Indias marine product exports hit an all-time high in FY 2021-22

Indias marine product exports hit an all-time high in FY 2021-22

June 29, 2022 5:06 IST | capital market
India shipped 13,69,264 MT of seafood worth Rs 57,586.48 crore (USD 7.76 billion) during 2021-22, despite heavy odds. During the FY 2021-22, the export improved in rupee term by 31.71%, in USD terms by 30.26% and in quantity terms by 19.12%. In 2020-21, India had exported 11,49,510 MT of seafood worth Rs 43,720.98 crore (USD 5,956.93 million). K N Raghavan, Chairman, Marine Products Export Development Authority (MPEDA), said India managed to do all time high exports export worth US$ 7.76 billion with volume of 13,69,264 MT of seafood, despite the several challenges in its major export markets caused by the Covid pandemic. Frozen shrimp remained the major export item in terms of quantity and value. Frozen shrimp, which earned Rs 42,706.04 crore (USD 5,828.59 million), accounted for a share of 53.18 per cent in quantity and 75.11 per cent of the total dollar earnings. Shrimp exports during the period increased by 31.68 per cent in USD value and 23.35 per cent in quantity. The overall export of frozen shrimps during 2021-22 was pegged at 7,28,123 MT. USA, the largest market, imported (3,42,572 MT) of frozen shrimp, followed by China (1,25,667 MT), European Union (90,549 MT), South East Asia (44,683 MT), Japan (38,492 MT), and the Middle East (37,158 MT). Export of Frozen shrimp shown increase in all the markets by value.Powered by Capital Market - Live News

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