India’s seafood exports fetch record high $8.09 billion in FY23 

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Despite extreme odds, Indian seafood exports recorded $8.09 billion (Rs. 63,969.14 crores) in FY23, an all-time high in terms of quantity at 27 per cent, 11 per cent in rupees and 4.31 per cent from In terms of value in dollars.

The country exported 17,35,286 tons of marine products, with frozen shrimp remaining the main export item in terms of quantity and value, with the United States and China being the main importers. Frozen shrimp exports increased by one per cent in terms of rupee value from ₹42,706.04 crore to ₹43,135.58 crore.

DV Swamy, Chairman, Marine Products Export Development Authority, said that India has managed to achieve an all-time high level of exports despite numerous challenges in key export markets, such as the US.

Frozen shrimp, which earned ₹43,135.58 crore ($5,481.63 million), retained its position as the most important item in the seafood export basket, accounting for 41 percent of the amount and 68 percent of the total dollar earnings.

Total frozen shrimp exports amounted to 7,11,099 tons. The United States, the largest market, imported 2,75,662 tons, followed by China (1,45,743 tons), the European Union (95,377 tons), Southeast Asia (65,466 tons), and Japan (40,975 tons). ), and West Asia (31,647 t). ).

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However, exports to the United States fell 22 percent in dollar terms due to slowing demand.

Japan turned out to be the main market for black tiger shrimp, followed by the European Union and the United States.

However, Vannamei shrimp exports decreased by 8% from $5,234.36 million to $4,809.99 million.

Frozen fish, the second largest exported item, brought in ₹5,503.18 crore ($687.05 million). Under other items, Surimi was the third largest export basket with a value of $658.84 million, which brought in ₹2,013.66 crore ($253.89 million), fr. Octopus brought in ₹725.71 crore ($91.74 million), its analogue surimi products brought in ₹558.51 crore ($70.35 million), and canned products brought in ₹326.48 crore.

The aquaculture sector contributed 63 percent of exports in dollar terms and 38 percent in terms of quantity. The contribution of capture fisheries increased from 51 percent to 62 percent in quantity terms and from 30 percent to 37 percent in dollar terms.

Other countries such as Russia, Canada, Chile, Turkey, Dominican Republic, Bangladesh, Tunisia and others also contributed their share to the country’s marine products export basket.