New Delhi

The quantity of India’s seafood exports touched an all-time high during the financial year 2023-24 with the USA and China emerging as the top importers, according to a Commerce Ministry statement released on Wednesday.  

India shipped 17,81,602 metric tonnes (MT) of seafood worth Rs 60,523.89 crore ($7.38 billion) during 2023-24.

Frozen shrimp remained the major export item in quantity and value, while the USA and China became the major importers of India’s seafood. During FY 2023-24, the export improved in quantity terms by 2.67 percent. In 2022-23, India exported 17,35,286 MT of seafood worth Rs 63,969.14 crore ($8,094.31 million).

“India recorded an all-time high export in terms of volume despite the several challenges in its major export markets like the USA, EU, and the UK,” said D V Swamy, chairman, of Marine Products Export Development Authority (MPEDA).

Frozen shrimp, which earned Rs 40,013.54 crore ($4.9 billion), retained its position as the top item in the seafood export basket, accounting for a share of 40.19 percent in quantity and 66.12 percent of the total dollar earnings. Shrimp exports during the period increased by 0.69 percent in quantity terms.

The export of frozen shrimps during 2023-24 was pegged at 7,16,004 MT. The USA, the largest market, imported 2,97,571 MT of frozen shrimp, followed by China (1,48,483MT), the European Union (89,697 MT), Southeast Asia (52,254MT), Japan (35,906MT) and the Middle East (28,571 MT).

The export of black tiger (BT) shrimp increased by 24.91 percent, 11.33 percent and 8.28 percent in terms of quantity, value (Rupees), and US dollar, respectively, in 2023-24. BT shrimps were exported to the tune of 38,987 MT worth Rs 2855.27 crore ($347.84 million).

Frozen fish, the second largest exported item, fetched Rs 5,509.69 crore ($671.17 million), accounting for 21.42 percent in quantity and 9.09 percent in US dollar earnings. This year, the export of frozen fish increased by 3.54 percent and 0.12 percent in terms of quantity and value (Rupee), respectively; however, it declined by 2.31 percent in terms of US dollar.

The USA continued to be the major importer of Indian seafood in terms of value, with an import worth $2,549.15 million, accounting for a share of 34.53 percent in terms of US dollar value.

China (excluding Hong Kong and Taiwan) emerged as the second largest seafood export destination country for India in terms of US dollars with an import volume of 4,51,363 MT worth $1,384.89 million, accounting for 25.33 percent share in quantity and 18.76 percent in US dollar terms.

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Japan is the third largest importer, with a share of 6.06 percent in quantity and 5.42 percent in US dollar value terms. Frozen shrimp continued to be the major item of exports to Japan, with a share of 33.26 percent in quantity, 65.94 percent in Rupee, and 65.98 percent in US dollar value.