AP yet again stands tall-Tops Exports chart
Seafood products exported from India have yet again broken a record in export figures, registering all-time high numbers.
As per the latest MPEDA (Marine Products Export Development Authority) figures marine products exports registered a whopping USD 8.09 billion (in FY 23) for a total quantity exported standing at 1735286 MT.
Out of the total export value of USD 8.09 billion a staggering USD 2.512 billion came from Andhra Pradesh with a total quantity of 328160 MT.
AP was by far the highest state in terms of export value, followed by Kerala at a distant of USD 1.05 billion, Maharashtra at USD 941 million, and Tamil Nadu at USD 879 million.
Frozen Shrimps remain, King
Frozen shrimp remained the major export item in terms of quantity, and value, while the USA and China turned out to be the major importers of India’s seafood.
Frozen shrimp, which earned Rs 43,135.58 crore (USD 5481.63 million), retained the total exports to China. Frozen shrimp and frozen fish in China have shown positive growth in quantity and value. 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.
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), the European Union (95,377 MT), South East Asia (65,466 MT), Japan (40,975 MT), and the Middle East (31,647 MT).
Black Tiger Shrimp Exports Zoom
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 the European Union (25.12%) and the USA (14.90%).
Vannamei Shrimp Exports fall
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.
As for overseas markets, the 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 the US declined by 21.94% in USD terms due to sluggish demand.
Frozen shrimp continued to be the principal item exported to the US with a share of 92.70% in USD terms. Exports of black tiger shrimp to the US increased by 4.06% in quantity terms.
China emerged as the second largest seafood export destination from India in terms of Quantity and USD accounting for 23.37% share in quantity and 18.64% in dollar terms.
Exports to the Chinese market grew by 51.90% in quantity, 32.02% in Rupee value, and 28.37% in USD value.
European Union continued to be the 3rd largest destination followed by South East Asia as the fourth largest & Japan as the fifth largest importer.
Exports to the Middle East were 77,677 MT worth US$ 330.68 million.