New Delhi: India, despite facing challenges in major export markets like the United States, achieved record-high overseas sales in terms of both volume and value during the fiscal year 2022-23. The country shipped out 17,35,286 metric tonne (MT) of seafood worth 63,969.14 crore ($ 8.09 billion) last year, the ministry of commerce & industry said in a statement.
Exports rose on 26.73% on year in quantity terms, 11.08% in rupee terms, and 4.31% in US dollar terms. In 2021-22, India had exported 13,69,264 MT of seafood worth 57,586.48 crore.
Frozen shrimp remained the leading export item, in both quantity and value terms, with the United States and China primary importers of India’s seafood. Frozen shrimp, which earned 43,135.58 crore, accounted for 40.98% of total exports and 67.72% of the total US dollar earnings. Shrimp exports witnessed a 1.01% increase in rupee terms during the period.
According to the ministry, overall export of frozen shrimps in 2022-23 was at 7,11,099 MT. The United States, as the largest market, imported 2,75,662 MT of frozen shrimp, followed by China with 1,45,743 MT, the European Union with 95,377 MT, South East Asia with 65,466 MT, Japan with 40,975 MT, and the Middle East with 31,647 MT.
K S Srinivas, chairman of MPEDA, said, “India’s seafood industry has demonstrated resilience and adaptability, achieving remarkable growth in exports despite the global market fluctuations. The diversification of markets and consistent focus on quality have contributed to this success.”
Frozen fish, the second-largest exported item, accounted for 5,503.18 crore, representing 21.24% of the total quantity and 8.49% of the US dollar earnings. The export of frozen fish witnessed a substantial increase of 62.65% in quantity, 58.51% in rupee value, and 45.73% in US dollar terms.
Other significant items in the seafood export basket include surimi, frozen octopus, surimi analogue products, canned products, frozen lobster, and other products, collectively valued at $658.84 million.
India’s seafood exports to the United States declined 21.94% in dollar terms due to sluggish demand, but frozen shrimp remained the principal item exported with a 92.70% share in dollar terms.
China emerged as the second-largest seafood export destination for India, with a significant increase of 51.90% in quantity, 32.02% in rupee value, and 28.37% in US dollar value. The European Union continued to be the third-largest destination, while South East Asia and Japan followed suit.
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