Breaking News

You are here » Indian-Commodity  :  Commodities  :  Other Commodities  :  Exports of marine products likely to rise by 20% to $5.6 billion in 2016-17


Exports of marine products likely to rise by 20% to $5.6 billion in 2016-17

The exports of marine product from India is projected to increase nearly by 20% to $5.6 billion in 2016-17, particularly with strides in aquaculture diversification, quality control, value addition and improved production infrastructure. The Marine Products Export Development Authority (MPEDA), the broad fisheries sector coordinating agency under the Ministry of Commerce, expects the industry will reverse the decline from last fiscal when total seafood exports stood at 945,892 MT worth $4.7 billion.

The USA and South East Asia are the major importers of Indian seafood and frozen shrimp continued to be the major export item last year, followed by frozen fish.  Small and marginal farmers in India, who contribute to the bulk of coastal aquaculture are organizing to stave off competition from countries such as Thailand and Vietnam by boosting production and adopting global standard marketing strategies such as certification, traceability and eco-labeling.

Besides, MPEDA is actively supporting shrimp culture through cluster farming approach. More than 10,000 farmers have been organized into aquasocieties that implements Better Management Practices.

Related News

View all news

Nickel futures edge lower on subdued demand

Nickel futures edged lower on MCX as participants cut down their bets, tracking subdued demand from alloy-makers at the domestic spot market. The contract for February delivery was trading at Rs 889.40,......

Barley futures trade slightly lower on NCDEX

Barley futures traded slightly lower on NCDEX, due to decreasing demand in domestic spot markets. Meanwhile, Saudi Arabia's barley imports are estimated to have decreased about half a million tonnes, due......

Nickel futures trade lower on easing demand

Nickel futures traded lower on MCX as participants trimmed their holdings amid easing demand from alloy-makers and other consuming industries at the spot market.The contract for February delivery was trading......

Top News

View all news

Sadbhav Infrastructure emerges lowest bidder for Vadodara Kim Expressway Project

Sadbhav Infrastructure has been declared L-1 (Lowest) bidder by the National Highways Authority of India (NHAI) for new Hybrid Annuity Project in the State of Gujarat.The Project is for the construction......

Tribhovandas Bhimji Zaveri opens 37th store in Pune

Tribhovandas Bhimji Zaveri has opened its 37th store at Unit No. UG-71, Phoenix Market City Mall, Viman Nagar, Pune, in state of Maharashtra on March 17, 2018.Tribhovandas Bhimji Zaveri, a well-known jewellery......

DHFL planning to raise funds through NCDs

Dewan Housing Finance Corporation (DHFL) is planning to raise funds through Non-Convertible Debentures (NCDs). The company has proposed to issue Secured Redeemable NCDs amounting to Rs 300 crore and a......