Even in the face of continued uncertainties in the global seafood trade, India has been able to cling on to its position as a leading supplier of frozen shrimp and frozen fish in international markets. Striking a new high, India’s seafood export touched 13.77 Lakh metric tons valued at Rs. 45,106 crore (USD 7.08 Billion) in 2017-18.
Frozen Shrimp maintained its position as the key contributor to seafood export basket, accounting for 41.0% in quantity and 68.46% of the total dollar earnings. Shrimp exports during the year rose by 30.26% in quantity and 30.10% in dollar terms. The overall export of shrimp during 2017-18 stood at 5.65 Lakhs tonnes. The export 2017-18 stood at 5.65 Lakhs tonnes. The export of Vannamei shrimp grew 22.02% to 4.02% Lakhs tonnes in 2017-18.
USA and South East Asia continue to be the major import markets for Indian seafood products, with a share of 32.76% and 31.59% in dollar terms, respectively, followed by EU (15.77%), Japan (6.29%), Middle East(4.10%) and China (3.21%). Japan was the major market for black tiger shrimps.
With a string of initiatives and policy support, we intend to achieve an export target of $10 billion by 2022, said Marine Products Export Development Authority. Despite the daunting challenges of oversupply, as reflected in double-digit shrimp exports by Ecuador and Argentina in 2017, increased supply from Vietnam and Thailand drop in global shrimp prices, and issues related to antibiotic residues, India’s seafood industry has been maintaining its growth streaks.
Source: Aquaculture Spectrum