INDIRECT TAXES
| Marine exports set a record Sun, 06 Mar 2011 |
| KOCHI: Marine export business in India successfully negotiated a host of hurdles, including collapse of the Greek, Spanish and Portuguese economies, to put up record performance during the first nine months of the current financial year, said a press release from Marine Products Export Development Authority (MPEDA). The Indian marine export business also beat a stronger Rupee against the Euro and the U.S. Dollar to grow 6.60 per cent in volume and cross the $2 billion-mark in earnings between April and December 2010. “This is the first time in the history of the marine products industry that we are crossing the $2-billion mark within the first 9 months of a financial year,” the press release said. Exports during April-December 2010-11 stood at 5,47,249 tonnes compared to 5,13,373 tonnes during the same period in the previous financial year. Value in rupee terms increased to Rs.9,187 crore compared to Rs.7,725 crore and dollar earnings went up to $2,028 million against $1,626 million. “From the provisional figures available, marine products export crossed $2.13 billion record of 2009-10 during the first 10 months of 2010-11,” the press release added. Frozen shrimp continued to be the major export item accounting for 48.61 per cent of the total U.S. dollar earnings. Shrimp exports during the period increased 12.54 per cent; 33.94 per cent and 40.72 per cent in quantity, rupee value and U.S. dollar value respectively. There is considerable increase in unit value realization (25.04 per cent) too, the press release added. Export of frozen shrimp to the U.S. registered a growth of 88.12 per cent in volume and 149.05 per cent in terms of U.S. dollars. Frozen shrimp export to Japan too showed an increase of 23.55 per cent; 42.74 per cent and 50.74 per cent in volume, rupee value and US dollar value respectively. Export of Vannamei shrimp had picked up. The country exported about 7,363 tonnes of Vannamei during the period under review. Fish, the principal export item in quantity terms and the second largest export item in value term, accounted for more than 36 per cent in quantity and 18.33 per cent in U.S. dollar earnings showed a decline of 3.36 per cent in quantity when compared to the last year. |
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