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  1. Soaring demand for shrimp, squid power seafood exports from India to $1.42 bn in Q1

Soaring demand for shrimp, squid power seafood exports from India to $1.42 bn in Q1

During the first quarter of the last fiscal, exports stood at 2,01,223 tonne, valued at $1.17 billion. India is the second-largest fish producer in the world after China, accounting for nearly 6% of global production.

By: | Kochi | Published: October 17, 2017 2:07 AM
Seafood exports from India during the first quarter of the current fiscal showed a remarkable growth to touch 2,51,735 tonne.(Reuters)

Seafood exports from India during the first quarter of the current fiscal showed a remarkable growth to touch 2,51,735 tonne, valued at Rs 9,066.06 crore ($1.42 billion) on the back of soaring demand for frozen shrimp and squid, state-run Marine Products Export Development Authority (MPEDA) said on Monday. During the first quarter of the last fiscal, exports stood at 2,01,223 tonne, valued at $1.17 billion. India is the second-largest fish producer in the world after China, accounting for nearly 6% of global production. Seafood exports from the country hit an all-time high last fiscal with the total revenue touching $5.78 billion, or Rs 37,870.90 crore, by exporting 11,34,948 tonne, largely due to a robust demand for frozen shrimp and fish. During the quarter under review, frozen shrimp continued to be the top export item from the marine products basket, accounting for a share of 50.66% in volume and 74.90% of the total earnings in dollar terms. Shrimp exports rose 20.87% in terms of volume and 21.64% in dollar terms.

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