The higher contribution of shrimp exports to the overall seafood products export is supporting growth of the sector, according to Ms. Leena Nair, chairman of the Marine Products Export Development Authority.
In the current 2011-12 financial year, up to January, estimates show that frozen shrimp exports grew 22 percent more in quantity as compared with the corresponding period in the previous year. The growth in value is nearly 40 percent.
During the year, Southeast Asia has emerged the largest export destination replacing European Union which has moved to the second place. However, there is an element of concern here as exports to the Southeast means that the Indian product is being further processed and re-exported. Indian exporters are losing out on these margins, Nair said.
Efforts are on to add value further, she said. Against the overall seafood exports of USD 2.8 billion in 2010-11, the exports in the current year are likely to exceed USD 3.5 billion.
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