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TMI BlogIndia’s Seafood Export at all-time High in 2016-17 :MPEDAX X X X Extracts X X X X X X X X Extracts X X X X ..... India’s Seafood Export at all-time High in 2016-17 :MPEDA - News and Press Release Dated:- 7-6-2017 - News - 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 tons 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 per cent in quantity and 64.50 per cent of the total earnings in dollar terms. Shrimp exports increased by 16.21 per cent in ter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ms of quantity and 20.33 per cent in dollar terms. Frozen Fish was the second largest export item, accounting for a share of 26.15 per cent in quantity and 11.64 per cent in dollar earnings, registering a growth of 26.92 per cent in terms of value. USA imported 1,88,617 MT of Indian seafood, accounting for 29.98 per cent in terms of dollar. Export to that country registered a growth of 22.72 per cent, 33 per cent and 29.82 per cent in terms of quantity, value in rupee and US dollars, respectively. South East Asia remained the second largest destination of India s marine products, with a share of 29.91 per cent in dollar terms, followed by the EU (17.98 per cent), Japan (6.83 per cent), the Middle East (4.78 per cent), China (3.50 per cen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t) and other countries (7.03 per cent). Overall, exports to South East Asia increased by 47.41 per cent in quantity, 52.84 per cent in rupee value and 49.90 per cent in dollar earnings. 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 Mrs. Nirmala Sitharaman, Minister for Commerce and Industry. The overall export of shrimp during 2016-17 was pegged at 4, 34,484 MT worth USD 3,726.36 million. USA was the largest import market for frozen shrimp (1, 65,827 MT), followed by the EU (77,178 MT), South East Asia (1, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 05,763 MT), Japan (31,284 MT), Middle East (19,554 MT), China (7818 MT) and other countries (27,063 MT). The export of Vannamei shrimp, a major seafood delicacy, improved from 2, 56,699 MT to 3,29,766 MT in 2016-17, registering a growth of 28.46 per cent in quantity. In value terms, 49.55 per cent of total Vannamei shrimp was exported to USA followed by 23.28 per cent to South East Asian countries, 13.17 per cent to the EU, 4.53 per cent to Japan, 3.02 per cent to the Middle East and 1.35 per cent to China. Japan was the major market for Black Tiger shrimp with a share of 43.84 per cent in terms of value, followed by USA (23.44) and South East Asia (11.33). Frozen shrimp continued to be the principal export item to USA with a share o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f 94.77 per cent in dollar value while Vannamei shrimp to that country showed an increase of 25.60 per cent in quantity and 31.75 per cent in dollar terms. Vietnam, with a share of 76.57 per cent in value (US dollar), was the major South East Asian market for Indian marine products, followed by Thailand (12.93 per cent), Taiwan (3.88 per cent), Malaysia (2.60 per cent), Singapore (2.21 per cent), South Korea (1.50 per cent) and other countries (0.30 per cent). Vietnam alone imported 3, 18,171 MT of Indian seafood, the quantity being much more than that of any other individual markets like US, Japan or China. The EU continued to be the third largest destination for Indian marine products with a share of 16.73 per cent in quantity. Froz ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en shrimp was the major item of exports, accounting for 40.66 per cent in quantity and 55.15 per cent in dollar earnings out of the total exports to the EU. Exports of Vannamei shrimp to the EU improved by 9.76 per cent in quantity and 11.40 per cent in dollar value. Japan, the fourth largest destination for Indian seafood, accounted for 6.83 per cent in earnings and 6.08 per cent in quantity terms. Frozen shrimp continued to be the major item of exports to Japan with a share of 45.31 per cent in quantity and 77.29 per cent in value out of the total exports to that country. Besides frozen shrimp and frozen fish, India s other major seafood product was frozen squid, which recorded a growth of 21.50 per cent, 59.44 per cent and 57 per c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent in terms of quantity, rupee value and dollar earnings, respectively. Export of frozen cuttlefish showed a decline in quantity terms, but increased in the rupee value and dollar terms by 18.85 per cent and 16.95 per cent, respectively. Dried items registered a growth of 40.98%, 20.14% 79.05% in terms of quantity, rupee value and dollar terms, respectively. Indian ports handled a total marine cargo of 11,34,948 tons worth ₹ 37,870.90 crore (5,777.61 million dollars) in 2016-17 as compared to 9,45,892 tons worth ₹ 30,420.83 crore (4,687.94 million dollars) in 2015-16. Vizag, Kochi, Kolkata, Pipavav and Jawaharlal Nehru Port (JNP) were major ports that handled the marine cargo during 2016-17. Exports improved from Vizag, Ko ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... chi, Kolkata, Pipavav, JNP, Krishnapatanam and Tuticorin as compared to 2015-16. Vizag port exported 1,59,973 tons of marine cargo worth ₹ 9,294.31 crore (1,401.94 million US dollars) in 2016-17 as compared to 1,28,718 tons worth ₹ 7,161 crore (1,105.76 million dollars) in 2015-16. Vizag port was followed by Kochi (1,55,989 tons, ₹ 4,447.05 crore), Kolkata (1,04668 tons, ₹ 4,451.67 crore), Pipavav (2,32,391 tons, ₹ 4,217.45 crore), JNP (1,49,914 tons, ₹ 4,084.96 crore), Krishnapatnam (62,049 tons, ₹ 3,701.63 crore), Tuticorin (42,026 tons, ₹ 2,220.52 crore), and Chennai (37,305 tons, 1,693.87 crore). - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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