Marine product exports grow to $ 3.42 billion in FY'12

NEW DELHI: Marine product exports are estimated to have grown by 20 per cent to $ 3.42 billion in the last fiscal on the back of increased shipments to South East Asia, Japan and the US.

The country had shipped marine products worth $ 2.85 billion in 2010-11 financial year.

"In 2011-12 fiscal we estimate the growth in export earnings to rise by more than 20 per cent as there has been good demand from South East Asian countries, besides Japan, the US and the European Union," a senior Agriculture Ministry official said.

Export of frozen shrimp and fish have registered a positive growth both in quantity and value. The shipments of frozen squids and cuttlefish have also witnessed a rise in value terms, the official added.

"The depreciation in the value of Indian rupee against the US Dollar has also helped in the increase in value of marine exports from the country," the official noted.

In the April-December period of the last financial year, India's marine food exports rose by almost 19 per cent to $ 2.62 billion from $ 2.21 billion in the same period of the 2010-11 fiscal.

In terms of quantity, seafood exports rose by 1.48 per cent to 6.21 lakh tonnes in April-December of 2011-12 from 6.12 lakh tonnes in the same period of the previous fiscal.

Marine exports in rupee terms rose by about 22 per cent to Rs 12,190.93 crore in the first three quarters of the last fiscal from Rs 10,018.47 crore in the same period of the 2010-11 fiscal.

In terms of unit value, marine exports rose by 17 per cent to $ 4.23 per kg as compared to $ 3.61 per kg in the same period.

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.