Indian Seafood industry is expecting at least 15% growth this fiscal as it is poised to benefit from the shortage in the global marine products market because South East Asian countries are yet to recover from the disease attack in the farms. India suffered a setback in 2015-16 when the seafood exports fell 10-15% % due to a production dip and sluggish prices. But now prices have improved encouraging the producers to increase supply. “Till a few months back the industry was not bullish. But the present trend is encouraging for India with other seafood producing regions under stress. Even a major supplier like Ecuador, which was hit by an earthquake, may not achieve regular volume growth. The export may go up by 15% to 20% from a year ago,” said Rahul Kulkarni, director of WestCoast group, a major exporter. India is currently a major supplier of Vannamei shrimp to US and South East Asian countries. In 2015-16, aquaculture production in the country dropped below 4 lakh tonnes as the prices fell. Scattered occurrence of diseases also hit the supply. This year, so far, the prospects have been good. “This time, judging from the first harvest, aquaculture shrimp production should cross 4 lakh tonnes. Farms in some regions like Gujarat, West Bengal, Odisha and West Godavari are doing well,” said S Muthukaruppan, former president of Society of Aquaculture Professionals, adding that the farms have also been free from diseases.
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