India’s seafood exports at all-time high, revenue soars to $5.78 bn 

Seafood exports from the country hit an all-time high last fiscal with the total revenue touching $5.78 billion by exporting 11,34,948 tonnes of seafood products largely due to a robust demand for frozen shrimp and fish. In 2015-16, Indian seafood exports stood at 9,45,892 tonnes worth $ 4.69 billion. US and South East Asia continue to be the major importers while the demand from the European Union (EU) grew substantially during the period, officials of the state-run Marine Products Export Development Authority (MPEDA) said. India is the second largest fish producer in the world after China and accounts for nearly 6% of global fish production. Nirmala Sitharaman, union minister for commerce and industry said ,“Increased production of L Vannamei, diversification of aquaculture species, sustained measures to ensure quality, and increase in infrastructure facilities for production of value added products were largely responsible for India’s positive growth in exports of seafood”. Frozen shrimp maintained its position as the top item of export, accounting for 38.28 % in volume and 64.50% of the total earnings in dollar terms. Shrimp exports increased by 16.21% in terms of volume and 20.33% in dollar terms. Frozen fish was the second largest export item, accounting for a share of 26.15 % in volume and 11.64% in dollar earnings, registering a growth of 26.92% in value. The export of Vannamei shrimp, a major seafood delicacy, improved from 2,56,699 tonnes to 3,29,766 tonnes in 2016-17, registering a growth of 28.46% in volume. In value terms, 49.55% of total Vannamei shrimp was exported to USA, followed by 23.28% to South East Asian countries. Japan was the major market for Black Tiger shrimp with a share of 43.84% in terms of value, followed by US with 23.44%.