Indian seafood exports for FY18 may cross $6 bn

Posted by Daily Shipping Times on 01-02-2018        Tweet

NEW DELHI: Indian seafood exports for the current fiscal are expected to cross $6 billion due to favourable market conditions and increase in the shrimp production under aquaculture, State-run Marine Products Export Development Authority (MPEDA) said in a statement.

Provisional export figures during April-November 2017 have shown an increase of 18.72% and 15.16%, respectively in volume and value (in US dollar) of seafood exports, compared to the figures during the same period in 2016.

India’s seafood exports touched an all-time high of $5.78 billion (Rs 37,870.90 crore) in FY17 by exporting 11,34,948 tonne. India is the largest exporter of shrimps to the US and is a leading supplier of shrimps and cephalopods to the EU market, and among the largest suppliers of frozen shrimp to Japan and Vietnam, MPEDA sources added.