India export record 17,81,602 MT of seafood in 2023-24
Economy
6 min read
According to the Marine Products Export Development Authority (MPEDA), the export of seafood from India in 2023-24 has recorded an all-time high of 17,81,602 Metric tonnes(MT) as compared to 17,35,286 MT in 2022-23. However, in monetary value terms, there has been a decline in the value of seafood exports. India exported seafood with Rs 60,523.89 crore or US$7.38 billion during 2023-24. In 2022-23, the value of the seafood export was Rs 63,969.14 crore or US$ 8,094.31 million.
The government of India had set an export target of $9.1 billion for seafood in 2023-24.
The main reason for the decline in value has been a sharp fall in the prices of shrimps in the international markets especially the United States of America.
Major seafood export products
- Frozen shrimp remained the main export item amongst the total seafood exports from India in 2023-24. The total export of frozen shrimp in 2023-24 was Rs 40,013.54 crore or US$4881.27 million. Frozen shrimp contributed 40.19% in quantity and 66.12% in value terms (in dollar terms) to the total seafood export.
- In second place was frozen fish. India exported Rs 5,509.69 crore or US$671.17 million worth of frozen fish, which amounted to 21.42% of the total seafood export in quantity and 9.09% in dollar earnings.
- At the third place was the Fish and shrimp- meal & feed- non-edible dried items. India exported Rs 3684.79 crore or $449.17 million worth of fish and shrimp- meal & feed- non-edible dried items. It accounted for 15.89 per cent of the total seafood exported quantity and 6.08 per cent in dollar earnings.
- Fourth—Frozen squid. The total value of the exported frozen squid was Rs 3061.46 crore /US$373.40 million. Its contribution to total export quantity-wise was 5.25 per cent and value-wise 5.06 per cent in dollar terms.
- Fifth-Surimi and Surimi Analogs. The total exported value of the Surimi and Surimi Analogs was Rs 2,414.43 crores /US$294.43 million. Its contribution to total export quantity-wise was 4.12 per cent.
- Sixth-Frozen cuttlefish. The total exported value of the frozen cuttlefish was Rs 2252.63 crores /274.62 US$ million. Its contribution to total export quantity-wise was 3.05 per cent share and value-wise 3.72 per cent in dollar terms.
Major Export Market for Seafood Export in 2023-24
According to the MPEDA, the United States of America remained the top export destination for Indian shrimp and seafood in 2023-24. The following is the list of the top export markets for Indian seafood during 2023-24.
|
Serial number |
Country |
Exported value (US Dollar) |
Major Export Item |
Share in total Export in Value terms ( US Dollars) |
|
1 |
United States of America |
2,549.15 million, |
Frozen Shrimp |
34.43 per cent |
|
2 |
China (excluding Hong Kong) |
1,384.89 million, |
Frozen Shrimp, |
18.76 per cent |
|
3 |
Japan |
399.74 million. |
Frozen Shrimp |
5.42 per cent |
|
4 |
Vietnam |
391.41 million |
Frozen Shrimp |
5.30 per cent |
|
5 |
Thailand |
281.97 million |
Frozen Fish |
3.82 per cent |
|
6 |
Canada |
199.13 million |
Frozen Shrimp |
2.70 per cent |
|
7 |
Spain |
195.95 million |
Frozen Cuttlefish |
2.65 per cent |
|
8 |
Belgium |
178.67 million |
Frozen Shrimp |
2.42 per cent |
|
9 |
United Arab Emirates |
158.81 million |
Frozen Shrimp |
2.15 per cent |
|
10 |
Italy |
157.80 million |
Frozen Squid |
2.14 per cent |
Marine Products Export Development Authority (MPEDA)
The government of India established the Marine Products Export Development Authority (MPEDA) in 1972 to promote the marine products industry and boost exports from the country.
The MPEDA was set up under the provisions of the Marine Products Export Development Authority Act 1972.
It comes under the Union Ministry of Commerce and Industry.
Headquarters: Kochi, Kerala.
