Marine Exports from India: Attaining a Record High

Marine Exports from India: Attaining a Record High

Question : During the financial year 2014-2015, exports of marine products reached an all time high. Discuss this major milestone in international trade relations.

- During 2014-2015, exports of marine products have attained an all time high of USD 5511.12 million

- Marine exports have crossed previous records in quantity, rupee value and USD terms

- Exports aggregated to 10,51,243 MT valued at INR 33,441.61 and USD 5511.12 million

- Seafood exports have recorded a growth of 6.86% in quantity, 10.69% in rupee and 10.05% in terms of USD earnings

- Frozen shrimp is the major export item in the export basket as far as quantity and value are concerned

- It accounts for 34.01% in quantity and 67.19% in terms of total USD earnings

- Shrimp exports at this point increased by 18.60 in quantity, 16% in rupee value and 15.54% in USD

- Unit value realisation lowered to 10.38 USD/kg from 10.65% in 2013-2014 which is a negative growth of 2.59%

- US was the largest market for shrimp exports in quantity terms followed by the EU, SE Asia and Japan

- During 2014-2015, shrimp aquaculture has attained tremendous growth and the highest production

- Major shrimp producing states include Andhra Pradesh 2,79,727 MT (+31%), Tamil Nadu 32,785 MT (+20%), Gujarat 30156 MT (+182%), Maharashtra 4426 MT (+113%), Orissa 22539 MT (+56.13%).

- Fish is the second largest item to be exported accounting for 29.44% in quantity and 11.24% in USD trms

- While there was a growth in export of frozen cuttlefish, export of frozen squid showed a negative growth

- Dried items found positive growth in terms of quantity and rupee, but negative in terms of USD

- Live items exports rose by 8.03%, 6.97% and 2.25% in terms of quantity, rupee and USD realisation

- Export of value added products during 2014-2015 have risen to 95,436 MT from 84,549 MT

- EU is the biggest destination for these products while US is the largest market for Indian seafood products with a share of 26.46% in USD terms followed by S.E.Asia(25.71%), EU(20.08%), Japan(9.11%), other nations (8.58%) Middle East(6.04%) as well as China (4.02%)

- Exports to the US have registered an increase of 16.94% in quantity and 13.39% in USD realisation

- Exports to S.E Asian nations has shown positive growth by around 7.86%, 7.14% and 7.26% with respect to quantity, rupee value and USD terms

- Exports to the EU have displayed a growth in terms of 7.64%, 9.56% and 9.22% as far as quantity, rupee and USD are concerned

- Export to Japan noted an increase of 22.23% in USD terms.

- Export to Middle East nations has shown positive growth of 11.32%, 26.35% and 22.17% in terms of Quantity, Value and USD terms respectively.

- Export to China fell drastically and exports registered negative growth of 21.46%, 23.64% and 24.45% in terms of quantity, rupee value and US dollar terms.

Facts and Stats

- Exports improved from Vizag, Kochi, JNP, Calcutta, Tuticorin, Krishnapatnam, and Mangalore compared to the corresponding period during the last year.

- Pipavav is the major port for quantity (25.27%) and Vizag is the major port in value of USD (22.59%).
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