an impact on shrimp exports from India,” said Rustom Irani, president of the Seafood Exporters’ Association of India. He added aquaculture shrimp growth had also slowed because of floods and viral diseases.

During 2014-15, shrimp aquaculture grew  30.64 per cent to 4,34,558 tonnes. Production of the Vannamei variety of shrimp increased 41 per cent to 3,53,413 tonnes. Black Tiger shrimp production remained stagnant at 71,400 tonnes.  All the major shrimp-producing states had clocked growth in the previous financial year: Andhra Pradesh (31 per cent), Tamil Nadu (20 per cent), Gujarat (182 per cent), Maharashtra (113 per cent) and Orissa (56.13 per cent).

Kamlesh Gupta, chairman and  managing director, WestCoast Group, a Mumbai-based integrated seafood company, said, “We are eyeing 30 per cent year-on-year growth as a company for the next three years.”

He added there had been an immense improvement in processing capacity.  India has an estimated 1.1 million hectares available for brackish water shrimp cultivation and only 100,000 hectares are being farmed.