Billion-dollar catch: India has the potential to create an IPL out of aquaculture
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India's seafood exports at current prices (in value terms) grew by 67.75% to $7.38 billion in 2023-24 from $5 billion in 2013-14. During the same period, the export of frozen shrimps, which are India's flagship seafood product, alone increased by 65.57%—rising from $3.2 billion to $4.88 billion—while the exports of other seafood items together grew just 38%—from $1.8 billion in 2013-14 to $2.5 billion in 2023-24.These data suggest that frozen shrimps will remain the flagship product of India's seafood exports for the foreseeable future. The key component that enables quick supply response to market demand is inventory, along with the ability to step up production on short notice. Indian farmed production of P. vannamei (Pacific white shrimp) increased from 1731 tonnes in 2009-10 to 815,745 tonnes in 2021-22. In contrast, the production of farmed P. monodon (black tiger shrimp) declined from 95,919 tonnes to 27,616 tonnes during the same period. This implies that around 8.5 lakh tonnes were available for the market in 2021-22. According to data from the Marine Products Export Development Authority (MPEDA), India exported 7.28 lakh tonnes of shrimp in 2021-22 and 7.16 lakh tonnes in 2023-24. Assuming 7 lakh tonnes are exported annually, the domestic market is left with 1 lakh tonne of farmed shrimp for local consumption. It is only the low-count shrimp that remains behind, serving the domestic market. Data also indicates that there has not been any notable increase in production in recent years that could help diversify the export market.Production enhancements happen through horizontal expansion in areas where suitably identified land is available. The area under P. monodon has declined to 27,616 per hectare (ha) in 2021-22 from 95,919 ha in 2009-10, while the area under P. vannamei increased to 815,745 ha in 2020-21 from 1,731 ha in 2009-10. In 2020-21, the yield of P. mondon was 0.47 tonnes per ha, while the yield of P. vannamei was 7.52 tonnes per ha. A cursory examination of the data shows that there has not been a remarkable expansion in either area or yield in the recent past.Productivity enhancements in shrimp can happen through the widespread adoption of modern technologies like Recirculatory Aquaculture System (RAS) and Biofloc. It is distressing that Biofloc has not been extensively adopted despite its cost advantage compared to pond culture. Government initiatives like the Prime Minister Matsya Kisan Samridhi Sah Yojana (PMMKSSY) could take the lead in training entrepreneurs at various levels in advanced production technologies and financial products through Krishi Vigyan Kendras (KVKs) and PPP efforts.Despite the opening up of foreign direct investment (FDI) in aquaculture, this avenue remains unexploited by established aquaculture and mariculture companies across the world. FDI in a sensitive sector, like aquaculture, can happen when the investment climate is favourable. Besides the investment climate, having a critical mass of technically competent personnel to service the sector is essential. The late Apple co-founder Steve Jobs stated that it is the availability of this mass of skilled workers that makes China an MFN (most favoured nation) for investments in any sector. There is an urgent need to rewire fisheries education to meet the requirements and demands of the fisheries and aquaculture production sector.It is heartening to note that 35,000-40,000 tonnes of shrimp are currently being exported to the US market following a pause in the 26% reciprocal tariffs levied by the US. However, it is important for the Indian shrimp sector to explore new opportunities by investing in shrimp farming in Central American countries. This would allow them to benefit from the lower US tariffs and gain a cost advantage in logistics. The increase in the US tariff on Ecuadorian seafood has resulted in a decline, while Chinese seafood exporters to the US are facing significant challenges, benefiting select Southeast Asian countries in the medium term for value-added shrimp and tilapia exports.Domestic urban and peri-urban markets are indeed responding to farmed shrimp consumption and must be necessarily serviced. However, it is essential to maintain a competitive edge in the export market by increasing market diversification and penetration, diversifying product composition, and attracting foreign investments for production to ensure a steady influx of foreign exchange. Corporate business houses must be invited and encouraged to take a long look at the potential of aquaculture, take initiative and lead the way. India has the potential to create an IPL out of aquaculture. Play it now.Dr M Krishnan is former Principal Scientist & Head, ICAR - Central Institute of Fisheries Education, Mumbai; and Dr Badri Narayanan Goplakrishnan is a Visiting Senior Fellow at CSEP, New Delhi. Views are personal.
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