Seafood Exports

FY25 seafood exports cross Rs 60,000 cr, govt eyes duty cuts in Budget 2025

The government has proposed reducing the Basic Customs Duty on several key inputs for shrimp and fish feed production to 5%

Govt aims to boost fishery sector by taking exports to Rs 1 trn per year

Union Minister Rajiv Ranjan Singh on Wednesday said the government is focusing on increasing annual seafood exports to Rs 1 lakh crore from around Rs 60,000 crore last fiscal and will also take measures to strengthen the foundation of the fishery sector over the next five years. Singh, who is Union Minister for Fisheries, Animal Husbandry & Dairying, was addressing an event to mark the 4th Anniversary of Pradhan Mantri Matsya Sampada Yojna (PMMSY) here. He also launched Pradhan Mantri Matsya Kisan Samridhi Sah-Yojna, and released the standard operating procedure on production & processing clusters in the fisheries sector. The minister noted that the fishery sector, which provides livelihood for more than 3 crore fishers and fish farmers, did not get due attention since independence. However, Singh said the Prime Minister Narendra Modi-led government has taken various decisions since 2014 for the growth of this important sector, including the launch of the PMSSY scheme with an .

Vizag beats Mumbai port; emerges as India's top seafood exporting gateway

Visakhapatnam Port emerged as India's top seafood exporting gateway, clocking an impressive shipment of 3.14 lakh tonnes, valued at Rs 17,984 crore in fiscal 2023-24, a port official said on Monday. Mumbai-based Jawaharlal Nehru Port Authority (JNPA), which handled over 2.4 lakh tonnes of seafood, valued at Rs 6,396 crore is ranked behind the Visakhapatnam port, followed by Cochin Port at the third position, logging over 1.81 lakh tonnes (Rs 6,120 crore). "Visakhapatnam Port has established itself as the premier port in India for marine product shipments, handling an impressive 3,14,199 tonnes of seafood valued at Rs 17,984 crore in FY24. This achievement positions Visakhapatnam Port at the forefront of the nation's seafood export sector," said Visakhapatnam Port Authority (VPA) secretary T Venu Gopal in a press release. According to Venu Gopal, India's seafood exports touched an all-time high of nearly 18 lakh tonnes in the previous fiscal, worth Rs 60,534 crore. Incidentally, thi

At $7.3 billion in FY24, India's seafood exports touched an all-time high

Frozen shrimp remained the leading export item in the Indian seafood basket, generating Rs 40,013.54 crore ($4,881.27 million), while the US emerged as the top market

'India aims to increase seafood exports to Rs 1 trillion in next 2 years'

Indian shrimp exporters follow a robust regulatory and safety regime, as it helps them to ship quality marine products to developed regions like the US and Europe, a senior government official said on Wednesday. India is aiming to increase seafood exports to Rs one lakh crore in the next two years by increasing its processing capacity and shifting to higher value-added products, the official added. Debunking certain reports of poor working conditions and safety standards, the official said India's 548 seafood units are regularly inspected and monitored by various government agencies. "These units follow world-class quality and standards, and the major export destinations are developed nations," the commerce ministry official said. Some reports that are alleging food safety and bad labour conditions in the Indian shrimp industry are wrong and baseless, the official noted. All units are registered with MPEDA (Marine Products Export Development Authority) and FSSAI (Food Safety and .

High capex, railway corridors, focus on seafood to boost India's exports

Announcements of measures in the interim Budget such as high capex, three major economic railway corridors, and a target to increase seafood exports would help boost the country's overall outbound shipments, exporters say. The government has proposed to step up the implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY) by enhancing aquaculture productivity from existing 3 tonne to 5 tonne per hectare, and setting up five integrated aqua parks. CII National Committee on Exports and Imports Chairman Sanjay Budhia said that the announcement of a Rs 1 lakh crore corpus for innovation with a 50-year interest-free loan for long-term financing, refinancing at no or nil interest rates will encourage the private sector to scale up R&D and innovation in sunrise domains and new age technologies. "There is a reinforcement of continued thrust on exports. Announcement of three economic corridors, multi-modal connectivity, emphasis on additional airports, etc. and doubling the target of .

