India’s seafood exports touched an all-time high of $5.78 billion (₹37,870.90 crore) in FY17 on robust demand for frozen shrimp and frozen fish in overseas markets.
India exported 11,34,948 tonnes and the figure in the previous year was 9,45,892 tonnes, valued at $4.69 billion.
While the US and South East Asia continue to be major importers, demand from the EU has also gone up substantially.
Frozen shrimp maintained its position as the top export item, accounting for 38.28 per cent in quantity and 64.50 per cent of the total earnings in dollar terms. Shrimp exports increased by 16.21 per cent in terms of quantity and 20.33 per cent in dollar terms.
Frozen fish was the second largest export item, accounting for 26.15 per cent in quantity and 11.64 per cent in dollar earnings.
The US imported 1,88,617 tonnes, accounting for 29.98 per cent in dollar terms. Exports to the US grew 22.72 per cent, 33 per cent and 29.82 per cent in terms of quantity, rupee value and dollar value, respectively.
South East Asia remained the second largest destination of marine products, with a share of 29.91 per cent in dollar terms, followed by the EU (17.98 per cent), Japan (6.83 per cent), West Asia (4.78 per cent), China (3.50 per cent) and other countries (7.03 per cent).