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HomePosts Tagged "Marine Products Export Development Authority (MPEDA)"
Acquaculture, AgroPolicy, India, Live Stock, Trade

The reduction in import duties on various ingredients /inputs for manufacture of prawn and shrimp feed/fish feed announced in Budget 2024-25 will help in increase of exports.

As a result of the various efforts made by the Government, India’s seafood exports have increased from Rs. 46,662.85 Crore in 2019-20 to Rs. 61043.68 Crore in 2023-24 registering a growth of 30.81 per cent.

The Government regularly monitors and reviews export performance, including that of marine products, along with export promotion bodies and the Indian missions abroad with the objective of enhancing exports vis-a-vis previous year. Internal targets are used for monitoring purpose only, and have been fixed at USD 7.86 billion for 2024-25.

The Government through Marine Products Export Development Authority (MPEDA), a statutory organization under administrative control of Department of Commerce provides assistance for upgrading the infrastructure facilities for value addition, establishing testing laboratories, participating in international trade fairs, and providing technical assistance for aquaculture production meant for exports, etc.

The reduction in import duties on various ingredients /inputs for manufacture of prawn and shrimp feed/fish feed announced in Budget 2024-25 will make Indian seafood-based value-added products more competitive in international markets and help in increase of exports. The reduction of import duties include from 15 per cent to Nil on Fish lipid Oil (HS 1504 20) & Algal prime (flour) (HS 2102 2000) , from 5  per cent to Nil on Krill meal (HS 2301 20), Mineral and Vitamin Premixes (HS 2309 90 90), from 30 per cent to Nil on Crude Fish Oil, from 15 per cent to 5 per cent on Prawn and shrimps feed (2309 90 31) and fish feed (2309 90 39), from 30 per cent to Nil on pre-dust breaded powder.

The Government has also increased the Remission of Duties and Taxes on Export Products (RoDTEP) from 2.5 per cent to 3.1 per cent for various seafood products and with maximum value cap per kg increased to Rs. 69.00, which will also encourage export of such products.

Furthermore, the Department of Fisheries, Govt. of India is implementing flagship scheme namely Pradhan Mantri Matsya Sampada Yojana (PMMSY) with an investment of Rs 20050 crore in fisheries sector for a period of 5 years i.e. FY 2020-21 to FY 2024-25 with an objective of promoting exports from the fisheries sector. The scheme intends to address critical gaps in fish production and productivity, quality of catch/harvests, technology infusion, post-harvest infrastructure, modernization and strengthening of value chain, reduction of post-harvest losses, traceability etc. Since 2020-21, the Department of Fisheries, Government of India has approved proposals to the tune of Rs. 1283.47 crore for development of cold chain infrastructure under PMMSY which includes construction of 586 cold storages, modernization of 78 cold storages/ice plants and 26588 post-harvest transportation facilities.

This information has been provided by the Union Minister of State for Commerce and Industry, Jitin Prasada in a written reply in the Rajya Sabha.

The reduction in import duties on various

Acquaculture, Agribusiness, India, Trade

Major export items include frozen shrimp and frozen fish; US & China remain top export destinations.

India’s seafood exports touched an all-time high in volume during the financial year 2023-24 despite various challenges in significant export markets. India shipped 17,81,602 MT of seafood worth Rs 60,523.89 crore (US$7.38 billion) during 2023-24.

Frozen shrimp remained the major export item in quantity and value, while the USA and China became the major importers of India’s seafood. During FY 2023-24, the export improved in quantity terms by 2.67 per cent. In 2022-23, India exported 17,35,286 MT of seafood worth Rs 63,969.14 crore (US$8,094.31million).

“India recorded an all-time high export in terms of volume by shipping 17,81,602 MT of seafood worth US$ 7.38 billion, despite the several challenges in its major export markets like the USA, EU & the UK,” D V Swamy IAS, Chairman, Marine Products Export Development Authority (MPEDA), said.

Frozen shrimp, which earned Rs 40,013.54 crore (US$4881.27million), retained its position as the top item in the seafood export basket, accounting for a share of 40.19 per cent in quantity and 66.12 per cent of the total dollar earnings. Shrimp exports during the period increased by 0.69 per cent in quantity terms.

The export of frozen shrimps during 2023-24 was pegged at 7,16,004 MT. The USA, the largest market, imported 2,97,571 MT of frozen shrimp, followed by China (1,48,483MT), the European Union (89,697 MT), Southeast Asia (52,254MT), Japan (35,906MT), and the Middle East (28,571 MT).

The export of black tiger (BT) shrimp increased by 24.91 per cent, 11.33 per cent and 8.28 per cent in quantity, value and US$ terms, respectively, in 2023-24. BT shrimps were exported to the tune of 38,987 MT worth Rs 2855.27 Cr (US$347.84 million).  China (including Hong Kong) turned out to be the major export destination for black tiger shrimp with a share of 28.43 per cent in terms of US$ value, followed by the USA (18.21 per cent), European Union (18.06 per cent) and Japan (13.12 per cent).  Scampi exports have shown a positive trend of 6.42 per cent, 23.22 per cent and 18.96 per cent in quantity, value and US$ terms, respectively, in 2023-24. The Vannamei shrimp exports have grown in 2023-24 by 0.33 per cent by volume; however, they declined by 11.56 per cent from US$ 4809.99 million to US$ 4253.86 million.

Major Export Destinations

As for overseas markets, the USA continued to be the major importer of Indian seafood in value terms, with an import worth US$2,549.15 million, accounting for a share of 34.53% in terms of US$ value. Exports to the US increased by 7.46 per cent and 1.42 per cent in quantity and value ₹ terms; however, they declined by 3.15 per cent in US$ terms. Frozen shrimp continued to be the principal item exported to the US, with a share of 91.90% in US terms. Exports of black tiger shrimp to the US increased by 35.37 per cent in quantity terms and 32.35% in value in US terms.

China (excluding Hong Kong and Taiwan) emerged as the second largest seafood export destination country for India in terms of US$ with an import volume of 4,51,363 MT worth US$1,384.89 million, accounting for 25.33 per cent share in quantity and 18.76 per cent in US$ terms. Exports to China grew by 12.80% in quantity; however, they declined by 0.88% in ₹ value and 4.21% inUS$ value. Frozen shrimp, the major item of exports to China, had a share of 32% in quantity and 55.11 per cent in US$ value, while frozen fish had a second most share of 36.83% in quantity and 21.56% in terms of US$ value out of the total exports to China.

Japan is the third largest importer, with a share of 6.06 per cent in quantity and 5.42 per cent in US$ value terms. Frozen shrimp continued to be the major item of exports to Japan, with a share of 33.26% in quantity, 65.94% in ₹, and 65.98 percent in US$ value.

Vietnam holds the fourth largest market position, importing 1,32,086 MT worth US$ 391.41 million. Frozen shrimp dominates the import with a share of 55.43% in US$ earnings and 30.11% in quantity, followed by dried items.

Thailand is the fifth largest market, with a US$ share of 3.82 per cent and a third-place position by volume (7.77 per cent share), with 1,38,457 MT worth US$ 281.97 million. Frozen fish remained the significant item exported to Thailand, accounting for a share of 44.37 per cent in US$ earnings and 63.91 per cent in quantity.

Major export items include frozen shrimp and