Seafood exports fell by 10% in FY 2020-21

The pandemic and situation of sluggishness in the international markets has impacted the export of India’s seafood sector, with the exports of the marine products contracting by 10.8% in terms of quantity during FY 2020-21. India’s exports of marine products during FY 2020-21 stood at 1149.3 thousand MT, valuing at US$ 5.96 billion. The leading importers were USA, China and the European Union (EU).

The main exported products were frozen shrimps, contributing 51.36% in exports in terms of quantity followed by frozen fish. KS Srinivasan, chairman of Marine Products Export Development Authority (MPEDA), commented that the exports of the products witnessed revival in last quarter of FY 21 while first half of the year experienced the fall due to the pandemic.

Furthermore, he added that aquaculture sector performed better this fiscal in comparison to 2019-20, contributing 67.99% in the exports in terms of dollars while 46.65% in terms of quantity. The scenario of the overseas market is another reason for fall in exports. For instance, in case of China, container shortage, COVID testing on the seafood products and rise in freight charges were the issues faced. For USA, shortage of containers made the exports difficult.