Exports of marine merchandise rose 30.26 per cent to USD 7.76 billion throughout 2021-22 as in opposition to USD 5.96 billion in earlier fiscal yr, the commerce ministry stated on Wednesday.
India shipped 13,69,264 MT (metric tonne) of seafood price Rs 57,586.48 crore throughout 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 stated in an announcement.
Ok N Raghavan, Chairman, Marine Products Export Development Authority (MPEDA), stated India managed to do “all-time high” exports of USD 7.76 billion.
Frozen shrimp remained the key export merchandise by way of amount and worth. Its shipments stood at USD 5.82 billion final fiscal yr. The phase accounts for 75.11 per cent of the full greenback earnings.
The US is the most important market of frozen shrimp, adopted by China, the European Union, South East Asia, Japan, and the Middle East.
Frozen fish, frozen squid and frozen cuttlefish, are additionally main objects 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 stated China has emerged because the second largest seafood export vacation spot for India by way of amount with an import of two,66,989 MT price USD 1,175.05 million.
Source: www.financialexpress.com”