Seafood Export:

• India’s overall seafood exports reached a record high of Rs 60,523 cr in FY24
• The US, Japan, China, Europe and Middle East are major importers of Indian seafood
• Frozen shrimp is the top export item, accounting for Rs 40,013 cr and 66% of total earnings
• AP is a major contributor to India’s seafood exports, with Vannamei shrimp being the top product

Visakhapatnam: Significant improvement in techno-economic parameters has transformed Visakhapatnam into a leading hub for export of seafood, mainly frozen shrimp in India.

According to official sources, Visakhapatnam Port Authority (VPA) emerged as the leading port in FY24 with the export of 3.14 lakh tonnes of seafood valued at Rs 17,983 crore followed by JNPT 2.40 lakh tonnes worth Rs 6,395 crore and Cochin Port 1.81 lakh tonnes valued at Rs 6,120 crore. Chennai and Kolkata Ports ranked fourth and fifth in seafood exported by Indian ports.

According to the Marine Products Export Development Authority (MPEDA), India exported 17.81 lakh tonnes of seafood valued at Rs 60,523 crore during 2023-24, of which the share of Andhra Pradesh was 32 per cent. Lion's share of exports from India originated from Andhra Pradesh.

"Most of the frozen shrimp, Vannamei (white-leg shrimp), an aquaculture product, exported from Andhra Pradesh and popular for its affordable price, taste and culinary ingredients, is in high demand in the United States, Japan, China, Europe and Middle East," an exporter from the city, told Bizz Buzz on Monday.

The target for Indian exports during the current fiscal has been set at $14 billion. Frozen shrimp fetched Rs 40,013 crore, occupied as the top item in the export basket during FY24 due to demand in major export markets in the USA and China. Shrimp exports during the year increased by 0.69 per cent in quantity and 66.12 per cent of the total dollar earnings.

Visakhapatnam Port officials said the major port in the city has established itself as the premier port in India for marine product shipments, helping the city to position at the forefront of the nation's seafood export sector. Exporters have been demanding initiatives for air cargo facilities at Visakhapatnam International Airport to tap full export potential of tuna as the global tuna fish market is growing at a fast pace. The present market is estimated at $45 billion.

India's seafood exports reached an all-time high in FY24, with a total of 17.81 lakh tonnes worth Rs 60,523.89 crore. This record-breaking volume was achieved despite facing challenges in overseas demand from major export destinations. India exported marine products to 132 countries, with the United States and China emerging as the leading importers. Frozen shrimp continued to dominate as the major export item.

A significant factor contributing to Visakhapatnam Port's top ranking is Andhra Pradesh's thriving aquaculture industry, particularly its high production of Vannamei shrimp varieties. Additionally, seafood exports from Odisha have also bolstered Visakhapatnam Port's leading position.

"The remarkable performance of Visakhapatnam Port underscores the port's strategic importance and efficiency in handling large volumes of seafood exports, significantly contributing to India's burgeoning seafood industry," a VPA official pointed out.