NEW DELHI — India achieved an all-time high in exports of seafood, both in terms of volume and value (both dollar and rupee), by shipping 17,35,286 million tonnes of seafood worth Rs 63,969.14 crore during 2022-23 despite several challenges in its major export markets like the US.
According to the Commerce Ministry data, during 2022-23, the export improved in quantity terms by 26.73 per cent, in rupee terms by 11.08 per cent, and in dollar terms by 4.31 per cent.
In 2021-22, India had exported 13,69,264 million tonnes of seafood worth Rs 57,586.48 crore.
India achieved an all-time high in exports of #seafood, both in terms of volume and value (both dollar and rupee), by shipping 17,35,286 million tonnes of seafood worth Rs 63,969.14 crore during 2022-23 despite several challenges in its major export markets like the US. pic.twitter.com/JTEAh5o9QI
— IANS (@ians_india) June 14, 2023
Frozen shrimp remained the major export item in terms of both quantity and value while the US and China turned out to be the major importers of India's seafood.
Frozen shrimp, which earned Rs 43,135.58 crore, retained its position as the most significant item in the basket of seafood exports, accounting for a share of 40.98 per cent in quantity and 67.72 per cent of the total dollar earnings.
[bsa_pro_ad_space id=1]Shrimp exports during the period increased by 1.01 per cent in rupee value.
The overall export of frozen shrimps during 2022-23 was pegged at 7,11,099 million tonnes.
The US, the largest market, imported (2,75,662 million tonnes) of frozen shrimp, followed by China (1,45,743 million tonnes), the European Union (95,377 million tonnes), South East Asia (65,466 million tonnes), Japan (40,975 million tonnes), and the Middle East (31,647 million tonnes).
Frozen fish, the second largest exported item, fetched Rs 5,503.18 crore, accounting for 21.24 per cent in quantity and 8.49 per cent in dollar earnings.
This year, the export of frozen fish has increased by 62.65 per cent, 58.51 per cent, and 45.73 per cent in quantity, rupee and dollar value terms, respectively.
As for overseas markets, the US continued to be the major importer of Indian seafood in value terms with an import worth $2,632.08 million, accounting for a share of 32.52 per cent in terms of dollar value.
Exports to the US declined by 21.94 per cent in dollar terms due to sluggish demand.
Frozen shrimp continued to be the principal item exported to the US with a share of 92.70 per cent in dollar terms.
China emerged as the second largest seafood export destination from India in terms of quantity and dollar both with an import of 4,05,547 million tonnes worth $1,508.43 million, accounting for 23.37 per cent share in quantity and 18.64 per cent in dollar terms.
Exports to China market grew by 51.90 per cent in quantity, 32.02 per cent in rupee value and 28.37 per cent in dollar value.