Agricultural and processed food exports up by 10% in first 10 months of FY23

This growth was driven by increased shipments of rice, fruits, vegetables, livestock, and dairy products

March 6, 2023

This growth was driven by increased shipments of rice, fruits, vegetables, livestock, and dairy products

The value of Basmati rice exports from April to January 2022-23 rose by more than 41% on year to US$ 3.8 billion

During the April-January period, exports of processed fruits and vegetables grew by 29% to US$ 1.6 billion

The Agricultural and Processed Food Products Export Development Authority (APEDA) has set an export target of US$ 23.5 billion for this fiscal year

Exports of Indian agricultural and processed food products increased by 10% to reach US$  21.79 billion during the first ten months of FY23, compared to the same period the previous year, according to a report from the Directorate General of Commercial Intelligence and Statistics. This growth was driven by increased shipments of rice, fruits, vegetables, livestock, and dairy products. 

The value of Basmati rice exports from April to January 2022-23 rose by more than 41% on year to US$ 3.8 billion, while non-Basmati rice exports grew by 3.3% to US$ 5.1 billion. Additionally, the United States Department of Agriculture (USDA) stated that India remains the most competitively-priced source for Asian rice, with India’s broken-kernel rice quoted at US$ 435/tonne last month. 

During the April-January period, exports of processed fruits and vegetables grew by 29% to US$ 1.6 billion, while dairy products saw a growth of 10% to US$ 512 million. 

The APEDA has set an export target of US$ 23.5 billion for this fiscal year, and other key agricultural products exported from the country include marine products, spices, tea, coffee, and tobacco. In 2021-22, exports of products under the APEDA basket amounted to US$ 25.6 billion, which was around 51% of the country’s total agricultural goods exports of more than US$ 50 billion.

Commerce ministry officials attribute the rise in agricultural and processed food products exports to various government initiatives, such as organizing B2B exhibitions, tie-ups with global hypermarket chains, and exploring new markets through product-specific marketing campaigns with the active involvement of Indian missions.

Source: Financial Express

Recent Articles

India and Greece Forge Strategic Alliances

February 22, 2024

India and Greece agreed to collaborate on the co-production and …

Read More

EPFO Records Significant Surge in Formal Job Creation

February 21, 2024

In December, formal job creation within the Employees’ Provident Fund …

Read More

Europe a priority for India: EAM S Jaishankar

February 21, 2024

S Jaishankar, the Minister of External Affairs, highlighted the paramount …

Read More