India’s sea food exports up 23 per cent at to $5.78 bn in 2016-17

Source: The Economic Times, June 07, 2017

NEW DELHI: Buoyed by robust demand for its shrimp and frozen fish in international market, Indian exports of seafood touched their record high in 2016-17.

Data released by the commerce ministry on Wednesday showed India exported seafood worth $5.78 billion in 2016-17 compared with $4.69 billion a year ago.

“India exported seafood worth an all time high in 2016-17…with USA and South East Asia continuing to be the major importers while the demand from the European Union grew substantially during the period,” the ministry said in a statement.

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Frozen shrimp maintained its position as the top item of export accounting for 64.5% of the total earnings followed by frozen fish with an 11.64% share. While shrimp exports rose 20.33% in dollar terms, outward shipments of frozen fish registered a growth of 26.92% in terms of value.

“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,” said commerce and industry minister Nirmala Sitharaman.Besides frozen shrimp and frozen fish, India’s other major seafood product was frozen squid whose exports rose 57% in value.

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