Share of shrimps in the Indian seafood export basket jumped from around 52% to nearly 70% as the country capitalises on the increased demand resulting from the global shortage of farmed shrimps due to spread of a disease in the farms of South East Asia.
Half-yearly export figures show close to 40% increase in export earnings at Rs 11,923 crore. The aquaculture production, particularly of vannamei shrimp, in farms in the eastern coast, has gone up to meet the rising requirement.
The US continues to be the largest buyer with 32% share. If the current growth is sustained, then Indian marine products export may surpass its target of $4.3 billion. An attack of early mortality syndrome in aquaculture farms in Thailand, China and Vietnam has led to depletion of shrimp stock in the world market.
Shortage has triggered an upswing in the price of vannamei shrimp which is much in demand. "The price of 30 count stock of vannamei has doubled to $10 a kg. It is mainly going to the US, South East Asia and Europe. The winter purchases for Christmas and New Year are getting over," said Anwar Hashim, managing director of Abad Fisheries.
The farms are producing more vannamei than black tiger prawns. The farmed shrimp production is expected to touch 3 lakh tonne this year. "The good production in the farms and the rising demand has helped exports considerably. If we clock around 30% growth, then we should comfortably reach the targeted $4.3 billion for 2013-14," said a senior officer of Marine Products Export Development Authority (MPEDA).
Depreciation of rupee too has aided seafood export. The US' final decision not to impose countervailing duty on Indian shrimps after the Coalition of Gulf Shrimp Industries filed a petition complaining that subsidies in India enabled the exporters to sell shrimp at lower prices, may give a further boost to exports to the US.
Seafood exporters say the annual seafood export will touch around $4.5 billion.
