India shipped 17,35,286 MT of seafood worth Rs 63,969.14 crore (USD 8.09 billion) during 2022-23, despite heavy odds, which is all time high exports in volume and value (both USD and Rupee) terms.
Frozen shrimp remained the major export item in terms of quantity, value both while USA and China turned out to be the major importers of India’s seafood.
During the FY 2022-23, the export improved in quantity terms by 26.73%, in rupee terms by 11.08%, in USD terms by 4.31%. In 2021-22, India had exported 13,69,264 MT of seafood worth Rs 57,586.48 crore (USD 7,759.58 million).
Shri D V Swamy IAS, Chairman, Marine Products Export Development Authority (MPEDA), said India managed to do all time high exports export worth US$ 8.09 billion with volume of 17,35,286 MT of seafood, despite the several challenges in its major export markets like USA.
Frozen shrimp, which earned Rs 43,135.58 crore (USD 5481.63 million), retained its position as the most significant item in the basket of seafood exports, accounting for a share of 40.98% in quantity and 67.72% of the total dollar earnings. Shrimp exports during the period increased by 1.01 % in Rupee value.
The overall export of frozen shrimps during 2022-23 was pegged at 7,11,099 MT. USA, 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% in quantity, Rupee value and USD terms respectively in 2022-23. BT shrimp exported to the tune of 31,213 MT worth Rs 2,564.71 Cr (USD 321.23 million). Japan turned out to be the major market for Black Tiger shrimp with a share of 25.38% in terms of USD value, followed by European Union (25.12%) and USA (14.90%). The Vannamei shrimp exports declined in 2022-23 compared to 2021-22 by 8.11% from USD 5234.36 million to USD 4809.99 million.
Frozen Fish, the second largest exported item, fetched Rs. 5,503.18 Cr. (USD 687.05 million) accounting for 21.24% in quantity and 8.49% in USD earnings. This year the export of Frozen fish has increased by 62.65%, 58.51% and 45.73% in Quantity, Rupee and USD value terms respectively.
Under Other items, the third largest export basket worth USD 658.84 million, Surimi fetched Rs. 2,013.66 crore (USD 253.89 million), fr. Octopus fetched Rs. 725.71 crore (USD 91.74 million), Surimi Analogue products fetched Rs. 558.51 crore (USD 70.35 million), canned products fetched Rs. 326.48 crore (USD 41.56 million), fr. lobster fetched Rs. 215.15 crore (USD 27 million), along with other products.
Frozen Squid, the fourth largest export item, fetched Rs 3593.75 crore (USD 454.61 million), accounting for 4.83 per cent share in quantity and 5.62 per cent in dollar earnings. The export of frozen fish increased by 28.07% in Rupee value and 18.58 % in dollar value.
Export of Dried Items, pegged at 2,52,918 MT, showed a tremendous growth of 243.27% in quantity and 167.70 % in dollar terms, and earned Rs 3,080.92 crore (384.05 USD millions). Under this basket, Dried fish and shrimp meal together contributed USD 307.96 million and dried fish maws fetched USD 24.88 million.
Export of frozen Cuttlefish, pegged at 54,919 MT, showed a growth of 14.09 % in rupee value and 5.50 % in USD value, and earned Rs 2353.34 crore (295.49 USD millions).
Export of chilled items, which is considered as a promising sector, also increased by 20.73 % in USD terms and 12.63 % in Quantity terms.
Export of live Items, pegged at 7,824 MT, showed a growth of 24.53% in Rupee, 15.61% in USD value. Growth is observed in the unit values of frozen squid (7.13%), frozen cuttlefish (13.33%), chilled items(7.19%) and live items(3.90%).
As for overseas markets, USA continued to be the major importer of Indian seafood in value terms with an import worth USD 2,632.08 million, accounting for a share of 32.52 % in terms of USD value. Exports to US declined by 21.94% in USD terms due to sluggish demand. Frozen shrimp continued to be the principal item exported to US with share of 92.70% in USD terms. Exports of black tiger shrimp to US increased by 4.06% in quantity terms and 0.26% in Rupee terms.
China emerged as the second largest seafood export destination from India in terms of Quantity and USD both with an import of 4,05,547 MT worth USD 1,508.43 million, accounting for 23.37% share in quantity and 18.64% in dollar terms. Exports to China market grew by 51.90% in quantity, 32.02% in Rupee value and 28.37% USD value. Frozen shrimp, the major item of exports to China, had a share of 35.94% in quantity and 60.92% in dollar value while the frozen fish had a second most share of 34.88% in quantity and 18.56% in terms of USD value out of the total exports to China. Frozen shrimp and frozen fish to China has shown positive growth by quantity and value both.
European Union continued to be the third largest destination with an import of 2,07,976 MT worth USD 1,263.71 million. In this market, frozen shrimp is the major item of exports, registering an increase of 15.12% and 7.20% in Rupee and dollar value, respectively. Unit value in this market shown a growth of 3.77%
South East Asia is the fourth largest market with an import of 4,31,774 MT worth USD 1191.25 million. frozen shrimp, is the major item of exports, with 15.16% share by quantity and 35.17% by USD value with growth of 46.08%. frozen fish, the second major item of exports, with 36.02% share by quantity and 20.57% by USD value with growth of 46.84%.
Japan continued to be the fifth largest importer with a share of 6.29% in quantity and 5.99% in USD value terms with a growth of 9.99 %. Frozen shrimp continued to be the major item of exports to Japan with % share of 71.35% and growth of 5.26% in USD value.
Exports to the Middle East by Quantity were 77,677 MT worth US$ 330.68 million. This market showed a growth of 32.95% in quantity, 17.33% in Rupee and 9.09% in dollar terms.