Analysis of Marine Products Export from India using Markov-Chain Analysis

Abstract

The present study analyses the changing pattern of
marine product exports from India to seven regions/
countries such as Japan, USA, European Union
(E.U), China, South East Asia (SEA), Middle East
(ME) and others, during two decades from 1995 to
2015. The average growth rate of marine seafood
export in relation to quantity and value for the two
decades was 6.78 and 12.5% respectively. Frozen
shrimp export quantity had nearly 40% share in the
total export basket. Instability in value was higher
than the quantity of export, out of which frozen
shrimp price instability was nearly 60%. Using
Markov Chain Analysis, it was observed that
European Union was having higher probability of
retention (0.82) compared to the other regions. In the
first decade Japan was the major importer with
higher probability of retention which reduced from
0.91 to 0.56 during the second decade with a gain
by European Union (0.87) in the same decade.