Indian seafood export revenue for 2007-08 is shorter by Rs 900 crore when compared to the performance of the previous fiscal, according to provisional estimates of the state-run Marine Products Export Development Authority (MPEDA).
According to MPEDA figures, India exported 5,29,357 tonne of seafood valued at Rs 7,476.37 crore during fiscal 2007-08, as against 6,12,641 tonne valued at Rs 8,363.53 crore for 2006-07. When compared to the previous fiscal, revenue has fallen by 10% and volume by 13%. The dollar revenue has increased nominally to $1.86 billion from $ 1.85 billion in the previous fiscal.
Competition from cheaper vannamei shrimps, lesser availability of cuttle fish and appreciating Indian rupee has seen Indian exports lose ground in the global market, Anwar Hashim, national president of Seafood Exporters Association of India (SEAI) told FE. Drop in unit realisation coupled with increasing production cost put exporters at a disadvantage when compared to other sources.
The major loses have come from the US and Japanese market while exports to Europe are encouraging, sources said. Cheaper competition from China in farmed shrimp is eating into the exports of black tiger shrimps, sources said. Farm level price of black tiger in India is the lowest ever and farmers are averse to seeding their farms. India must quickly switch on to the cheaper vannamei species to survive, as it is equally tasty and attractive, he added.
During 2006-07, exports had increased by 19.62 % in quantity and 15.43% in rupee value when compared to 2005-06.