India’s marine products’ export falls 10 percent
January 20th, 2009 - 3:55 pm ICT by IANSBhubaneswar, Jan 20 (IANS) India’s marine product export earnings declined at least 10 percent last year following a slump in demand triggered by the global financial meltdown, a senior industry official here said.“The export scenario does not appear encouraging. Prices of marine products have come down due to a fall in demand in the international markets,” Marine Product Export Development Authority (MPEDA) chairman G. Mohan Kumar told reporters here.
With earnings falling 10 percent to $1.9 billion, Kumar feared the worst was still to come. He, however, added that in rupee terms, revenue has risen three percent due to the depreciation of the Indian currency against the dollar.
MPEDA is India’s nodal agency for the regulation, development and promotion of marine products export.
Of the total exports, European Union countries accounted for 35 percent, Japan 16 percent and the US 13 percent. India’s share in global marine product market is about two percent, Kumar said.
In 2008, about 540,000 tonnes of marine products were exported, reflecting a 10 percent decline, with shrimp contributing more than 52 percent in terms of value, he added.
- India's marine products export rises to $2.8 bn - Aug 26, 2011
- Aqua business opportunities on display at Chennai. - Feb 10, 2011
- Exports held out despite slowdown but outlook cloudy (2011 in Retrospect) - Dec 25, 2011
- India's seafood exports cross $2 bn for first time - May 18, 2010
- MPEDA, SYSCO signs agreement to promote Indian Black Tiger Shrimps - Oct 05, 2009
- Weak rupee brings cheer to seafood industry - Nov 22, 2011
- Exports rise 54 percent in March, fall for whole fiscal (Lead) - May 06, 2010
- Exports jump 54 percent in March; dip 4.7 percent for 2009-10 - May 10, 2010
- India's IT industry bets on growth despite uncertainty - Jan 08, 2012
- India's forex reserves drop by $326 mn - Nov 20, 2011
- Reliance Industries plans major capacity expansion - Apr 13, 2011
- Downturn temporary, return to high growth soon: Pranab - Dec 14, 2011
- Government offers Rs.1,700 crore sops to boost exports - Oct 13, 2011
- Depreciating rupee boon for Indian manufacturing exporters - May 29, 2012
- India's black tiger shrimp to get image makeover in US - Oct 05, 2009
Tags: decline, depreciation, european union, european union countries, export development authority, export earnings, financial meltdown, India, indian currency, international markets, japan, mohan kumar, mpeda, nodal agency, product export, rupee terms, shrimp, slump, tonnes