Global market volatility and currency fluctuation have not prevented India’s marine exports crossing the one-million-tonne mark in FY15, fetching earnings of $5.5 billion.

Seafood exports, compared to the previous year, recorded a 6.86 growth per cent in quantity, 10.69 per cent in rupee terms and 10.05 per cent growth in dollar earnings. The exports aggregated to 10,51,243 tonnes valued at ₹33,441.61 crore and $5511.12 million.

India could have achieved the $6 billion target but the unit value realisation for shrimps and other fish dropped internationally, Leena Nair, Chairman, Marine Products Exports Development Authority (Mpeda), said.

She pointed out that the current growth should be viewed under the prevailing international market situations. The depreciation of the euro, rupee, weaker economic conditions in China, yen devaluation, improvement in supply conditions in South East Asian countries vis-a-vis last year have resulted in continuous drop in shrimp prices.

Frozen shrimp continued to be a major item in the export basket accounting for a share of 34 per cent in quantity and 67 per cent in dollar earnings. However, the unit value realisation decreased to $10.38/kg from $10.65 in FY14, a negative growth of 2.59 per cent, she said.

Vannamei (whiteleg) shrimp continued to be the flagship product in the export basket showing a positive growth of over two lakh tonnes. The export of black tiger shrimp also picked up from negative growth of 0.64 per cent. US has emerged as the largest market (1,12,702 tonnes) for frozen shrimp exports in quantity terms followed by European Union (81,952 tonnes), South East Asia (69,068 tonnes) and Japan (30,434 tonnes).

With the downward trend in unit value realisation for Vannamei in the US and other markets since December 2014, she said that the price has dropped from $7.60/pound to $6.95 and the trend continued till end of March this year.

It has recorded a lowest of $5.90/pound in March. Though export of total shrimp increased by 18.61 per cent in quantity, the dollar realisation was only 15.55 per cent, she said.

Mpeda, she said, is focussing more on increased production of Vannamei shrimp, diversification of aquaculture species particularly Tilapia and Mangrove crab as well as value-addition to achieve the export target worth $6.6 billion in the current fiscal.

To a question, the Chairman said that there is a kind of saturation in Vannemei production in Andhra Pradesh, which has come down to 20 per cent from 60 per cent. However, several other States such as Gujarat, Odisha, Maharashtra are doing well in shrimp production. Out of the total shrimp exports, she said 75 per cent comes from aquaculture and the remaining from sea catch.

Fish is the second largest export item in the export basket accounting for a share of about 29.44 per cent in quantity and 11.24 per cent in dollar earnings.

Dried items also showed a positive growth in terms of quantity and rupee terms. In value-added products, the EU emerged as the leading destination.

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