Indian Seafood Exports Witnessed Decline Due to Reduced Demand and Rising Input Costs in Oct-23

In Oct-23, Indian seafood exports, such as fish and squid, experienced a decline influenced by multiple factors. These factors include reduced demand from significant markets like the European Union (EU) and Japan, exacerbated by the ongoing global economic slowdown. Moreover, rising input costs, particularly for fuel and feed, have further strained the Indian seafood industry by increasing the overall cost of production, making Indian seafood less competitive in the global market. Supply chain disruptions have also played a role in this decline.