Myanmar Overtakes Bangladesh as Top Hilsa Supplier to India

The diplomatic backdrop also changed. Myanmar's junta chief, Min Aung Hlaing, visited New Delhi in late May, his first trip since the 2021 coup. The visit coincided with deepening trade ties. Bangladesh, on the other hand, has seen trade tensions rise after the interim government took over last year. The interim government reinstated the export ban in September 2024, then quickly replaced it with a tightly regulated quota system.

Demand for hilsa in India remains strong despite premium pricing. Wholesale prices range from ₹800 to ₹1,000 per kilogram. Even at elevated prices, buyers continue to seek good quality hilsa, especially during festivals, said Sheik Moinuddin, general manager at Kolkata-based Kamrun Trading Co. The key consumption hubs are West Bengal and Delhi, where rising incomes and regional cuisine trends have expanded the market.

Premium seafood retailers report growing interest in hilsa beyond the Bengali diaspora. The fish, once a seasonal purchase, now draws buyers across urban India, importers said.

India and Bangladesh have a bilateral trade of ₹109,226 crore in FY26, with a ₹77,709 crore surplus in India's favor. The two sides are negotiating a Comprehensive Economic Partnership Agreement. India-Myanmar trade stands at ₹17,304 crore, with Myanmar holding a ₹2,980 crore surplus. The two are working on a rupee-kyat settlement mechanism to boost trade.

Fresh hilsa supply from the Sundarbans is expected in two months, said Syed Anwar Maqsood, secretary of the West Bengal Fish Importers' Association. The next season's trade pattern will depend on whether Bangladesh eases its export quota and whether Myanmar maintains its price advantage, traders said.