Exports of seafood and farm-raised shrimp and fish from India hit an all-time high of over $5.511 billion during fiscal year 2014-15, up 10.5%, according to the Kochi, Kerala-headquartered Marine Products Export Development Authority (MPEDA). Shipments rose 6.86% in quantity compared with the previous year.
MPEDA, a department of India’s Ministry of Commerce & Industry, reported that depreciation of the domestic currency and euro, reduced demand in China, devaluation of the Japanese yen, and the rebound of cultured shrimp output in Southeast Asia impacted the market.
Shrimp exports (primarily frozen) in 2014-15 amounted to 357,505 metric tons valued at almost US$ 3.710 billion. Farm-raised shrimp accounted for 76.45% of the value in US dollar terms. Its growth rate was 21.66% in quantity and 15.53% in value.
Sales of finfish represented 29.44% of exports in quantity and 11.24% of hard currency earnings. Frozen fish, however, posted negative growth of 4.60%, 12.02% and 12.55% in terms of quantity, rupee value and US dollar value.
