India’s seafood exports to EU to hit US$1.06bn this year

seafood india-Marx Ilagan sxcIndian seafood exports to the EU is expected to reach US$1.06bn in the fiscal year 2014-15, according to Marine Products Export Development Authority of India (MPEDA)

Leena Nair, chairperson of MPEDA, added that exports to EU steadily grew from US$227mn in 2000-01 to US$805mn in 2011-12.

Speaking at the Brussels seafood fair, she noted that among EU countries, Spain tops the list of importing Indian seafood products with US$188mn, followed by Belgium with US$187mn, UK and Italy with US$128mn each and France with US$106mn.

“These are the four major buyers in the EU and trade with the EU has also been climbing up,” Nair noted.

India currently exports over 75,000 metric tonnes of shrimp to the EU and is the largest supplier of shrimp from non-European countries to the EU. Apart from shrimp, India is also one of the largest supplier of squid and cuttle fish to Europe, especially to Spain and Italy.

The EU imported close to 44,000 metric tonnes of cuttle fish and 30,000 metric tonnes of squid from India this year. India has one of the highest number of EU-approved processing plants — 300 — and 46 EU-approved cold storages.

Nair said that Indian seafood exports around the world have been going up. “We have been doing very well in exports. Our exports have doubled and tripled. From 2008 to 2009 where we were at US$1.9bn and now we hope to reach US$5.7bn.”

Marketwise, the USA has been the most favoured destination followed by Southeast Asia, EU and the Middle East.

All in all, India exports seafood to 101 countries. Majority of the exports are made up of frozen shrimp, frozen fish, cuttle fish, dried items and squid.

About 20 seafood companies from India are among the 1,700 exhibiting companies from over 75 countries participating in the three-day Brussels seafood fair from 5-7 May 2015.

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