In what is a record-breaking milestone for Indian exports for the year 2023-24, India exported a whopping 17,81,602 metric tonnes of seafood valued at ₹60,523.89 crores or 7.38 billion US dollars. Although export markets were faced with significant challenges during this time, seafood products like frozen shrimp and black tiger shrimp emerged as most in demand in terms of quantity and value. While USA and China maintained their position as the primary importers of seafood from India, the overall export volume saw a 2.67% increase compared to the year 2022-23.
While exports of frozen shrimp managed to generate a revenue of ₹40,013.54 crores, the export of black tiger shrimp also rose significantly with a 24.91% increase in quantity. While the USA imported 297,571 metric tonnes of frozen shrimp – leading as the importer, China follows in a close second with 148,483 metric tonnes, the European Union with 89,697 metric tonnes, Japan with 35,906 and he Middle East with 28,571 metric tonnes of seafood. Exports of frozen shrimp accounted for 40.19% of the total seafood export for the year.
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Frozen fish, which was accounted as the second largest stakeholder for seafood exports, contributed to 21.42% of the total generated revenue – its exports increasing by 3.54 % over the past year. In addition to this, fish, shrimp meal and feed, as well as non-edible dried seafood products collectively became the third most prominent exports for the year. This was also followed by frozen squid, surimi and surimi analogs, frozen cuttlefish, octopus and lobster – all of which were major contributors. Read the full report here.