Speed Post News Network
New Delhi : Riding on a robust demand for its frozen shrimp and frozen fish in international markets, India exported 11,34,948 MT of seafood worth an all time high of US$ 5.78 billion (Rs 37, 870.90 crore) in 2016-17 as against 9,45,892 MT and 4.69 billion dollars a year earlier, with USA and South East Asia continuing to be the major importers while the demand from the European Union (EU) grew substantially during the period.
Frozen shrimp maintained its position as the top item of export, accounting for 38.28 % in quantity and 64.50 % of the total earnings in dollar terms. Shrimp exports increased by 16.21 % in terms of quantity and 20.33 % in dollar terms. Frozen Fish was the second largest export item, accounting for a share of 26.15 % in quantity and 11.64 % in dollar earnings, registering a growth of 26.92 % in terms of value, according to a PIB release.
“Increased production of L Vannamei, diversification of aquaculture species, sustained measures to ensure quality, and increase in infrastructure facilities for production of value added products were largely responsible for India’s positive growth in exports of seafood,” said Nirmala Sitharaman, Minister for Commerce and Industry, according to the PIB release.