Indian seafood revenue may soften in FY19
KOCHI: After two years of robust growth, India’s seafood exports may ease in 2018-19 due to an increase in supply of shrimps, sluggish purchases by the US and the impact of higher anti-dumping duty, according to Crisil Research.
Growth in India’s seafood export revenue may drop to 17% to 18% in 2018-19, the research house said in its latest report. That compares with growth of 21% and 31% in the previous two financial years, which was triggered by a crunch in supply as production in China, Vietnam and Thailand was hit by early mortality syndrome disease.
Crisil said a spurt in supply following the increased production of vannamei shrimps in India and other key exporting countries and slower purchases by the US, a major importer, could crimp revenue this year.
Export realisation in dollar terms is expected to fall 10% this year. However, steady volume growth – at 20%-21% in the past couple of years – and expected depreciation in the rupee will limit the impact, it ..
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