A sharp decline in the catch from the Gulf of Mexico, coupled with a drop in the global supply of seafood, helped the Indian seafood sector to perform better in the US market.
During 2010-11, export of frozen shrimp from India to the US had increased 83 per cent in volume and 140 per cent in dollar value, a sharp U-turn in the exports to the US market since 2004.
During 2004 -2009, Indian exports to the US, especially, frozen shrimp faced a serious set back due to the heavy anti-dumping duty imposed.
Exports to the US during 2010-11 increased to 61,089 tonnes, as against 33,382 tones in 2009-10. Total export earnings from the US market increased sharply to $ 506 million from $ 211 million in 2009-10.
According to a leading Kochi-based exporters, the huge increase in exports to the US was due to short supply in the world market. Traditionally, the US market depends on the catch from the Gulf of Mexico, but the oil slick has affected the supply badly.