Seafood exports up 4.31% to $8.09 bn in 2022-23, on jump in shrimp trade

India’s seafood exports rose by 4.31 per cent to USD 8.09 billion in 2022-23 on account of a jump in the shipments of frozen shrimp, the commerce ministry said on Wednesday.

In volume terms, the exports increased to 17,35,286 tonnes in the last fiscal against 13,69,264 tonnes in 2021-22.

“Frozen shrimp remained the major export item in terms of both quantity and value while USA and China turned out to be the major importers of India’s seafood,” it said.

Frozen shrimp exports increased to USD 5.48 billion in 2022-23. The sector accounts for about 41 per cent of India’s total seafood exports in volume terms.

The US is the largest market of frozen shrimp, followed by China, the European Union, South East Asia, Japan, and the Middle East, the ministry said.

The other segments which recorded a healthy growth in exports include black tiger, shrimp, frozen fish, frozen octopus, canned products, and frozen lobster.

It added that the US continued to be the major importer of Indian seafood in value terms with an import worth USD 263 billion in the last fiscal.

“Exports to the US declined by 21.94 per cent in USD terms due to sluggish demand,” it said.

China emerged as the second-largest seafood export destination.