Exports of marine products recorded a growth of 35% to reach USD 6.1 billion from April to December 2021 (provisional) compared to USD 4.5 billion during the same period of 2020

Ministry of Trade and Industry

Exports of marine products recorded a growth of 35% to reach USD 6.1 billion from April to December 2021 (provisional) compared to USD 4.5 billion during the same period of 2020

In December 2021, seafood exports reached $720.51 million, registering a growth of 28.01% compared to $562.85 million recorded in December 2020

The United States (44.5%), China (15.3%) and Japan (6.2%) among the main export destinations

The sector’s exports are expected to exceed the record level of $7.02 billion reached in fiscal year 2017-18, despite the impact of the Covid19 pandemic since January 2020


Posted on: Jan 30, 2022 3:07 PM by GDP Delhi

Exports of marine products recorded a growth of 35% to reach USD 6.1 billion from April to December 2021 (provisional) against USD 4.5 billion during the same period in 2020. Compared to April-December 2019 (5.5 billion USD) and April-December 2014 (4.4 billion USD), exports of seafood products recorded growth of 12% and 38% respectively.

In the month of December 2021, exports of seafood products reached 720.51 million dollars, registering a growth of 28.01% compared to 562.85 million dollars recorded in December 2020.

Overall marine product exports in the last fiscal year (March 2020-April 2021) were $5.96 billion, and with $6.11 billion scaled in the first three quarters of fiscal 2021 -22, the sector is very likely to surpass the all-time high total of $7.02 billion in exports achieved in fiscal year 2017-18, despite the impact of the Covid19 pandemic since January 2020.

The top 5 export destinations in April-November 2021 (latest data available, % share in brackets) are: United States (44.5%), China (15.3%), Japan (6. 2%), Vietnam (4%) and Thailand (3%). Frozen prawns make up the bulk of India’s marine product exports with 74% share by value (USD); Frozen fish (7%), others (6%) and frozen squid (5%) constitute the other main items in the basket of marine products exports in the financial year 2020-21. The Others category mainly included surimi and analogue (imitation) surimi products.

Several fisheries export promotion programs have been implemented by the Marine Products Export Development Authority (MPEDA), a statutory body established in 1972 under the Ministry of Trade and Industry for the promotion of marine products exports from India. Prime Minister Shri Narendra Modi launched the Pradhan Mantri Matsya Sampada Yojana (PMMSY) in May 2020 with an array of 100 diverse activities. With a budget of Rs. 20,050 crore, it is by far the largest investment to bring about the blue revolution through the sustainable and responsible development of the fisheries sector in India. PMMSY, implemented over a 5-year period from FY 2020-21 to FY 2024-25 across all states/union territories, has set a target of Rs. 1,00,000 crore in export of fishing, 70 lakh tons of additional fish production and the creation of 55 lakh of jobs in the coming years.

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