Marine Products Exports hit all time high during 2021-22

Marine products exports from India reached the all time high of US$ 7,740 million during 2021-22, despite the heavy odds faced by the sector. The target for 2021-22 fixed by Department of Commerce, GoI, for this sector was US$ 7809 million and marine products export achieved 99.12% of the target. The growth observed is 30% higher when compared to 2020-21 in US$ value terms. The seafood export Compound Annual Growth Rate (CAGR) during the past decade stands as 8.23%. 

Dr. K N Raghavan IRS, Chairman MPEDA announced the news in a press release function arranged at MPEDA Head Office Kochi on 7th April 2022. Dr. M. Karthikeyan, Director, MPEDA; Shri K. S. Pradeep IFS, Secretary, MPEDA and MPEDA Officials at Head Office were present during the meeting. Shri Jagadeesh Fofandi, National President, Seafood Exporters Association of India (SEAI) along with Regional Presidents & Office Bearers of SEAI attended the program virtually. MPEDA regional offices also attended the program in virtual mode.

During 2021-2022, India has exported marine products to 121 countries. USA continues to be the top destination for exports this fiscal year also. US has remained the top destination for seafood export for the past 11 years. The target fixed for US market during the fiscal year was US$ 3021 million and the achievement is US$ 3315 million.  

China, again stood at number two position, a ranking it has retained during the previous 3 years despite the various trade challenges faced. Exports to China touched US$ 1121 million against the target of US$ 1021 million.

Japan, stood at number three position, again retaining the same ranking for the past 3 years. Exports to Japan was US$ 448 million against the target of US$ 428 million.

USA, China and Japan are top 3 favourite destinations of Indian marine exports.  Exports to these three countries contributed 63% of our exports in US$ value terms.

The top 5 countries contributed 70% of exports and top 10 countries contributed 82% of total marine exports in U$ value terms.