Indian seafood prices are the highest in the developing world, according to an annual report by the global seafood trade organisation Euromonitor International.
The organisation, which gathers seafood statistics and research, found the price of the nation’s most expensive foodstuffs in India was the most affordable.
India has the world’s highest per capita consumption of red snapper, the most popular of the sea creatures, at an average of 546 kilograms ($7,500) per person per year, Euromonitors said.
A similar average of 762 kilograms per person was recorded for lobster.
Its the most pricey seafood in Asia, followed by China, Taiwan and Japan, Euromitor said.
Its also the most lucrative for the fish processors and producers.
The seafood is exported to all the world over the next two years, it said.
This year, the price is set to rise as India is expected to increase its exports of shrimp and fish by 20 per cent to $40 billion ($42 billion).
The report, which is due to be released on Tuesday, found that prices of all the seafoods and fish species were higher in China, India, South Korea, Indonesia, Turkey and Vietnam than in the US.
The most expensive fish in the United States was cod, the highest, with a price of $859 per kilogram, followed closely by carp, cod and king mackerel at $936 per kilo.
For example, carp fetched $7,086 per kilowatt-hour in the Los Angeles area, while king mackellere fetched a whopping $8,500 per kilometre, Euronomitors said in a statement.
The report said the prices of Indian seafoods were higher than in some other regions.