India's seafood exports up 25% in 2010-11

NEW DELHI: Seafood exports grew by an impressive 25.5 per cent year-on-year to USD 2.6 billion in 2010-11, surpassing the target set by the government as shipments to European and Japanese markets improved.

The target for the last fiscal was fixed at USD 2.5 billion.

During 2009-10, India's seafood exports amounted USD 2.1 billion, according to figures released by the Marine Products Export Development Authority ( MPEDA).

"There was an increase in demand for black tiger shrimp and frozen squid from Europe, Japan and the US markets," an MPEDA official said.

Of the country's total seafood exports in the last fiscal, Europe accounted for 26 per cent, followed by Japan (20 per cent) and the US (17 per cent).

However, export consignments declined by 5 per cent to USD 177 million in March.

While the April figures have not been released so far, the Commerce Ministry has indicated that exports declined in the opening month of the the 2011-12 fiscal.

A disruption in supplies to Japan because of the recent earthquake and tsunami is understood to be the main reason for the degrowth in March and April.

India's marine exports include black tiger shrimp, fresh water prawn shrimp, frozen versatile fish, frozen skip jack and frozen squid and the consignments are mostly from Maharashtra, Kerala, Tamil Nadu and West Bengal.