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India's seafood exports up in volume terms; dip in value in FY24: Commerce ministry

20 Jun 2024 Evaluate

The commerce ministry in its latest data has said that India's seafood exports have recorded a growth of 3 per cent in volume terms, but a decline of about 8 per cent in value during the last financial year (FY24). Exports in volume terms have increased to 17,81,602 MT (tonnes) worth $7.38 billion during 2023-24 as against 17,35,286 MT ($8.0 billion) in 2022-23.

It stated that frozen shrimp, with exports of $4.88 billion, 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 in dollar terms. The US was the largest market for frozen shrimp (2,97,571 MT) in the last fiscal. It was followed by China (1,48,483 MT), the European Union (89,697 MT), Southeast Asia (52,254 MT), Japan (35,906 MT), and the Middle East (28,571 MT). The ministry said that black tiger shrimp exports too recorded healthy growth.

D V Swamy, Chairman of Marine Products Export Development Authority (MPEDA), said ‘India recorded an all-time high export in terms of volume by shipping 17,81,602 MT of seafood...despite the several challenges in its major export markets like the USA, European Union and the UK.’


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