Performance of Seafood export in special reference to MAGNUM Seafood Ltd., Bhubaneswar
Ms. Sipra Karmakar
Research Scholar
Centurion University of Technology and Management, Bhubaneswar
Dr. Bibhunandini Das
Associate Professor
Centurion University of Technology and Management, Bhubaneswar
- Introduction:
1.1 General Introduction: Seafood industry plays a significant role in the economic and social wellbeing of nations, as well as in the feeding of a significant part of the world’s population. Fishing and fish farming has emerged as one of the major food processing occupations of mankind. In ancient times, economically and socially backward people were employed in this profession.
The advent of modern mechanized fishing vessels has brought vast changes in the attitude of the public fishing and seafood processing. From low income and socially backward communities the profession has shifted to the hands of industrialists and technologists. Today fishing and processing activities provide employment to millions of people around the world.
Once seafood products are harvested, they are generally processed or packaged for distribution to retail stores and restaurants. Wild fish and shellfish are unloaded from harvest vessels and farmed products are harvested from facilities then transported and packed for distribution to processing plants or wholesalers. Processors convert the whole fish or shellfish to various other product forms such as fresh fish fillets or steaks or other items such as frozen products, breaded fish portions, and canned or smoked products.
Some of these products may be further converted by secondary processors to heat and serve or ready-to-eat products like seafood salads, entrees or other items. Wholesalers and foodservice distributors receive both raw and processed products from many different domestic and foreign sources and distribute them to retail stores and restaurants..
In FY20, aquaculture products comprised 70-75 percent of the country’s overall seafood exports. The size of the export market for shrimps alone was $4.5 billion, with white leg shrimps accounting for a 75-80 percent share.
