Exports of marine products all-time high of $5 bn in FY'14

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SME Times News Bureau | 31 May, 2014
Exports of marine products during the financial year 2013-14 has reached an all-time high of USD 5007.70 million, said official data released on Saturday.

"Marine product exports crossed all previous records in quantity, rupee value and USD terms. Exports aggregated to 9,83,756 MT valued at Rs. 30,213.26 crores and USD 5,007.70 million," it said.

Compared to the previous year, seafood exports recorded a growth of 5.98 percent in quantity, 60.23 percent in rupee and 42.6 percent growth in USD earnings respectively.

The unit value realization also reached to record high from USD/Kg 3.78 during 2012-13 to USD/Kg 5.09 during 2013-14 and recorded growth of 34.55 percent. The increased production of L. Vannamei shrimp has helped to achieve higher exports.

Frozen shrimp continued to be the major export value item accounting for a share of 64.12 percent of the total USD earnings. Shrimp exports during the period increased by 31.85 percent, 99.54 percent and 78.06 percent in quantity, rupee value and USD value respectively.

There was all time high growth in unit value realization of frozen shrimp at 35.05 percent.

The overall export of shrimp during 2013-14 was to the tune of 3,01,435 MT worth USD 3210.94 million. USA is the largest market (95,927MT) for frozen shrimps exports in quantity terms followed by European Union (73,487 MT), South East Asia (52,533MT) and Japan (28,719 MT).

The contribution of cultured shrimp to the total shrimp export is 73.31 percent. The export of cultured shrimp has shown tremendous growth of 36.71 percent in quantity and 92.29 percent in dollar terms.

South East Asia continued to be the largest buyer of Indian marine products with a share of 26.38 percent. USA is the second largest market with a share of 25.68 percent followed by European Union (EU) (20.24 percent), Japan (8.21 percent), other countries (8.20 percent), China (5.85 percent) and Middle East (5.45 percent).

Marine products were exported through 26 sea/air/land ports. Exports improved from Vizag, Chennai, Krishnapatnam, Tuticorin and Mangalore compared to the corresponding period during the last year. Pipavav is the major port in terms of quantity (25.27 percent) and Vizag is the major port in terms of dollar value (22.59 percent).

MPEDA envisages target of USD 6.0 Billion for the year 2014-15. Increased production of L. Vannamei shrimp, Quality control measures and increase in infrastructure facilities for production of value added items are expected to help in achieving this target.