Seafood exports hit record high of over $3.5 bn

New Delhi, Aug 7 (IANS) India's marine products exports touched a record high of Rs.18,856 crore ($3,511.67 million) in 2012-13.

Minister of State for Commerce D. Purandeswari informed parliament in a written reply Wednesday that the country's seafood exports in 2012-13 rose 7.68 percent compared to the previous year with exports aggregating 928,215 tonnes. This was a 13.61 percent growth in rupee and 0.1 percent growth in US dollar terms, respectively.

According to the Marine Products Export Development Authority (MPEDA), higher production and export of shrimp and chilled items were responsible for exports reaching a new high.

Southeast Asia continued to be the largest buyer of Indian marine products with a share of around 23 percent. The European Union is the second largest market, followed by the US, Japan, China and the Middle East.