In 2021-22, India exported 13,69,264 tonnes of marine goods worth US$ 7.76 billion (Rs 575.86 billion), an all-time record in terms of value, while shrimp output exceeded one million MT. Frozen shrimp remained the most important export item in terms of quantity and value, accounting for 53% of total income and 53% of total volume.
Despite three years of a slow worldwide market caused by the pandemic, logistical challenges, and tight inspections of shrimp consignments, the country’s seafood exports are expected to hit an all-time high of US$ 8 billion in FY 2022-23.
In 2021-22, India exported 13,69,264 tonnes of marine goods worth US$ 7.76 billion (Rs 575.86 billion), an all-time record in terms of value, while shrimp output exceeded one million MT.
Frozen shrimp remained the most important export item in terms of quantity and value, accounting for 53% of total income and 53% of total volume.
D.V. Swamy, chairman of the Marine Products Export Development Authority (MPEDA), stated that the organisation is confident about reaching new heights with a multifaceted approach based on sustainable fishing practises, value addition, and enhanced aquaculture.
“Further, the slashing of the customs duty on ingredients, such as fish lipid oil, fish meal, Krill meal, mineral, and vitamin premix which are used in manufacturing aquatic feed, will help to reduce the production cost, thereby providing a competitive edge to the entire stakeholders of the aquaculture industry,” Swamy said.
MPEDA has organised over 40 Virtual Buyer Seller Meets (VBSMs) with Japan, China, Russia, the United Kingdom, Vietnam, Germany, Malaysia, South Korea, Oman, Singapore, and Spain as part of its aim to increase exports in FY 2022-23.
MPEDA studied the seafood market in China, the second largest importer of Indian seafood, and similar studies are planned for nations in the Commonwealth of Independent States, the Middle East, and South East Asia.
