Shrimp products and their processed products from East Java, Indonesia, have great potential to meet the needs of the global market. This is because the export value of fish and its derivatives such as shrimp continues to grow. The Head of the LPEI IEB Institute Division, Rini Satriani explained that the value of Indonesian fisheries exports for the January-May 2022 period rose 15.04% year on year (yoy) from USD 1.96 billion to USD 2.26 billion. Meanwhile, shrimp and processed products increased by 17.56% yoy from USD 1.08 billion to USD 1.27 billion until May 2022. Based on commodity type, Indonesia's shrimp exports are dominated by lobster, small shrimp (shrimp), large shrimp (prawn). with the main export destinations being the United States, China, Japan, Vietnam and Thailand. Seeing this potential, Indonesia Eximbank, the Indonesian Export Financing Agency (LPEI) recently inaugurated the Shrimp Cluster Foreign Exchange Village in Situbondo, East Java. As a special institution for the Ministry of Finance's Special Mission Vehicle, LPEI always supports export-oriented micro, small and medium enterprises (MSMEs) through various programs, including the Foreign Exchange Village Program. LPEI Executive Director, Rijani Tirtoso explained, LPEI continues to synergize with the central and regional governments, other stakeholders in developing the potential of a region. For this reason, through the Foreign Exchange Village Program, LPEI is here to help business actors to increase their capacity, both in terms of knowledge and aspects of production.
"Training and assistance are given to be able to build products of international standard. This Foreign Exchange Village Program also not only promotes products or commodities, but also has the goal of improving the economy and welfare of the people. If the products have high competitiveness, it means that the selling price is also good, then indirectly immediately, the people will prosper," She said in a written statement on Monday (18/7). She continued, this Shrimp Cluster Foreign Exchange Village is a joint development between LPEI and one of the debtors, namely Panca Mitra Multi Perdana (PMMP). The shrimp harvest from the Foreign Exchange Village will be sold to PMMP, so the quality is guaranteed. She hopes that in the future there will be more Foreign Exchange Villages by adopting business schemes like this. Just so you know, based on data from the International Trade Center, the value of World Fisheries exports in the global market in 2021 will reach USD 164.24 billion. During the last five years (2017-2021) World Fisheries exports on average increased by 3.23% per year. Specifically for shrimp products and their processed products, in 2021 it will reach USD 48.36 billion or an increase of 26.27% yoy in 2021. During the last five years, world exports of shrimp and their processed products have increased by an average of 4.91% per year. Indonesia is one of the exporting countries for fishery commodities and is ranked 11th in the world, besides that it also controls an export market share of 3.2% in 2021 or reaches USD 5.26 billion. The five main exporting countries of fishery commodities in the world are China, Norway, Vietnam, India and Canada.
