India’s seafood exports to be ‘tepid’ this year

This year’s seafood exports will be less than last year’s with exporters facing problems in major markets and operational cost increasing due to an increase in freight and diesel prices.

??“Exports have shown a decline of 11 percent in value in dollar terms and about 5 percent in quantity till December. There is a marginal improvement in value in rupee terms. We may not reach last year's figure this year,” said Elias Sait, secretary general of Seafood Exporters Association of India. ??

India exported 8,62,021 metric tons (MT) seafood valued at USD 3.5 billion (EUR 2.6 million) in 2011 to 2012. The Marine Products Export Development Authority had set a target of USD 4.5 billion (EUR 3.3 million) for the current year given the increase in vannamei shrimp production. ?

Global prices are down and buying by most countries is sluggish. Though there is an increase in the production of farmed shrimp, there has been a sharp fall in sea catches. As a result, exports of squid, cuttlefish and lowvalue fishes like mackerel and sardines have come down.

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