Moneycontrol PRO

Exports of marine products jump 35% to $6.1 billion during April-December 2021

In December 2021, the exports grew 28 per cent to $720.51 million.

January 30, 2022 / 05:23 PM IST
Image Courtesy: Sarah Foster/Project Seahorse

Image Courtesy: Sarah Foster/Project Seahorse

Exports of marine products jumped 35 per cent to $6.1 billion during April-December 2021 as compared with $4.5 billion in the same period of the previous year, the commerce ministry said on Sunday. In December 2021, the exports grew 28 per cent to $720.51 million.

It said the five-top export destinations include the US, China, Japan, Vietnam and Thailand. "Frozen shrimps constitute the major share in India's marine products exports items with 74 per cent share in value terms," it added.

ALSO READ: Foreign trade in 2021: Record exports, Switzerland becomes 4th biggest import source

Other major items include Frozen Fish (7 per cent) and Frozen Squid (5 per cent). The Pradhan Mantri Matsya Sampada Yojana (PMMSY), launched in May 2020, has set a target of Rs 1 lakh crore fisheries export, additional 70 lakh tonnes fish production, and generation of 55 lakh employment in the years to come.

In a separate statement, the ministry said India's export of final consumer food products such as Ready to Eat (RTE), Ready to Cook (RTC) and Ready to Serve (RTS) stood at $2.14 billion in 2020-21. It stood at $1 billion in April-October 2021-22, compared with $823 million in April-October 2020-21.

The products covered under the ready to eat (RTE) category include biscuits and confectionery, jaggery, breakfast cereals, wafers, pan masala and betal. The main markets for these goods include the US, Malaysia, the UAE, Sri Lanka, Australia, Sudan, the UK, Singapore and Nepal.

"Malaysia imported jaggery worth of $5.09 million and Nepal imported wafers worth of $3.5 million in 2020-21," the ministry said. Further, the major exporting destinations for RTC export in 2020-21 are the US ($18.62 million), Malaysia ($11.52 million), the UAE ($8.75 million), Indonesia ($7.52 million), and the UK ($7.33 million).

first published: Jan 30, 2022 05:23 pm