HomeEconomyEconomy Focus: India exported 13,69,264 MT of seafood worth Rs 57,586.48 crore...

Economy Focus: India exported 13,69,264 MT of seafood worth Rs 57,586.48 crore (USD 7.76 billion) by 2021-22

During FY 2021-22, exports improved during the rupee by 31.71%, in terms of USD by 30.26% and in value by 19.12%. In 2020-21, India had exported 11,49,510 MT seafood worth Rs 43,720.98 crore (USD 5,956.93 million).India exported 13,69,264 MT of seafood worth Rs 57,586.48 crore (USD 7.76 billion) by 2021-22, despite serious problems. Shri KN Raghavan, Chairman, Marine Products Export Development Authority (MPEDA), said India was able to produce high value-added $ 7.76 billion exports at a volume of 13,69,264 MT for seafood, despite several market challenges its large export about the Covid-19 epidemic.

Frozen shrimp have always been a major exporter in terms of quantity and quality. Frozen shrimp, which earned Rs 42,706.04 crore (USD 5,828.59 million), accounted for 53.18 percent of the total and 75.11 percent of total revenue. Exports of shrimp during this period increased by 31.68 per cent to the USD value and 23.35 per cent in total. Complete shipment of frozen shrimp between 2021-22 included 7,28,123 MT. The 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 Middle East (37,158 MT). The export of Frozen shrimp is shown to increase in all markets by value.

Exports of vannamei (white leg) shrimp increased from 5,15,907 MT to 6,43,037 MT by 2021-22. In the total exports of Vannamei shrimp in USD value terms, the USA was 59.05%, followed by China (14.59%), the European Union (8.16%), South East Asia (4.78%), Japan (3.61%), and the Middle East. (3.17%). The USA also has the largest Black Shark market with 25.90% in USD, followed by the European Union (23.78%) and Japan (22.71%).Other items, which are the second largest exporter, fetched Rs 3,979.99 crore (USD 540.73 million), accounting for 12.96% in total and 6.97% in dollar profits. Exports increased by 43.8% to the rupee value and 42.94% to the dollar value. Other items include surimi and surimi analogue products by 56.55% in USD terms.

Frozen fish, the third largest exporter, fetched Rs 3471.91 crore (USD 471.45 million), accounting for 16.55 percent in total and 6.08 percent of revenue. Exports of frozen fish increased by 20.44% in volume and 17.19% in dollar value. Exports of frozen squid, identified at 75,750 MT, showed an increase of 23.82% in volume and 40.24 percent in dollars, and gained Rs 2,806.09 crore (383.37 USD million).Exports of frozen cuttlefish, identified at 58,992 MT, showed a growth of 26.83% rupee and 26.18% in USD value, and gained Rs 2062.63 crore (280.08 million USD).

Drying exports, identified at 73,679 MT, showed a growth of Rs 28.27% but decreased by 8.59% in the USD value, and gained Rs 1472.98 crore (143.46 million USD).Cold exports, which are considered promising, also increased by 23.08% in value and 53.45% in rupee terms but decreased by 1.87 percent in USD terms. Live Exports, identified at 7,032 MT, showed an increase of 60.57% in bulk, 47.43% in the rupee price and 46.67% in USD terms. Fulfillment of the unit number of frozen shrimp, frozen cuttlefish, frozen squid, dried stuff and more has shown good growth.

In terms of overseas markets, the USA continues to be the largest exporter of Indian seafood in terms of quantity and volume both in foreign exchange amounting to USD 3371.66 million, including a share of 37.56% in value in dollars. Exports to the US accounted for 27.63% growth in bulk, 36.76% in rupee value and 37.56% in USD profit. Frozen shrimp continued to be a major exporter to the US and exports of vannamei shrimp showed growth of 26.81% in total and 34.65% in dollars. Exports of black shrimp to the US increased by 68.99% in value and 152.06% in USD terms.

China has emerged as the second largest exporter of seafood exported from India with a total value of 2,66,989 MT worth USD 1,175.05 million, amounting to 19.50% in total and 15.14% in dollars. Exports to the Chinese market grew by 22.28% in volume and 31.09% in the rupee value and value of 25.12% in USD. Frozen shrimp, which are the main exports to China, have a share of 47.07% in total and 67.04% of the dollar value while frozen fish share 32.10% in total and 15.19% in total. exported to China. Frozen shrimps to China have shown good growth in quantity and volume. The European Union continues to be India’s third-largest marine food producer with frozen shrimp, a major exporter, accounting for an increase of 29.11% and 37.09% in volume and dollar value, respectively.

South East Asia is the fourth largest market. Frozen shrimp, the main export item, accounted for 18.36% in value and 36.81% in USD value at 22.29% growth. frozen fish, which is the second largest exporter, with 33.42% shares in value and 21.42% in USD value at 82.24% growth.Japan continued to be the fifth largest importer with 5.68% in terms of USD value and 6.60% in volume, registering growth of 6.95% in USD value. Frozen shrimp continued to be the largest exporter to Japan with a share of 74.55% and a growth of 3.73% in USD value. Exports to the Middle East also showed growth of 20.2% in bulk, 21.27% rupees and 20.7% in dollars.

Read Also: Governance Focus: Cabinet Committee on Economic Affairs approved Computerization of Primary Agricultural Credit Societies & cloud based common software with cyber security

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