India’s seafood exports touched an all-time high in volume during FY24 despite various challenges in significant export markets, the Ministry of Commerce & Industry said on Wednesday.

India shipped 17,81,602 MT of seafood worth Rs 60,523.89 crore (USD 7.38 billion) during 2023-24.

Frozen shrimp remained the major export item in quantity and value while the US and China became the major importers of India’s seafood. During FY 2023-24, the export improved in quantity terms by 2.67 per cent. In 2022-23, India exported 17,35,286 MT of seafood worth Rs 63,969.14 crore (USD 8,094.31million), data from the ministry said.

“India recorded an all-time high export in terms of volume by shipping 17,81,602 MT of seafood worth USD 7.38 billion, despite the several challenges in its major export markets like the US, EU & the UK,” said D V Swamy IAS, Chairman, Marine Products Export Development Authority (MPEDA), said.

Frozen shrimp, which earned Rs 40,013.54 crore (USD 4881.27million), retained its position as the top item in the seafood export basket, accounting for a share of 40.19 per cent in quantity and 66.12 per cent of the total dollar earnings. Shrimp exports during the period increased by 0.69 per cent in quantity terms.

The export of frozen shrimps during 2023-24 was pegged at 7,16,004 MT. The USA, the largest market, imported 2,97,571 MT of frozen shrimp, followed by China (1,48,483MT), the European Union (89,697 MT), Southeast Asia (52,254MT), Japan (35,906MT), and the Middle East (28,571 MT).

The export of black tiger (BT) shrimp increased by 24.91 per cent , 11.33 per cent and 8.28 per cent in quantity, value Rs and USD terms, respectively, in 2023-24.

BT shrimps were exported to the tune of 38,987 MT worth Rs 2855.27 Cr (USD 347.84 million). China (including Hong Kong) turned out to be the major export destination for black tiger shrimp with a share of 28.43 per cent in terms of USD value, followed by the USA (18.21 per cent), European Union (18.06 per cent) and Japan (13.12 per cent).

Scampi exports have shown a positive trend of 6.42 per cent , 23.22 per cent and 18.96 per cent in quantity, value Rs and USD terms, respectively, in 2023-24.

The Vannamei shrimp exports have grown in 2023-24 by 0.33 per cent by volume; however, they declined by 11.56 per cent from USD 4809.99 million to USD 4253.86 million.

Further, the frozen fish, the second largest exported item, fetched Rs 5,509.69 crore (USD 671.17 million), accounting for 21.42 per cent in quantity and 9.09 per cent in USD earnings.

This year, the export of frozen fish increased by 3.54 per cent and 0.12 per cent in quantity and value ₹ terms, respectively; however, it declined by 2.31 per cent in USD terms.

As for overseas markets, the USA continued to be the major importer of Indian seafood in value terms, with an import worth USD 2,549.15 million, accounting for a share of 34.53 per cent in terms of USD value.

China, excluding Hong Kong and Taiwan, emerged as the second largest seafood export destination country for India in terms of USD with an import volume of 4,51,363 MT worth USD1,384.89 million, accounting for 25.33 per cent share in quantity and 18.76 per cent in USD terms.

While Japan is the third largest importer, with a share of 6.06 per cent in quantity and 5.42 per cent in USD value terms.