India's marine product exports fetch a record $5.5 bn in FY15

Export of marine products from the country reached an all-time high of $5.51 billion during the financial year 2014-15, helped by both higher quantity and an increase in rupee value.

Marine product exports during the year aggregated to 10,51,243 tonnes, valued at Rs33,441.61 crore ($5.51 billion), a 6.86 per cent growth in quantity and a 10.69 per cent growth in rupee value and a 10.05 per cent growth in dollar earnings, compared to the previous year.

However unit value realisation decreased to $10.38 per kg from 10.65 per kg in 2013-14, a negative growth of 2.59 per cent.

Frozen shrimp continued to be the major export item in the export basket in terms of quantity and value, accounting for a share of 34.01 per cent in quantity and 67.19 per cent of the total dollar earnings. Shrimp exports during the period increased by 18.60 per cent, 16 per cent and 15.54 per cent in terms of quantity, rupee value and dollar earnings, respectively.

Overall export of shrimp during 2014-15 stood at 3,57,505 tonnes worth $3.71 billion. United States remained the largest market, accounting for 1, 12,702 tonnes of frozen shrimp exports in quantity terms followed by European Union (81,952 tonnes), South East Asia (69,068 tonnes) and Japan (30,434 tonnes).

The contribution of cultured shrimp to the total shrimp export stood at 76.45 per cent in terms of dollar. The export of cultured shrimp has shown positive growth of 21.66 per cent in quantity and 15.53 per cent in dollar terms.

During 2014 -15 shrimp aquaculture has shown a tremendous growth (30.64 per cent) and achieved highest production (4,34,558 tonnes). Production of L. Vannamei increased by 41 per cent to 3,53,413 tonnes. Black Tiger production remained stagnant at 71,400 tonnes. Scampi production increased by 32 per cent to 7,989 tonnes. 

Major shrimp producing states have shown positive growth - Andhra Pradesh 2,79,727 tonnes (+31 per cent), Tamil Nadu 32,785 tonnes (+20 per cent), Gujarat 30,156 tonnes (+182 per cent), Maharashtra 4,426 tonnes (+113 per cent), Orissa 22,539 tonnes (+56.13 per cent).

The export of Vannamei has shown positive growth of 2,22,176 tonnes from 1,75,071 tonnes and $2.37 billion from $1,99 billion, compared to 2013-14. The export of Vannamei recorded a growth of 26.90 per cent in quantity and 18.98 per cent in dollar terms. About 42.77 per cent of total Vannamei shrimp was exported to the US, followed by 20.46 per cent to South East Asian countries,  17.45 per cent to EU, 4.55 per cent to the Middle East and 4.18 per cent to Japan in terms quantity.

Export of Black Tiger shrimp has picked up from negative growth during 2013-14 to a positive growth of 0.64 per cent during 2014-15.

Unit value realisation plummets
The downward trend in unit value realisation for L.Vannamei in the US and other markets started during December 2014. The price has dropped from $7.60 per pound during November 2014 to $6.95  per pound during December 2014.  The trend continued till the end of March 2015. It has recorded lowest of $5.90 pound during March 2015.

Even though export of total shrimp increased by 18.61 per cent in quantity, dollar value realisation has recorded only 15.55 per cent increase.

Fish, the second largest export item, accounting for a share of about 29.44 per cent in quantity and 11.24 per cent in dollar earnings, however, showed negative growth of 4.60 per cent, 12.02 per cent and 12.55 per cent, respectivrely, in terms of quantity, rupee value and dollar earnings. Unit value realization of frozen fish also decreased by 8.34 per cent..

Export of frozen cuttlefish recorded a growth of 20.09 per cent in quantity, 32.17 per cent in rupee value, and 31.81 per cent in dollar terms. Unit value realisation also increased by 9.76 per cent. Export of frozen squid has shown negative growth of 20.44 per cent, 26.37 per cent and 26.27 per cent in terms of quantity, rupee value in and dollar earnings. It has also shown decrease in unit value realisation by 7.33 per cent.

Dried item have shown a 3.89 per cent growth in terms of quantity and in 1.22 per cent growth in rupee terms, but it has shown negative growth of -1.41 per cent in dollar terms.

Live items exports have increased by 8.03 per cent, 6.97 per cent and 2.25 per cent in quantity, rupee value and dollar realisation, respectively, compared to the previous year. Chilled items have shown a 59 per cent increase in quantity.

Unit value realisation declined by more than 25 per cent.

Other items like Surimi and Analogue products have shown a growth of 14.41 per cent, 31.75 per cent and 29 per cent in terms of quantity, rupee value and dollar terms.

Export of value added products during 2014-15 increased to 95,436 tonnes from 84,549 tonnes, showing a growth of 12.88 per cent and to $746.59 million from $634.67 million (growth of 17.63 per cent). The major contributor to the export of value added item was value added shrimp with a share of 63.54 per cent in quantity terms and 75.37 per cent in dollar terms.

EU has been the biggest destination for the value added items. About 42.06 per cent of total value added products were exported to the EU during 2014-15 in terms of quantity and 32.82 per cent in terms of dollar value, followed by the US, South East Asia, Middle East, China and Japan.

The share of value added products to the total export stood at 9.07 per cent in quantity terms and 13.54 per cent in dollar terms.