Higher export of shrimps helped India perform better during the first half of the current financial year. Weakening of rupee gives Indian seafood exporter a chance to get better realization for their products. Compared to the same period in previous years, the exports recorded a growth of 0.12 percent in quantity, and 23.01 percent growth in US dollar earnings.
Marine Exports Product Development Authority (MPEDA) has released a data which shows that the export of marine products from India during April to September 2011 was 3,12,904 tonne in quantity, worth R6,679.57 crore equivalent to US $1,496.34 million. During the last financial year India exported 8,13,091 tonne of marine products, of an aggregate value of R12,901.47 crore ($2,856.92 million).
Growing demand of frozen shrimp also push the market and thus Indian frozen shrimp contributes a great deal in the export earning. Shrimp exports during the period increased by 19.34 percent, 32.90 percent and 36.74 percent in quantity, rupee value and US dollar value respectively. Indian has emerged as a major supplier of frozen shrimp to Japanese market during this period.
According to MPEDA Indian shrimp exports to US market also showed an increasing trend despite its decision to continue with the antidumping duty imposed on frozen shrimp imports from India. Even buyers and customers have shown great confidence in Indian shrimp supply.
