With the global recession seriously affecting the marine products market, the Marine Products Export Development Authority (MPEDA) has revised the export target for the current fiscal at $1,300 million. The earlier target was $1,350.
According to MPEDA chairman K Jose Cyriac, the exports registered a slight recovery in December 2,001 as against October and November. He termed it a positive sign. However, the total export will be less than the 2000-01 achievement.
Since February 2001, the exports have been affected due to decline in the global price level of marine products especially shrimp. During February-August, the prices fell by an average four per cent. But the terrorist attack in the USA shattered the marine products prices.
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In September 2001, the marine products prices recorded a 37 per cent decline, Jose Cyriac said.
However, the situation changed in October as the decrease in price level in dollar terms was 11.7 per cent. It improved further in the following two months.
The total marine products export from India during 2000-01 was Rs 6,400 crore, an all time record. This shows a 26 per cent increase as against the previous financial year.
The total export during April-October 2001 was Rs 3,370 crore as against Rs 3,640 crore during the same period in 2000. In volume terms, exports was 20,1,300 tonne in April-October 2001 as against 20,17,00 tonne in 2000.
Meanwhile, according to sources, the commerce ministry is likely to increase the budget outlay for MPEDA to Rs 40 crore in the next fiscal as against the the budgetary assistance of Rs 30 crore in this fiscal.