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In 2015-16 Seafood exports from India declined by 9% to Rs 30,421 crore

Seafood exports from India

In 2015-16, The seafood export has declined by 10% in quantity and 9% in value from India, as compared to last year. According to research, India has exported 945892 tons valued at Rs 30,420.83 crore. Prices of frozen shrimp slipped to $8.28 per kilogram from $10.38 per kg in 2014-15.

Majorly India exported seafood to followed by South East Asia ( 24.65% ), USA ( 28% ) and then European Union ( 21% ). the most popular one is Vannamei among frozen shrimps.

Why to decline in Seafood exports from India? know the reason:

  • The main reason for the decrease is now shrimped aquaculture production started by Thailand and Vietnam, which resulted, reduced the prices of shrimp in the international market and better supply in the market.
  • Another reason for the decline in exports is Weaker economic condition in China & devaluation of Chinese currency.
  • Europe export affected by Depreciation of the euro.
  • The next reason is Decline in capture fishery. Seafood export from India dropped by 10.5 percent in 2015, The shrimp, which accounts for 66% value-wise of total seafood export at 3,48,296 tons from the previous year.
  • With the exportation of seafood from India, major part exported from Visakhapatnam, then from Kochi and in terms of quantity Pipavav takes the first position.
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