News/City Updates

Visakhapatnam Port Leads India’s Marine Cargo Exports in 2023-24

In the financial year 2023-24, Visakhapatnam port led the country in marine cargo exports, with the seafood valued at Rs 17,989 crore. This figure represents approximately 29.7% of India’s total marine cargo exports for the year. The port handled around 3.14 lakh metric tonnes of marine cargo, translating to a business volume of $2,194 million. Andhra Pradesh, a major center for aquaculture with nearly 30% of the nation’s marine exports, played a crucial role in these figures from Visakhapatnam. The port also serves as a key export hub for neighboring states.

Jawaharlal Nehru Port in Navi Mumbai followed, contributing Rs 6,396 crore to marine exports, capturing an 11% share. Other notable ports included Kochi, Chennai, and Kolkata.

In 2023-24, India exported marine products to 132 countries, with frozen shrimp being the top export item, comprising 40.19% of the quantity and 66.12% of the total earnings in USD. Andhra Pradesh, reaching a milestone of Rs 1.5 lakh crore in exports in 2022-23, including marine products, ranked sixth among all states and continues to increase its export volume and value yearly.

As Visakhapatnam port was the top exporter of seafood, frozen shrimp dominated India’s marine exports in 2023-24, followed by frozen fish, which accounted for 21.42% of the quantity and 9.09% of the USD earnings. Fish and shrimp meal and feed, classified as non-edible dried items, ranked third, showing a significant growth in exports. Frozen squid was the fourth largest export item, earning Rs 3,061.46 crore and accounting for 5.25% of the quantity and 5.06% of the dollar earnings, with an 11.52% increase in quantity terms. Surimi and surimi analogs, the fifth largest export, reached 1,35,327 MT, growing 4.12% in quantity and earning Rs 2,414.43 crore. Additionally, crab, tuna, and tilapia exports showed positive growth trends.

Read also- Visakhapatnam Port: 8 historical facts about the global top 20 port that is making India proud

Stay tuned to Yo! Vizag website and Instagram for more city and news updates.

This post was last modified on 25/06/2024 3:05 pm

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