India’s seafood exports soared to an all-time high in volume during FY24, overcoming numerous challenges in major markets like the USA, EU, and the UK. The country exported 1,781,602 metric tons (MT) of seafood, valued at $7.26 billion. This marked a 2.67% increase in export volumes compared to the previous fiscal year when 1,735,286 MT of seafood worth $7.67 billion were exported. The Chairman of the Marine Products Export Development Authority (MPEDA), Mr. D V Swamy IAS, proudly highlighted this achievement.
Frozen shrimp led the export market, generating $4.80 billion and constituting 40.19% of the total quantity and 66.12% of total dollar earnings. Shrimp exports rose by 0.69% in quantity, with 716,004 MT shipped in 2023-24. The USA was the largest importer, taking in 297,571 MT, followed by China with 148,483 MT, the European Union with 89,697 MT, Southeast Asia with 52,254 MT, Japan with 35,906 MT, and the Middle East with 28,571 MT.
Black tiger (BT) shrimp exports saw substantial growth, increasing by 24.91%, 11.33%, and 8.28% in quantity terms, totaling 38,987 MT and valued at $342.3 million. China, including Hong Kong, was the major destination for BT shrimp, accounting for 28.43% of the value, followed by the USA at 18.21%, the European Union at 18.06%, and Japan at 13.12%. Scampi exports also experienced positive trends, increasing by 6.42%, 23.22%, and 18.96% in quantity. However, while Vannamei shrimp exports grew by 0.33% in volume, their value declined by 11.56%, dropping from $4.81 billion to $4.25 billion.
