Marine product exports grow 18.72 pc in Apr

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SME Times News Bureau | 22 Feb, 2012
Exports of marine products grew by 18.72 per cent to $ 2628.19 million during April-December of the current financial year from $ 2213.82 million in the same period of the previous year, an official statement said here today.

In rupee terms, the exports went up by 21.68 per cent to Rs 12190.93 crore in April-January 2011-12 from Rs 10018.47 crore in the corresponding period of the previous year.

Exports of marine products grew by 1.48 per cent in terms of quantity, from 612505 tonnes in April-January 2010-11 to 621577 tonnes in the same period of the current fiscal year. The unit value realisation also improved by 16.98 per cent from $ 3.61 a kilogramme to $ 4.23 a kg, the statement said.

According to it, exports of frozen shrimp and fish registered a positive growth both in quantity and value during the period. Similarly, exports to South East Asia, Japan and the United States showed an upward trend in terms of quantity and value.

Frozen shrimp continued to be the major export item, accounting for 51.35% of the total dollar earnings. Shrimp exports during the period increased by 17.67%, 34.77% and 32.98% in quantity, rupee value and US$ value, respectively. There was a considerable increase in unit value realization (13.01%) also.

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

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.

EU slipped to second spot with a share of 22.02%, followed by USA 19.17%, Japan 14.09%, China 7.06%, Middle East 4.39% and other countries 7.51%. Exports to China have shown a drastic decline both in quantity as well as in value terms.