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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.

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