India achieved an all-time high export of seafood both in terms of volume and value (both US$ and Rupee) by shipping 17,35,286 MT of seafood worth Rs. 63,969.14 crore (US$ 8.09 billion) during FY 2022-23 despite several challenges in its major export markets like the US.
During the FY 2022-23, the exports improved in quantity terms by 26.73 per cent, in Rupee terms by 11.08 per cent, in US$ terms by 4.31 per cent. In 2021-22, India had exported 13,69,264 MT of seafood worth Rs 57,586.48 crore (US$ 7,759.58 million).
Frozen shrimp remained the major export item in terms of both quantity and value while the USA and China turned out to be the major importers of India’s seafood. Frozen shrimp, which earned Rs 43,135.58 crore (US$ 5481.63 million), 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 US$ earnings. 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 MT. The US, the largest market, imported (2,75,662 MT) of frozen shrimp, followed by China (1,45,743 MT), European Union (95,377 MT), South East Asia (65,466 MT), Japan (40,975 MT), and the Middle East (31,647 MT).
The export of black tiger (BT) shrimp increased by 74.06%, 68.64% and 55.41 per cent in quantity, Rupee value and US$ terms respectively in 2022-23. BT shrimp exported to the tune of 31,213 MT worth Rs 2,564.71 Cr (US$ 321.23 million). Japan turned out to be the major market for Black Tiger shrimp with a share of 25.38 per cent in terms of US$ value, followed by the European Union (25.12 per cent) and the USA (14.90%). The Vannamei shrimp exports declined in 2022-23 compared to 2021-22 by 8.11 per cent from US$ 5234.36 million to US$ 4809.99 million.
Frozen Fish, the second largest exported item, fetched Rs. 5,503.18 crore. (US$ 687.05 million) accounting for 21.24 per cent in quantity and 8.49 per cent in US$ earnings. This year the export of Frozen fish has increased by 62.65, 58.51 and 45.73 per cent in Quantity, Rupee and US$ value terms respectively.
Under Other items, the third largest export basket worth US$ 658.84 million, Surimi fetched Rs. 2,013.66 crore (US$ 253.89 million), frozen Octopus fetched Rs. 725.71 crore (US$ 91.74 million), Surimi Analogue products fetched Rs. 558.51 crore (US$ 70.35 million), canned products fetched Rs. 326.48 crore (US$ 41.56 million), frozen lobster fetched Rs. 215.15 crore (US$ 27 million), along with other products.
Frozen Squid, the fourth largest export item, fetched Rs 3593.75 crore (US$ 454.61 million), accounting for 4.83 per cent share in quantity and 5.62 per cent in US$ earnings. The export of frozen fish increased by 28.07 per cent in Rupee value and 18.58 % in US$ value.