Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Image: Stockfile FIS

India’s seafood exports reach record high

Click on the flag for more information about India INDIA
Thursday, June 20, 2024, 07:00 (GMT + 9)

Frozen shrimp continued to be the top export item, both in quantity and value

India's seafood exports achieved a record high in volume for the financial year 2023-24, overcoming challenges in major export markets like the USA, EU, and the UK. The country exported 1,781,602 metric tons (MT) of seafood worth ₹ 60,523.89 crore (US$ 7.38 billion), a 2.67% increase in quantity from the previous year, although the value showed a slight decline from ₹ 63,969.14 crore (US$ 8.09 billion) in 2022-23.

Source:Amazon

Here are some key takeaways from official data released by the Ministry of Commerce and Industry on Wednesday (June 19, 2024):

Leading Export Items and Markets

Frozen shrimp continued to be the top export item, both in quantity and value. During FY 2023-24, India exported 716,004 MT of frozen shrimp, earning ₹40,013.54 crore (US$4.88 billion), which accounted for 40.19% of the total export quantity and 66.12% of the total earnings in US dollars. The United States and China remained the largest markets for Indian seafood, with the USA importing 297,571 MT of frozen shrimp, followed by China with 148,483 MT.

Source: Baidu-->

The export of black tiger (BT) shrimp saw significant growth, increasing by 24.91% in quantity, 11.33% in value (₹), and 8.28% in US$ terms. A total of 38,987 MT of black tiger shrimp worth ₹2,855.27 crore (US$347.84 million) was exported, with China, including Hong Kong, being the major destination, followed by the USA, the European Union, and Japan.

Scampi exports also showed a positive trend with increases of 6.42% in quantity, 23.22% in value (₹), and 18.96% in US$ terms. Conversely, Vannamei shrimp exports grew by 0.33% by volume but declined by 11.56% in US dollar terms.

Other Major Export Items

Frozen fish, the second-largest export item, fetched ₹5,509.69 crore (US$671.17 million), accounting for 21.42% of the total export quantity. The export of frozen fish increased by 3.54% in quantity and 0.12% in value (₹), although it saw a 2.31% decline in US$ terms.

<-- Source: Ocean Treasure

Fish and shrimp meal and feed, which are non-edible dried items, constituted the third most prominent item in the export basket, earning ₹3,684.79 crore (US$449.17 million). This category saw an increase of 15.99% in quantity, 34.07% in value (₹), and 31.52% in US$ terms.

Frozen squid and cuttlefish were other significant export items. Frozen squid fetched ₹3,061.46 crore (US$373.40 million), increasing by 11.52% in quantity, while frozen cuttlefish earned ₹2,252.63 crore (US$274.62 million).

Emerging Export Sectors

The export of chilled items, considered a promising sector, increased by 47.06% in quantity and 8.66% in US$ terms. Frozen octopus, fish oil, live items, dried edible items, frozen lobster, and fish maws also contributed to the diverse seafood export portfolio.

The USA remained the largest importer of Indian seafood, accounting for 34.53% of the total US$ value, with imports worth US$2.55 billion. Frozen shrimp was the principal item exported to the USA, with black tiger shrimp exports increasing by 35.37% in quantity.

China emerged as the second-largest destination, importing 451,363 MT worth US$1.38 billion. Exports to China grew by 12.80% in quantity, though there was a slight decline in value terms. Frozen shrimp and fish were the major items exported to China.

Japan ranked as the third-largest importer, primarily importing frozen shrimp. Vietnam and Thailand followed, with Vietnam importing 132,086 MT worth US$391.41 million and Thailand 138,457 MT worth US$281.97 million. Both countries mainly imported frozen shrimp and fish.

Fuente: MPEDA -->

The Marine Products Export Development Authority (MPEDA) has launched several initiatives to double the share of value-added seafood exports by 2030, aiming for 20% of total exports to consist of value-added products. Training programs are being organized to enhance the quality and processing standards of seafood exports, further boosting India's competitiveness in the global market.

Odisha, a significant contributor to India's seafood exports, has launched a new scheme to promote the processing and value addition of fish, aiming to increase export competency. The state exported seafood worth ₹4,560 crore last financial year, with a total production of around 10 lakh metric tons.

India's seafood export sector has demonstrated resilience and growth, achieving a record high in export volumes for FY 2023-24. With ongoing initiatives to enhance value addition and processing capabilities, India is poised to further strengthen its position in the global seafood market.

Source: India News Network 

logo

[email protected]
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS



Lenguaje
FEATURED EVENTS
  
TOP STORIES
FAO Fisheries Committee Meets to Address Global Challenges in Aquatic Food Systems
Italy The 36th session of the Committee on Fisheries (COFI36) of the Food and Agriculture Organization of the United Nations (FAO) began today in Rome, bringing together key policy makers, experts and partn...
Alpescas condemns murder of fishing leader Minerva Pérez in Mexico
Mexico The alliance views with concern these acts that may be related to cartels or mafias that operate with illegal fishing, which is why they urge governments and authorities to put emphasis on comba...
Federal Government Recognizes Seafood as a High-Priority Sector for Enforcement Under the Uyghur Forced Labor Prevention Act
United States The Forced Labor Enforcement Task Force (FLETF) updated its strategy to prevent the importation of goods produced through forced labor in the People’s Republic of China by designating seafood as...
Indian Ocean squid price index: Flying squid (Ommastrephes bartramii)
China In order to continuously enhance the ability to control squid resources and price influence, and conduct more accurate resource assessment and forecasting, the China Ocean Fisheries Association&n...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER