Seafood exports from the country could exceed $6 billion in the current fiscal driven by demand for Indian shrimps in the global market. In 2016-17, India exported $5.78 billion (Rs 37,871 crore) worth of marine products.
Cultured shrimps account for about 70% of the value of the exports and there has been increased interest in the farming of the shrimps, particularly the Vannamei variety, which has most demand in the market now.
"Our shrimps are enjoying good acceptan ..
However, the prices of Indian shrimps have been slightly less than last year. The price for 30-count shrimps is around Rs 420 per kg. "This is about Rs 20- 30 per kg lower than last year. But the rates will go up as the harvests get over," Muthukaruppan said.
Andhra Pradesh, West Bengal and Gujarat have added more farms this year. In Gujarat, more harvests are due and the factories are not yet running to full capacity.
The only worry for the exporters seems to be the rupee-dollar rate. "Last year, one dollar was Rs 67 and now it is about Rs 64-65. This could bring down the rupee realisation," said M Nagesh, finance director of Nekkanti Sea Foods Ltd.