Kochi, Nov. 16 The value realised from seafood exports has risen by 7 per cent despite a fall in the volume during the first six month of the fiscal.
What is noteworthy has been the strident growth in volume and value of exports to emerging market destinations such as China, South-East Asia and West Asia. This development occurs as exports to India’s traditional big markets such as the US, Japan and the European Union fell in volume and value.
While India’s seafood exports have fallen by 0.63 per cent to 2,47,578 tonnes (2,49,135 tonnes), the rupee earnings have grown by 7.02 per cent to Rs 4,151.84 crore (Rs 3,879.41 crore). With the dollar plunging in value against most global currencies and against the rupee in the recent past, dollar earnings have also fallen by 7.63 per cent to $857 million ($927 million).
Shrimp, which has high unit value in the export market, did not register a fall this year and this has also helped to propel increased rupee earnings. However this was on a small base.
The continuing slow growth in the Japanese economy and the anti-dumping duty on shrimp exports to the US resulted in declining volume and value of Indian exports. However, the recent reduction in the US anti-dumping duties imposed on Indian shrimp helped in the recovery. While the volume of exports to the US has dipped, the value realisation in Indian currency has remained positive. Japan and European Union registered a dip both in volume and value.
Starting from a far lower base, export realisation has grown 35 per cent from China and by 38 per cent from South-East Asian countries. For countries in West Asia, the realisation grew by 19 per cent.
Overall, the rupee earnings continued to be good during the first six months of the fiscal.
The increasing rejections by the European Union, the slowdown of the Japanese economy and the lower catch landing on India’s coastline have reduced export volumes.
There has been a significant fall in the catch in recent years, which is beginning to reflect in the country’s marine exports, Seafood Exporters Association of India sources said. The general consensus seems to be that global warming and migration of fish stocks is beginning to impact India’s catch.
Scientists have reported that several of the more abundant and popular fish stocks have been moving up from the Malabar to the Konkan coast and even further up to the Gujarat coast. This has begun to take a toll on the fish catch and landings which is now getting reflected in the export sector.
Source : Business Line