India's Seafood Exports Hit Record Volume But Value Declines

India's seafood exports increased in volume by 3% to 17,81,602 MT in 2023-24, but declined in value by 8% to USD 7.38 billion. The USA remained the largest market for Indian seafood, with frozen shrimp being the top exported item. Despite challenges, black tiger shrimp and other seafood products showed healthy growth.

India's seafood exports have seen a significant shift, recording a 3% growth in volume but facing an 8% decline in value for the last financial year, Commerce Ministry data reveals.

Exports soared to 17,81,602 MT valued at USD 7.38 billion in 2023-24, up from 17,35,286 MT worth USD 8.0 billion in 2022-23, noted Marine Products Export Development Authority Chairman D V Swamy.

Frozen shrimp dominated the export scene, accounting for 40.19% of the quantity and 66.12% of the dollar earnings, with the US emerging as the biggest market. Other noteworthy exports included frozen fish, squid, Surimi, cuttlefish, and octopus.

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