May 16, 2024 | 12:45 GMT +7

  • Click to copy
Thursday- 10:14, 04/04/2024

India aims to expand seafood exports to $12 billion in two years

(VAN) India is aiming to expand its seafood exports to around $12 billion in the next two years from $8 billion currently, mainly by focusing on high-end markets including the United States and Europe.
Women clean prawns at a fish market amidst the spread of the coronavirus disease (COVID-19), in Mumbai.

Women clean prawns at a fish market amidst the spread of the coronavirus disease (COVID-19), in Mumbai.

India has emerged as the biggest supplier of seafood, particularly frozen shrimps, to the United States, with exports doubling over eight years to $2.6 billion in 2022/23, one of the officials at the Commerce Ministry told a small group of reporters.

Total frozen shrimp exports topped $5.6 billion in 2022/23, according to commerce ministry estimates.

"The government intends to focus on value addition and supply to high-end markets while creating awareness about good labour and environment practices among exporters," the officials said.

Shrimp farming has emerged as a big opportunity for nearly 200,000 workers, mainly women in the Southern states of Andhra Pradesh, the second official said, noting, however, that global demand could remain weak this fiscal year.

Both officials declined to be named as they were not authorised to speak to the media ahead of a general election which begins this month.

China, the European Union, South East Asia, Japan and Middle Eastern countries have also emerged as major markets for India's frozen shrimp, produced in village ponds. Other seafood like frozen fish, octopus and cuttlefish is also finding international buyers.

Responding to a report on exploitative labour practices of some shrimp exporters, released by the Chicago-based Corporate Accountability lab, a human rights legal group, officials said the allegations were "baseless" and possibly driven by trade rivalry with other countries and the U.S. industry.

Commerce ministry officials will meet seafood exporters and take up the issue with the state government to ensure all export houses meet the expectations of buyers and overseas consumers, the first official said.

To rule out any buyer concerns, the government could consider an independent study of the working conditions, he said.

Separately, the Federation of Indian Export Organisation (FIEO), the top exporter body, has said shrimp exporters were complying with food safety and quality norms to meet the requirements of importing nations including the U.S..

($1 = 83.4497 Indian rupees)

H.D

(Reuters)

Long-term study finds organic farming leads to adaptations in the genetic material in plants

Long-term study finds organic farming leads to adaptations in the genetic material in plants

(VAN) Plants adapt genetically over time to the special conditions of organic farming. This has been demonstrated in a long-term study conducted at the University of Bonn.

China increasingly relies on Russian poultry

China increasingly relies on Russian poultry

(VAN) Russia secured a spot among the top 3 largest poultry meat suppliers on the Chinese market in 2023.

Global spate of weather extremes precedes risky summer

Global spate of weather extremes precedes risky summer

(VAN) A string of unprecedented weather and climate events has struck multiple continents in recent weeks, killing hundreds and displacing many more.

FAO Regional Conference for Europe opens with focus on bolstering resilience of agrifood systems

FAO Regional Conference for Europe opens with focus on bolstering resilience of agrifood systems

(VAN) FAO Director-General urges peace and digitalization as central to achieving the SDG agenda.

EC approves acquisition of East Grain

EC approves acquisition of East Grain

(VAN) The European Commission has approved the acquisition of sole control of East Grain of Romania by Agrofert of Czechia.

Rabobank: Pork production returns to profitability

Rabobank: Pork production returns to profitability

(VAN) In its quarterly outlook, Rabobank noticed a “pivotal shift” as sow herd numbers appear to stabilise after a phase of reductions.

Food prices see first monthly rise in three months

Food prices see first monthly rise in three months

(VAN) Food prices have risen by 0.6% in April compared to March 2024.

Read more