Express News Service Striking a new high in export performance, India’s shipment of 13,77,244 MT of seafood earned US$ 7.08 billion during the financial year 2017-18, with frozen shrimp and frozen fish continuing to be the flagship export items, as compared to figures of 11,34,948 MT and 5.77 billion dollars, respectively in the preceding fiscal, registering a growth of 21.35%. In rupee terms, the exports of marine products were pegged at Rs 45,106.89 crore as against Rs 37,870.90 crore in FY 2016-17, notching a healthy growth of 19.11%. USA and South East Asia retained their positions as the major import markets of India’s seafood products, with a share of 32.76% and 31.59% in dollar terms, respectively, followed by EU (15.77%), Japan (6.29%), Middle East (4.10%) and China (3.21%). “In the face of continued uncertainties in the global seafood trade, India has been able to cling on to its position as a leading supplier of frozen shrimp and frozen fish in international markets. With a string of initiatives and policy support, we intend to achieve an export target of USD 10 billion by 2022,” said MPEDA Chairman Dr. A. Jayathilak. Despite the daunting challenges of oversupply as reflected in double-digit shrimp… Read full this story
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