BANGKOK: Seafood exports from India are likely to increase 20 per cent in 2016-17, thanks to renewed global demand and addition of more areas for aquaculture. Exports from the country had declined in 2015-16 with the slowdown in global economies and better supply from competing countries such as Thailand and Vietnam. In dollar terms, the percentage of plunge in exports was about 15 per cent in 2015-16 compared to $5,511.12 million exports registered in 2014-15.
“Renewed global demand for disease-free, healthy shrimps from India, over southeast Asia, has made Indian shrimp exporters revise their projection for a year-on-year export revenue growth of 15-20 per cent in FY17. Even a few months ago, the industry was not so bullish about the new year and was expecting the downturn of last year to continue, primarily owing to lower production. Exports had dropped 10 per cent in the last financial year, pulled down by both production-related issues and lower prices,” said Rahul Kulkarni, director, WestCoast Group, seafood exporter.
Southeast Asian countries such as Vietnam, Thailand, Malaysia, Indonesia and China have been hit by diseases, labour and production issues. Thailand, which has been severely affected by diseases for the past several years, is also recovering from blacklisting by the US due to human rights abuses in seafood trade. These economies compete with India in exports.
