April 8, 2022
Exports of rice, marine products, sugar, buffalo meat, raw cotton, and wheat drove export growth despite logistical challenges such as high freight rates, container shortages
Shipment of wheat grew by more than 273% as compared to the previous year
India accounts for nearly 50% of the global rice market
Despite multiple supply-side issues, export of spices reached US$ 4 billion for the second consecutive year
India’s exports of agricultural products, including marine and plantation products, increased by 20% to reach a record valuation of US$ 50 billion for 2021-22 as per provisional figures released by DGCIS. Increased shipments of rice, marine products, sugar, buffalo meat, raw cotton, and wheat drove export growth despite logistical challenges such as high freight rates, and container shortages.
Rice, wheat, sugar, and other cereals accounted for export valuations of US$ 9.65 billion, US$ 2.19 billion, US$ 4.6 billion, and US$ 1.08 billion respectively. Shipment of wheat grew by more than 273% as compared to the previous year. In addition, India accounts for nearly 50% of the global rice market. Despite multiple supply-side issues, the export of spices reached US$ 4 billion for the second year in a row, with coffee exports accounting for US$ 1 billion for the first time.
DGCIS’ statement also mentioned that this increase in agri exports was realised due to sustained efforts of the Department of Commerce, export promotion agencies like Agricultural and Processed Food Products Export Development Authority (APEDA), and Marine Products Export Development Authority (MPEDA), and various commodity boards.