India sets seafood export target for 2013-14

Created: Thursday, 04 July 2013 08:38

India's Marine Products Export Development Authority (MPEDA) has announced that it will seek to achieve a seafood export target of US$4.3bn in the year 2013-14

MPEDA chairperson Leena Nair said that increased production of Vannamei shrimp, quality control measures and increase in infrastructure facilities for production of value-added items have helped in setting this target.

During the financial year 2012-13, exports of marine products had reached an all-time high with exports crossing all previous records in quantity.

Nair said the increase in export must be viewed in the light of the weaker economic conditions in the European Union, the still-recovering US economy, moderate growth in China, technical barriers to trade by Japan, continuing anti-dumping duty and the possibility of countervailing duty on frozen shrimp by the US.

While frozen shrimp continued to be the major export value item, fish retained its position as the principal export item in quantity terms and the second largest export item in value terms. Frozen cuttlefish export has also recorded a growth of 16 per cent in quantity.

India will continue to focus on Southeast Asia as the largest market for Indian marine products. EU, which is the second largest market, has a share of 22 per cent, followed by US with 21 per cent, Japan with 11 per cent and China eight per cent.