India’s seafood exports touched an all-time high in volume during the financial year 2023-24 despite various challenges in significant export markets. India shipped 17,81,602 MT of seafood worth ₹60,523.89 crore (US$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%. In 2022-23, India exported 17,35,286 MT of seafood worth ₹63,969.14 crore (US$8,094.31million). “India recorded an all-time high export in terms of volume by shipping 17,81,602 MT of seafood worth US$ 7.38 billion, despite the several challenges in its major export markets like the USA, EU & the UK,” D V Swamy IAS, Chairman, Marine Products Export Development Authority (MPEDA), said. Frozen shrimp, which earned ₹40,013.54 crore (US$4881.27million), retained its position as the top item in the seafood export basket, accounting for a share of 40.19% in quantity and 66.12% of the total dollar earnings. Shrimp exports during the period increased by 0.69% in quantity terms.The export of frozen shrimps during 2023-24 was pegged at 7,16,004 MT. The USA, the largest market, imported 2,97,571 MT of frozen shrimp, followed by China (1,48,483MT), the European Union (89,697 MT), Southeast Asia (52,254MT), Japan (35,906MT), and the Middle East (28,571 MT).
The export of black tiger (BT) shrimp increased by 24.91%, 11.33% and 8.28% in quantity, value ₹ and US$ terms, respectively, in 2023-24. BT shrimps were exported to the tune of 38,987 MT worth ₹2855.27 Cr (US$347.84 million). China (including Hong Kong) turned out to be the major export destination for black tiger shrimp with a share of 28.43% in terms of US$ value, followed by the USA (18.21%), European Union (18.06%) and Japan (13.12%). Scampi exports have shown a positive trend of 6.42%, 23.22% and 18.96% in quantity, value ₹ and US$ terms, respectively, in 2023-24. The Vannamei shrimp exports have grown in 2023-24 by 0.33% by volume; however, they declined by 11.56% from US$ 4809.99 million to US$ 4253.86 million.
