Lesser availability of fish and appreciation of the Rupee are likely to bring down seafood exports for 2007-08, traders said. Exports for the FY are likely to be lower by 20% in value and 10% in volume, Anwar Hashim of Seafood Exporters Association of India told FE. Provisional figures provided by Marine Products Export Development Authority (MPEDA) puts the exports for April-October 2007-08 to be lower in value terms by 14% and 20% in volume terms. While India exported 2,65,834 tonne in April-October 2007-08 valued at Rs 4,281.64 crore the comparable figure for the same period in the last FY stands at 3,33,834 tonne valued at Rs 4,990.33 crore.
Interestingly the drop has not come from shrimp but from fish species like squid, cuttle fish and octopus. Shrimp exports fell marginally by 2% in volume terms while it suffered value drop of 14%, MPEDA sources said. Fish exports fell from 1,29,310 tonne in April-October 2006-07 to 88,651 tonne in the comparing period of the current FY. The major losses have come the US and Japanese market while exports to Europe are encouraging, sources said.
Catch of squid, cuttle fish and octopus has dropped dramatically after the trawling ban with the cost incurred increasing, Anwar Hashim said. He believes that exporters are unlikely to increase the trade given the high cost of production in India without any increase in unit realisation. Rupee has appreciated by almost 17% from October 2006 leading to a sharp drop in realisation, he said.