Weathering Covid, marine exports zoom to record high

V.Sajeev Kumar | Updated on: Jun 29, 2022
Frozen shrimp, which earned ₹42,706.04 crore, remains the most significant item in the seafood export basket (file image)

Frozen shrimp, which earned ₹42,706.04 crore, remains the most significant item in the seafood export basket (file image) | Photo Credit: MUSTAFAH KK

US remains biggest importer of Indian seafood; frozen shrimps rule the market

Despite the heavy odds, India has shipped 13,69,264 tonnes of seafood worth ₹57,586.48 crore ($7.76 billion) during 2021-22. Frozen shrimp remained the major export item in terms of quantity and value while the US and China turned out to be the major importers of India’s marine products.

In FY21, seafood exports touched 11,49,510 tonnes, valued at ₹43,720.98 crore ($5.956.93 million).

KN Raghavan, Chairman, Marine Products Export Development Authority, said the country achieved an all-time high in exports despite several challenges posed by the Covid pandemic. The export targetset by the Commerce Ministry was also met 99.4 per cent .

Frozen shrimp, which earned ₹42,706.04 crore ($5,828.59 million), remained the most significant item in the seafood export basket. At 7,28,123 tonnes, frozen shrimp export fetched $5,828.59 million.

Among the overseas markets, the US remained the major importer of Indian seafood both in value and volume terms at $3,371.66 million. Frozen shrimp continued to rule in the US market, with Vannamei shrimp export registering a growth of 27 per cent in quantity and 35 per cent in dollar terms. Exports of black tiger shrimp to the US increased by 69 per cent in quantity and 152 per cent in dollar terms.

China emerged the second largest seafood export destination for India at 2,66,989 tonnes worth $1,175.05 million. The European Union continued to be the third largest destination for frozen shrimp. Southeast Asia is the fourth largest market and Japan stayed in the fifth position. Exports to West Asia also showed a growth.

The US imported 3,42,572 tonnes of frozen shrimp, followed by China (1,25,667 tonnes ), the European Union (90,549 tonnes ), Southeast Asia (44,683 tonnes), Japan (38,492 tonnes), and West Asia (37,158 tonnes).

The export of Vannamei (white leg) shrimp increased from 5,15,907 to 6,43,037 tonnes, with the US accounting for 59 per cent, followed by China (14.59 per cent), European Union (8.16 per cent), Southeast Asia (4.78 per cent), Japan (3.61 per cent), and West Asia (3.17 per cent). The US also turned out to be the major market for black tiger shrimp, followed by the European Union and Japan.

Published on June 29, 2022
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