India's seafood exports touch $7.45 billion

KOCHI — India exported 16,98,170 metric tonnes of seafood worth INR 62,408.45 crore ($7.45 billion) during the financial year 2024-25, with frozen shrimp continuing to dominate the country's export basket.

The United States and China emerged as the top importers, according to the Marine Products Export Development Authority (MPEDA).

Frozen shrimp alone fetched INR 43,334.25 crore ($5.17 billion), accounting for 43.67 per cent of export volume and nearly 70 per cent of the dollar earnings.

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Exports of shrimp rose by 8.3 per cent in rupee value and 6.06 per cent in dollar terms compared to the previous year.

The United States remained the largest buyer, importing 3,11,948 MT of frozen shrimp, followed by China with 1,36,164 MT, the European Union with 99,310 MT, South East Asia with 58,003 MT, Japan with 38,917 MT, the Middle East with 32,784 MT, and other destinations together accounting for 64,403 MT.

Varieties including Vannamei, Black Tiger and Scampi showed growth in both quantity and value.

Other major contributors to seafood exports included frozen fish, which earned INR 5,212.12 crore ($622.6 million), and frozen squid, which brought in INR 3,078.01 crore ($367.68 million).

Frozen cuttlefish exports grew by 9.11 per cent in volume and 3.99 per cent in dollar value, touching $ 285.57 million. Dried items contributed 2,52,948 MT worth INR 2,852.60 crore ($340.75 million), while chilled and live seafood products added INR 659.41 crore ($78.79 million) and $56.01 million respectively, with live items recording a 15.21 per cent growth in value.

The United States remained the leading market in value terms, importing $ 2.71 billion worth of seafood from India, of which shrimp accounted for 92.55 per cent. China was the largest market in terms of quantity, absorbing 3,96,424 MT valued at $1.27 billion.