Earnings from marine product exports have crossed the $2-billion mark for the first time during the past fiscal, Marine Products Export Development Authority (MPEDA) chairperson Leena Nair said here today.
Export crossed all previous records in volume, as well as in value terms --both in rupee and dollar value--touching about 6,63,603 tonne, valued at Rs 9,921.46 crore or $2,105.60 million, Nair said.
During 2008-09, about 6,02,835 tonne valued at Rs 8,607.94 crore or $1,908.63 million were exported.
Compared to the previous year, FY10 exports grew 10.08 per cent in volume terms, 15.26 per cent in rupee value and 10.32 per cent in dollar earnings, she added.
In volume terms, this year the MPEDA is expecting a 15 per cent growth and $2.5 billion in terms of value, she said.
The figures must be viewed in the light of the global recession and the rising rupee, she said, adding the industry has been impacted by these global factors as otherwise realisation in rupee terms would have been at least Rs 200 crore more and $50 million.
The EU continues to be the largest market for our marine exports with a share of 30.07 per cent in value terms, followed by China with 17.73 per cent, Southeast Asia 14.61 per cent, Japan 12.96 per cent, the US 10.02 per cent, the Middle East 5.57 per cent and other countries 9.05 per cent, Leena Nair said.
There was a 50 per cent fall in exports to the US in value terms and nearly 46 per cent in volumes during the period under review, she said. From 61,703 mt valued at $424.51 million in 2002-03, exports declined to 33,382 mt or $211.06 million during the past fiscal.
Attributing the fall to anti-dumping duties, Nair said the duty is a major issue. "We would like to retain the US market. But if duties are high, exporters will look at other markets. India is the only country which filed export details and is hoping for a favourable response. China, Brazil and Thailand have so far not filed their responses," she said.
But she said exports to the Middle East and Southeast Asia rose 27 per cent and 62 per cent respectively in volume terms during the period, while those to Libya, the Reunion Islands, Australia, Kenya, Brazil also saw positive growth.
Frozen shrimp continues to be the major export value item accounting for 41.74 per cent of the total earnings, Nair said, adding shrimp exports in FY10 rose 3.14 per cent, 10.14 per cent and 4.72 per cent in volume, rupee value and dollar value, respectively.
Fish continues to retain its position as the principal export item in volume terms and the second largest export item in value terms, Nair said.
