USA (44.5%), China (15.3%) and Japan (6.2%) among top export destinations
New Delhi: India’s exports of Marine Products registered a growth of 35% to $6.1 billion during April-December 2021 (Provisional) as compared to $4.5 billion during same period in the year 2020. As compared to April-December 2019 ($5.5 billion) and April-December 2014 ($4.4 billion), exports of Marine Products registered a growth of 12% and 38% respectively.
In the month of December 2021, exports of Marine Products touched $720.51 million, registering a growth of 28.01% over $562.85 million logged in December 2020.
The overall exports of Marine Products in the last Financial Year (March, 2020-April, 2021) was USD 5.96 billion, and with $6.11 billion scaled during the first three Quarters of FY2021-22, the sector is very likely to exceed the all-time high of $7.02 billion exports achieved in the FY 2017-18, according to the latest figures provided by the Ministry of Commerce and Industry.
Top 5 export destinations in April-November 2021 (latest available, share% in bracket) are: USA (44.5%), China (15.3%), Japan (6.2%), Vietnam (4%) and Thailand (3%).
Frozen shrimps constitute the major share in India’s Marine Products exports items with 74% share in value terms (USD); Frozen Fish (7%), Others (6%) and Frozen Squid (5%) constitute the other major items in the Marine Products exports basket in FY 2020-21. Others category included primarily Surimi and Surimi analogue (imitation) products.
– global bihari bureau
