: India’s marine product exports up by 30% to Rs 57,586.48 cr in FY22 #FinanceIndia #StockMarketNEWS India’s marine product exports up by 30% to Rs 57,586.48 cr in FY22 New Delhi, June 29 (KNN) India’s

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India’s marine product exports up by 30% to Rs 57,586.48 cr in FY22 #FinanceIndia #StockMarketNEWS
India’s marine product exports up by 30% to Rs 57,586.48 cr in FY22 New Delhi, June 29 (KNN) India’s marine product exports recorded an all-time high in FY 2021-22, marking a growth over 30 per cent to Rs 57,586.48 crore.

India shipped 13, 69,264 MT of seafood in FY21-22, with frozen shrimp retaining the top position as a major export item.

The overall export of frozen shrimps was pegged at 7, 28,123 MT featching Rs 42,706.04 crore (USD 5,828.59 million).

K N Raghavan, Chairman, Marine Products Export Development Authority (MPEDA), said, "India managed to achieve an all-time high export of seafood worth USD 7.76 billion with a volume of 13,69,264 MT of seafood, despite the several challenges in its major export markets caused by the COVID pandemic."

The second largest export item earned Rs 3,979.99 crore (USD 540.73 million), accounting for 12.96 per cent in quantity and 6.97 per cent in dollar earnings.

The export of frozen fish increased by 20.44 per cent, making it the third largest export item. It brought in Rs 3471.91 crore (USD 471.45 million), accounting for 16.55 percent of total revenue and 6.08 percent of total dollar earnings.

The export of frozen squid, pegged at 75,750 MT, exhibited a growth of 23.82 per cent in quantity and 40.24 per cent in dollar terms and earned Rs 2,806.09 crore (383.37 USD million).

Promising signs came from the chilled item sector. The sector saw an increase of 23.08 per cent in quantity terms and 53.45 per cent in rupee terms, but declined 1.87 per cent in USD terms.

USA continues to be the major importer of Indian seafood, followed by China in second place in both value and volume terms, with an import worth USD 3371.66 million.

The European Union, South East Asia, and Japan followed them in third, fourth and fifth place. (KNN Bureau)