Marine exports up 30 pc to nearly USD 8 bn in FY22
Exports of marine products rose 30.26 per cent to USD 7.76 billion during 2021-22 as against USD 5.96 billion in previous fiscal year, the commerce ministry said on Wednesday.
India shipped 13,69,264 MT (metric tonne) of seafood worth Rs 57,586.48 crore during 2021-22.
“During 2021-22, the export improved in rupee term by 31.71 per cent, in USD terms by 30.26 per cent and in quantity terms by 19.12 per cent,” the ministry said in a statement.
K N Raghavan, Chairman, Marine Products Export Development Authority (MPEDA), said India managed to do “all-time high” exports of USD 7.76 billion.
Frozen shrimp remained the major export item in terms of quantity and value. Its shipments stood at USD 5.82 billion last fiscal year. The segment accounts for 75.11 per cent of the total dollar earnings.
The US is the largest market of frozen shrimp, followed by China, the European Union, South East Asia, Japan, and the Middle East.
Frozen fish, frozen squid and frozen cuttlefish, are also major items for exports.
“The US continued to be the major importer of Indian seafood in value and volume terms with an import worth USD 3,371.66 million, accounting for a share of 37.56 per cent in terms of dollar value,” it added.
It said China has emerged as the second largest seafood export destination for India in terms of quantity with an import of 2,66,989 MT worth USD 1,175.05 million.