Seafood exports more than doubled since 2013-15: Union Minister Rupala

Seafood exports have more than doubled since 2013-14 and touched nearly Rs 64,000 crore last fiscal Union Minister of Fisheries, Animal Husbandry & Dairying Parshottam Rupala on Wednesday said. "While the seafood exports stood at Rs 30,213 crore in 2013-14, the same has increased to Rs 63,969.14 crore during FY 2022-23, an increase of 111.73 per cent in spite of pandemic-imposed challenges in global markets," an official statement said. Indian seafood is exported to 129 countries, with the largest importer being the US. "In fact, the value of the cumulative exports for the 9-year period of 2014-15 to 2022-23 stood at Rs 3.41 lakh crore as against Rs 1.20 lakh crore for the 9-year preceding 2014-15 i.e. the period 2005-06 to 2013-14," the statement said. The minister informed that during the last 9 years, the annual fish production of India has increased from 95.79 lakh tonne (at the end of 2013-14) to an all-time record of 162.48 lakh tonne (at the end of 2021-22) -- an increase ..

CMFRI to strengthen sustainable harvest of selected trawl fishery in Kerala

In major attempt to boost seafood export, ICAR-CMFRI will provide technical support for strengthening the sustainable harvest of 11 selected shrimp and trawl fishery resources in Kerala

India's seafood exports to reach all-time high of $8 bn despite hurdles

Country's seafood exports are likely to reach an all-time high of $ 8 billion in FY 2022-23 despite three years of a sluggish global market caused by the pandemic, logistical hurdles

India's seafood exports narrowly miss $7-billion target for 2019-20

Among factors that impacted exports were sluggish demand, cancellation of orders, and reduced & delayed payments

Coronavirus impact: Seafood exports to China unlikely to be affected

During April-December 2019, total seafood exports to China rose by 75 per cent to $1.032 billion

Revival in production and exports buoys seafood firms: CRISIL SME Tracker

CRISIL Research expects the industry to grow 5-7 per cent year-on-year, compared with 6-7 per cent in the last fiscal year

Seafood export rises 22% to nearly $7.1 billion in 2017-18

The US took the largest share of Indian seafood, at $2.3 billion or 32.8%

India's seafood exports increase 13% despite fall in global shrimp prices

India exported 1,085,378 tonnes of seafood till January in FY18 against 954,744 tonnes shipped in the corresponding period of FY17

No fishy business: New restrictions on Indian marine exports to EU unlikely

An EU inspection team is reported to have expressed its satisfaction with the marine product export procedure followed in the country

EU delegation's Nov visit sparks fears of ban among seafood exporters

EU team to visit Odisha first and then proceed to other states

Indian seafood exports surges by as much as 21% in Q1

The growth is recorded at a time when a ban from European Union (EU) is looming large over quality issues

Seafood exporters look at alternatives to US, Europe

With the European Union (EU) and United States (US) adopting various restrictive measures to curb seafood import, Indian exporters are exploring new markets.India exported $5.8 billion (Rs 37,870 crore) of seafood products in 2016-17. The US was the largest market; the EU was third."We believe that in the short and middle term, Indian seafood exporters would look at other markets like Japan, Korea, CIS, Eastern Europe and the Middle East. Developing these markets further for products from India should be the next logical step for MPEDA (Marine Products Export Development Authority) and the industry. China and Vietnam continue to be strong buyers and there are strong signs of substantial increase in India's export quantities to these two markets," said Rahul Kulkarni, director, WestCoast Group, a leading shipper. Rajen Padhy, a seafood trader, agreed: "With the EU restrictions and anti-dumping duty in the US, the focus has shifted to East Asia and Southeast Asia."China, Vietnam and ...

Seafood exports to the US face quality issues

he US is the top destination for Indian seafood export

US eases rules for Indian seafood export

The Food and Drug Administration in the USA has issued a list of 140-odd Indian seafood exporting entities to be excluded from that country's restrictive 'Detention Without Physical Examination (DWPE)' ambit.US import in 2016-17 was 188,617 tonnes of Indian seafood, amounting to $5.8 billion or nearly Rs 38,000 crore, about 22.7 per cent more in quantity over the previous year and 30 per cent in dollars."The names of exporters in the list are exempted from detention but are subject to random examination by the US authorities and the list is revised from time to time," said the spokesman of a large exporting company."Districts may detain, without physical examination, all fresh (raw), fresh frozen, and cooked shrimp from India, except shipments from those firms listed as exempt in the Green List to this alert," the FDA said.This positive development for Indian entities comes when the American Shrimp Processors Association has named India, Indonesia, Thailand, Vietnam, Mexico, China ...