Seafood exports record marginal dip in FY16

Weighed down by various factors, seafood exports from the country witnessed a dip in both quantity and value terms in 2015-16 compared to the previous fiscal, MPEDA said today.
Seafood exports in 2015-16 stood at 9,45,892 tonnes worth USD 4.7 billion as against the record one million tonnes exported in the financial year 2014-15 for USD 5.5 billion.
Frozen shrimp continued to be the major export item in the last fiscal, followed by frozen fish, Marine Products Export Development Authority (MPEDA) said.
The US continued to be the major importer of Indian seafood with a share of 28.46 per cent in value terms. The US had imported 1,53,695 tonnes of seafood in the last fiscal.

The export to the US had registered a growth of 18.53 per cent in quantity terms while in value terms it showed a decline of 2.23 per cent in terms of rupee and 8.52 per cent in terms of US dollar.
MPEDA Chairman A Jayathilak said the depreciation of Euro, weaker economic condition in China, devaluation of Yen contributed to the decline in exports.

"The revival of the aquaculture production (especially shrimp) in Thailand and Vietnam has resulted in a better supply situation in the international market," Jayathilak said.
It has eased the price situation of shrimp in the world over, including India.

"Thus our average unit value realization of frozen shrimp has come down to USD 8.28 per kg in 2015-16 as against USD 10.38 in 2014-15. Shrimp constitute 66 per cent value of total exports," he said.
MPEDA said other factors that contributed were the decline in capture fishery.
As per the statistics available, wild caught shrimp landing declined by 10.5 per cent in 2015 (3,48,296 tonnes) compared to 2014 (3,89,007 tonnes), it said.
Frozen shrimp continued to be the major item of export in terms of quantity and value, accounting for a share of 39.53 per cent in quantity and 66.06 per cent of the total trade value in dollar terms.

Shrimp exports during the period increased by 4.58 per cent in terms of quantity.
South East Asia remains the second largest market of
Indian Marine products accounting for a share of 24.59 per cent in value terms followed by the European Union (20.71 per cent), Japan (8.61 percent), Middle East countries (5.90 per cent), China (4.71 per cent) and other countries (7.03 per cent) respectively, MPEDA said.
"Exports of frozen shrimp improved by 80.17 per cent in quantity and 49.51 per cent in dollar terms. Exports of Vannamei and BT shrimp also improved substantially. This shows a shift from low value fish items to high value shrimp in Chinese market," MPEDA pointed out.

Exports to Middle East and other countries showed a negative growth in quantity as well as in value terms when compared to previous year, it added.