Seafood export target set at $4.3 billion for FY14

Increased production of Vannamei shrimp, quality control steps and better infra for production of value-added items may help in achieving the target

The Marine Products Export Development Authority has set an ambitious seafood export target of $4.3 billion for the year 2013-14.

Increased production of Vannamei shrimp, quality control measures and increase in infrastructure facilities for production of value-added items are expected to help in achieving this target, said Leena Nair, chairperson of the authority.

During the financial year 2012-13, exports of marine products reached an all-time high of Rs 18,856 crore. Exports, crossed all previous records in quantity, rupee value and dollar terms, aggregated to 928,215 tonnes valued at Rs. 18,856 crore and $ 3512 million.

Compared to the previous year, this recorded a growth of eight per cent in quantity, 14 per cent in rupee and 0.1 per cent growth in dollar earnings.

Nair said the increase in export must be viewed in the light of the weaker economic conditions in the European Union, the still-recovering US economy, moderate growth in China, technical barriers to trade by Japan, continuing anti-dumping duty and the possibility of countervailing duty on frozen shrimp by the US and continuous devaluation of Indian currency.

Major items of export
Frozen shrimp continued to be the major export value item, accounting a share of 51 per cent of the total dollar earnings. Shrimp exports during the period increased by 21, 19 and 4 per cent in quantity, rupee value and dollar value respectively.

There was a steep drop in unit value realisation of frozen shrimp at 14 per cent.

Fish, has retained its position as the principal export item in quantity terms and the second largest export item in value terms, accounted for a share of 37 per cent in quantity and 18 per cent in US$ earnings. Unit value realisation of fish decreased 9 per cent.

Frozen cuttlefish recorded a growth of 16 per cent in quantity. There is, however, a decline of 11 per cent in USD terms and 23 per cent in unit value realization. Cuttlefish price realisation fell by 23 per cent. Export of squid showed an increase of 12 per cent in rupee value and 0.36 per cent in unit value. There is a decrease of 3 per cent in terms of quantity.

Major export markets
Southeast Asia continued to be the largest buyer of Indian marine products with a share of 23 per cent in terms of US $ value realisation. European Union is the second largest market with a share of 22 per cent, followed by US (21 per cent), Japan (11 per cent), China (eight per cent) and West Asia.