Indian squid. (Photo: K L Constantine)

July exports rose 22 pc, hit USD 170 mln

INDIA
Tuesday, September 21, 2010, 02:00 (GMT + 9)

Indian seafood exports increased by 22 per cent in July to USD 170 million, compared to USD 139 million in July 2009, due to higher US, Japanese and European demand, according to Seafood Exporters Association of India (SEAI) officials.

Seafood exports yielded USD 638 million during the first four months of FY 2010-11 against the USD 517.40 million during the same period of the previous fiscal year.

Higher catches in India have helped the trend and led to diminished domestic prices. The only worry of the USD 2 billion industry, said national SEAI President Anwar Hashim, is the weakening dollar and the consequent lowering of the export realisation.

The Marine Products Export Development Authority (MPEDA) informed that climbing Japanese demand for tiger black shrimp played an important role in the rising exports last July, reports Commodity Online. 

“Better landings has helped in higher exports. Landings of cuttle fish, squid and black tiger prawns have been higher, which has also helped in lowering the domestic price and in turn making us competitive at the global level,” he told.

Exports are usually low during the monsoon season lasting June-August due to a trawling ban in coastal states.

Hashim believes the importers in Europe and the US are now again increasingly growing their business with India.

“Exports of shrimps to the US market are on a positive note despite the fact that the anti-dumping duty has increased after the fourth review. The customs bond has been waived and exporters are returning to the US market,” he continued.

The effect of the anti-dumping duty and customs bond put into force starting in 2004 harshly affected Indian seafood exports, as Indian shrimp exporting firms fell from 228 to fewer than 75.

Frozen shrimp exports make up nearly 50 per cent of the value of India's total seafood exports. The US regulations consequently harmed the aquaculture farms along India’s coast.

These losses were more than compensated, though, by burgeoning trade with West and South Asian countries. Exports to the former jumped by 27 per cent during the past year while exports to Southeast Asian countries rocketed by 62 per cent during the last fiscal year.

Exports to Japan have expanded despite the country’s very high quality standards, MPEDA informed. The first quarter’s export volume rose by 47 per cent while value climbed by 30 per cent.

India exports black tiger shrimp, fresh water prawn shrimp, fresh sail fish, frozen versatile fish, frozen skip jack and frozen squid, among other marine species.

Related articles:

- US anti-dumping duty stands
- Seafood export speculations for 2010 vary

By Natalia Real
[email protected]
www.seafood.media

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