The Commerce Ministry has said that India achieved its all-time high export of seafood in FY 2022-23, surpassing previous records in both volume and value. India shipped 17.35 lakh MT seafood worth Rs. 63,969.14 crores ($ 8.09 billion) during this fiscal year, with year-on-year exports improving 26.73 percent in quantity terms, 11.08 percent in rupee terms and 4.31 percent in terms of the US dollar.
In comparison, during the previous fiscal year of 2021-22, India exported 13.69 lakh MT of seafood valued at Rs. 57,586.48 crores ($7,759.58 million).
Pointing to multiple challenges in major export markets like the United States, Commerce Ministry said that frozen shrimp remained the major export item in terms of both quantity and value while USA and China were the major importers of Indian seafood.
Exports of frozen shrimp were worth Rs. 43,135.58 crores ($ 5481.63 million), and retained their position as the most significant item in the basket of seafood exports, accounting for a share of 40.98 percent in quantity and 67.72percent of the total earnings in the US dollars.
While shrimp exports during the period increased by 1.01 percent in Rupee value, the overall export of frozen shrimps during FY 2022-23 was pegged at 7.11 lakh MT.
US 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 percent, 68.64 percent and 55.41 percent in quantity, Rupee value and US dollar terms respectively in 2022-23.
Japan turned out to be the major market for BT shrimp with a share of 25.38 percent in terms of US dollar value, followed by the EU at 25.12 percent and the US at 14.90 percent. Vannamei shrimp exports declined 8.11 percent in FY 2022-23 compared to FY 2021-22, from $ 5234.36 million to $ 4809.99 million.
Frozen Fish, the second largest exported item in the category, fetched Rs. 5,503.18 crores ($687.05 million) accounting for 21.24 percent in quantity and 8.49 percent in US dollar earnings.
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