INDIAN SEAFOOD INDUSTRY


Seafood industry is one of the largest trading sectors in the world. We will now find the top seafood exporters in the world. Global seafood Market is projected to reach USD 155.32 billion by 2023. (Indebted to Statista report of 2020 for the figures shown here)

Figures shown below are in million US dollars.

EU  36.2
China 20.8
Norway 11.9
Vietnam 8.1
Chile 6.7
India 6.2
Thailand 5.8
US 5.5
Canada 5.5
Ecuador 5.4
Russia 5.4
Indonesia 4.7

Major importers of seafood in 2020.
Figures shown are in billion US Dollars

EU 56.5
US 22.4
China 21.5
Japan 13.8
South Korea 5.4
Thailand 3.4
Canada 3.1
Russia 2
Taiwan 1.7
Vietnam 1.7

According to a report by The Times of India dated June 5, 2021 India has exported 11,49,341 tonnes of seafood during FY21. According to a report by MPEDA, growth was found in export of Tilapia, Ornamental fish, Tuna. However negative growth was found in Scampi and Crab. Good quantity of frozen fish, frozen shrimp, frozen Squid, frozen Cuttlefish and dried items and live fishes were also exported.

USA is the major importer of Indian seafood followed by China, EU, South East Asia, Japan and Middle East. Canada, Russia, Bangladesh, Tiunisia, Dominican Republic etc also import seafood from India.

Seafood industry is a profitable one. If managed well observing the buyers terms there may not be financial risk. The youth of Kerala can boldly venture into this trade. Initially try to feed the existing exporters from sources outside Kerala.

K V George

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