July 18, 2022
Exports for agriculture and other processed food products stood at US$ 5.98 billion in the first quarter of FY23
About 25.4% of the total export target (US$ 23.56 billion) has been achieved in the first quarter of this year
Exports for food products like cereals and processed items increased by 36.4% year-on-year (YoY)
India’s exports of agricultural products grew by 19.92% during FY22 to US$ 50.21 billion
Exports of India’s agricultural and processed food products increased by 14% to US$ 5.98 billion in the first quarter of FY23, according to a statement released by the Ministry of Industry and Commerce.
The exports of these products stood at US$ 5.25 billion during the same period last year.
According to the statement, 25.4% of the total export target (US$ 23.56 billion) has been achieved in the first quarter of this year.
The export target for the April-June period of FY23 was US$ 5.89 million.
In the first quarter of FY23, exports for food products like cereals and processed items increased by 36.4% year-on-year (YoY), whereas exports of fresh fruits & vegetables (FnVs) grew by 8.6%. Exports of FnVs in the April-June period of 2021 were at US$ 642 million, and have increased to US$ 697 million during the same period, this year.
Rice exports increased by 13% in the first quarter of FY23, while the export of meat, dairy and poultry products grew by 9.5%. For other cereals, the exports rose by 29%. Dairy products were exported at US$ 1.12 billion during Q1 of 2022, compared to a million last year.
India’s exports of agricultural products grew by 19.92% during FY22 to US$ 50.21 billion, as per the statement.
Experts say that the growth in India’s agricultural and processed food exports in the present year will be sustained by creating an eco-system of exports by collaborating with key stakeholders in the agri-exports value chains.