Strong dollar gives push to marine exports

A sharp increase in the value of the dollar, unit value of various items, and the rise in exports to South East Asia, helped the marine products export sector to perform better during the April-December period of the current fiscal. It is likely that the current fiscal year will close with an overall increase of 20 per cent at $3.5 billion, as against $2.8 billion in 2010-11.

During April-December, the exports registered a growth of 1.48 per cent in quantity, 21.68 per cent in rupee value and 18.72 per cent in dollar realization, compared to the same period last year. The unit value realisation also improved 16.98 per cent.

 

621,577 tonnes of marine products valued at Rs 12,190.93 crore were shipped during the period, as against 612,505 tonnes valued at Rs 10,018. 47 crore in the same period of 2010-11.

Exports of frozen shrimp and fish registered a positive growth both in quantity and value. Exports to South East Asia, Japan and USA also registered positive growth both in quantity as well as in value terms.

Frozen shrimp continued to be the major export item, accounting for 51.35 per cent of the total dollar earnings. Shrimp exports during the period increased 17.67 per cent in volume and 34.77 Re value. There is a considerable increase in unit value realisation (13.01 per cent) also. Export of Vannamei Shrimp during the period increased tremendously by 272 per cent in volume and 326 per cent in value, according to the latest data of Marine Products Export Development Aouthority (MPEDA).

Fish, the second-largest export item in value term, accounted for a share of about 39.43 per cent in quantity and 19.14 per cent in dollar earnings. Frozen fish exports during the period increased by 6.40 per cent in quantity, 21.81 per cent in rupee value and 15.96 per cent in dollar earnings. Unit value realisation also improved by 8.99 per cent.

Frozen squid and cuttlefish exports decreased in quantity, but showed an increase in value terms both in rupee as well as in dollar terms. Frozen squid exports showed a decline of 12.21 per cent in quantity and showed a growth of 20.10 per cent and 18.28 per cent in rupee value and dollar realisation. There is an increase in the unit value realization by 34.73 per cent. Dried items export also declined by 39.11 per cent in quantity 55.08 per cent and 56.53 per cent in rupee and US$ value respectively.

For the first time, South East Asia became the largest market with a share of 25.75 per cent in US $ realization and 39.58 per cent in quantity. Exports to S E Asia have shown a growth of 43.19 per cent in quantity, 103.70 per cent in rupee value and 95.99 per cent in dollar realization.

EU slipped to second spot followed by USA, Japan, China and West Asia. Exports to EU registered a growth of 1.33 per cent in US$ realization but declined in quantity by 13.66 per cent. Export to the US registered a growth of 31.33 per cent in quantity and 39.05 per cent in US$ realization. Japan also registered a positive growth of 19.25 per cent in quantity and 18.12 per cent in dollar realization. Exports to China have shown a drastic decline both in quantity as well as in value terms.

The Surge in exports to SE Asia is attributed to shortage of raw material in that region as well as due to the Indo - ASEAN trade pacts. The short supply from SE Asia and Indo - Japanese CEPA has also had a good impact on the exports to Japan.

Export realization in rupee terms increased by about 22 per cent and depreciation of rupee against US dollar and other major commercial resulting in better value realization in rupee terms also.