Visakhapatnam Port Authority (VPA) has emerged as the leader in India’s seafood export sector for the fiscal year 2023-24, handling 3,14,199 tonnes of seafood valued at ₹17,983.99 crore. This achievement underscores the port’s pivotal role in facilitating substantial exports and contributing significantly to the nation’s economy.
Top Performers in Seafood Exports
Following closely behind Visakhapatnam Port, Jawaharlal Nehru Port Authority (JNPA) secured the second position by handling 2,40,253 tonnes of seafood valued at ₹6,395.70 crore. Cochin Port ranked third, managing 1,81,400 tonnes valued at ₹6,120 crore. These ports have collectively bolstered India’s position as a major player in global seafood trade.
Growth and Market Dynamics
In the fiscal year 2023-24, Visakhapatnam Port’s seafood exports reached an impressive volume of 3.14 lakh tonnes, with a corresponding value of ₹17,984 crore. This substantial growth highlights the port’s strategic advantage in handling marine exports, particularly from Andhra Pradesh’s thriving aquaculture sector. Additionally, exports from Odisha routed through Visakhapatnam Port have further bolstered its leadership in the seafood export market.
Market Insights and Trends
Indian seafood exports in the previous fiscal year totaled 18 lakh tonnes, setting an all-time high in volume and valued at ₹60,534 crore. The United States and China emerged as the top export destinations for Indian seafood products, with frozen shrimp being the most sought-after commodity.
Conclusion
Visakhapatnam Port’s dominant position in seafood exports underscores its critical role in India’s maritime trade landscape. With continued growth and strategic initiatives, including robust infrastructure and efficient logistics, the port is poised to further strengthen its global footprint in the seafood export market. As India continues to expand its seafood export capabilities, Visakhapatnam Port remains pivotal in driving economic growth and facilitating trade opportunities on a global scale.