India’s marine delicacies exports surged to an unprecedented pinnacle in magnitude all through the monetary 12 months 2023-24, regardless of confronting hindrances in major export arenas. India dispatched 1,781,602 metric tons of marine fare valued at ₹60,523.89 crore (US$7.38 billion) throughout this timeframe, as per figures from the Commerce Ministry.
Flash-frozen prawns retained their dominance because the premier export commodity in each amount and value, with america and China rising as pivotal purchasers of Indian aquatic delights. In FY 2023-24, exports witnessed a 2.67 p.c uptick in amount in comparison with the previous 12 months. Throughout FY 2022-23, India exported 1,735,286 metric tons of marine delicacies valued at ₹63,969.14 crore (US$8,094.31 million).
D V Swamy, Chairman of the Marine Merchandise Export Growth Authority (MPEDA), accentuated that India attained a historic zenith in marine delicacies exports by dispatching 1,781,602 metric tons valued at US$ 7.38 billion, however the impediments encountered in key export markets such because the USA, European Union, and the UK.
Flash-frozen prawns remained the predominant article in India’s marine delicacies export repertoire, garnering Rs 40,013.54 crore (US$ 4,881.27 million), embodying 40.19 p.c of your complete quantity and contributing 66.12 p.c to the general greenback earnings. Prawn exports exhibited a modest 0.69 p.c augmentation in amount in the course of the length.
Within the fiscal 12 months 2023-24, India dispatched 716,004 metric tons of flash-frozen prawns. The USA emerged because the foremost importer, receiving 297,571 metric tons, trailed by China (148,483 MT), the European Union (89,697 MT), Southeast Asia (52,254 MT), Japan (35,906 MT), and the Center East (28,571 MT).
Different notable export objects embody flash-frozen fish, the runner-up when it comes to worth, which raked in Rs 5,509.69 crore (US$671.17 million). It constituted 21.42 p.c of the mixture amount and 9.09 p.c of the whole earnings in US {dollars}. Though there was a 3.54 p.c escalation in amount and a marginal 0.12 p.c surge in worth in rupee phrases, there was a 2.31 p.c downturn in US greenback earnings.
Chilled commodities, rating seventh, exhibited promising enlargement with a 47.06 p.c surge in amount and an 8.66 p.c uptick in US greenback earnings.
Principal Export Shops Within the realm of worldwide markets, the USA retained its preeminence because the principal importer of Indian marine delicacies by price, with imports amounting to US$2,549.15 million whereas China (excluding Hong Kong and Taiwan) emerged because the second-largest recipient for Indian marine delicacies exports when it comes to US {dollars}, importing 451,363 metric tons valued at US$1,384.89 million, signifying a 25.33 p.c stake by amount and 18.76 p.c in US greenback phrases.
Japan secured the third spot, Vietnam the fourth, Thailand the fifth, Canada the sixth, Spain the seventh, and Belgium the eighth amongst Indian marine delicacies export locations, with a 2.42 p.c share by US {dollars}, succeeded by the United Arab Emirates (UAE) with a 2.15 p.c stake and Italy with a 2.14 p.c curiosity. Collectively, these high 10 markets accounted for 79.89 p.c of Indian marine delicacies exports in US greenback phrases.