Post News Network
Bhubaneswar, April 15: Seafood exports from Orissa may report 10-12 per cent degrowth during 2015-16 due to prolonged stagnancy in international prices amid economic slump in major importing nations. “Seafood exports from the state may see 10-12 per cent de-growth due to flat international prices,” Director General of Utkal Chambers of Commerce and Industry (UCCI), Rajen Padhi told Orissa POST here. Giving the reasons for such degrowth, he said, “Countries which are leading importers of seafood have faced slowdown due to which exports from the state have declined,” he added.
He, however, added that exports are likely to see 20 per cent rise in quantity term for the current financial year due to rising production of various aquaculture products in the state. In price term, though, there are less chances of improvement as major importing countries like US and China are yet to recover from such economic slump. The US is the largest market for Indian seafood products with a share of 26.46 per cent in dollar terms in 2014-15, followed by South East Asia (25.71 per cent), and European Union (20.08 per cent). The state had recorded 26 per cent growth in seafood exports to around Rs 2,300 crore during 2014-15, making it the highest in percentage terms in the country. In 2013-14, the state earned Rs 1,800 crore from export of marine products. On the back of these encouraging growth figures, the state government has set an ambitious target to increase the exports of marine products to Rs 10,000 crore in next three years. Meanwhile, some analysts have raised concerns over the fall in exports of frozen shrimps due to rise in diseases. Frozen shrimp is the major contributor to marine exports basket in the country.
