, 04 August 2016 : Indian seafood exports has recorded a marginal drop at 0.94 million tonnes, earning $4.7 billion to the exchequer during the fiscal year of 2015-16.

During the same period last year, seafood exports were recorded at 1 million tonnes amounting to $5.5 billion, Marine Products Export Development Authority (MPEDA) said in a statement.

Citing the reasons for drop, MPEDA officials said that depreciation of Euro, weaker economic condition in China, devaluation of Yen contributed were the major reason for decline in exports.

MPEDA said that frozen shrimp continued to be the major export item in the last fiscal, followed by frozen fish.

The US continued to be the major importer of Indian seafood with a share of 28.46 per cent in value terms at 153,695 tonnes of seafood during 2015-16 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.

The revival of the aquaculture production (especially shrimp) in Thailand and Vietnam has resulted in a better supply situation in the international market, MPEDA official adds.

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 (348,296 tonnes) compared to 2014 (389,007 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.

Frozen fish is the second largest export item, accounting for a share of 24.18 per cent in quantity and 11.30 per cent in USD earnings.

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.