India: Seafood exports to China have seen a 40% decline during April-December of FY21

Published 2021년 3월 12일

Tridge summary

The Indian seafood industry has been significantly impacted by the Covid-19 pandemic, with exports experiencing a decline in both volume and value. The Marine Products Export Development Authority (MPEDA) has reported a 20.54% decrease in volume, 13.32% decrease in rupee value, and 17.01% decrease in US$ earnings for the first eleven months of FY 2020-21 compared to the same period in the previous year. The industry's challenges include reduced demand from China due to high inventory levels and strict Covid-19 measures, fluctuating marine fish landings, and a marginal increase in shrimp production. Despite these challenges, India's seafood branding efforts have seen some success, with a presence in over 100 countries, primarily through other brands. The MPEDA is implementing quality initiatives and promoting value addition in seafood exports.

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Original content

India accounts for nearly 6% of the global fish production and is the largest producer of shrimps. In the previous fiscal, India exported 12,89,651 tonnes of seafood worth $6.68 billion. In an interview with FE’s Rajesh Ravi, KS Srinivas, chairman of the Marine Products Export Development Authority (MPEDA), talks about the impact of the Covid-19 on the seafood sector, and its outlook. Excerpts:Has the pandemic impacted seafood exports? Could you give us an idea about the exports in the current fiscal?The cumulative exports during April to January in FY 2020-21 has shown a decline of 20.54% in volume, 13.32% in rupee value and 17.01% in US$ earnings compared to the same period last year.How are seafood exports to China in the current fiscal? There are reports of containers being held up in Chinese ports and payment issues.In value terms (US$), exports to China have seen a 40% decline during April-December of FY21, while volume is seen lower by 36%. The seafood inventory levels in ...

Source: Financialexpress