Exports of marine products jump 35% to $6.1 bn in 2021

Exports of marine products jumped 35 per cent to USD 6.1 billion during April-December 2021 as compared with USD 4.5 billion in the same period of the previous year, the commerce ministry said.

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

Key Highlights

• 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. Other major items include Frozen Fish (7 per cent) and Frozen Squid (5 percent).

• 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 USD 2.14 billion in 2020-21.

• It stood at USD 1 billion in April-October 2021-22, compared with USD 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.

SOURCE: Business Standard

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