New Delhi, Mar 31 (KNN) The agricultural and processed food products exports from India have increased by 9 per cent to USD 23.1 billion during the first 11 months of the current fiscal (2022-23) compared to the same period last year, according to the Directorate General of Commercial Intelligence and Statistics.

The agricultural and processed food exports are driven by shipments of rice, fruits, and vegetables, livestock and dairy products.

As per the Directorate General of Commercial Intelligence and Statistics data, rice exports during April-February (2022-23) rose over 16 per cent on year to a record USD 10 billion from USD 8.6 billion in the previous year.

“The value of rice shipment is likely to cross USD 11 billion in the current fiscal while volume of grain shipment would be around 21 million tonne (MT), at the same level as last year,” V Krishna Rao, president, Rice Exporters Association, told FE.

He said the global demand has been robust this fiscal despite India imposing export taxes on certain varieties of rice shipments. In FY22, India, which has around 45 per cent share in global rice trade, exported rice valued at USD 9.6 billion.

“Robust global demand and competitive pricing have ensured surge in rice exports in the current fiscal and adherence to quality parameters has resulted in sharp increase in demand for Indian rice, with the grain being shipped to more than 75 countries,” M Angamuthu, chairman, Agricultural and Processed Food Products Development Authority (APEDA), a body affiliated to the commerce ministry, told FE.

Fresh and processed fruits and vegetables reported export growth of 11 per cent to USD 2.8 billion in April-February 2022-23, on year. The shipment of cereals, preparations and processed food products rose 16 per cent to USD 2.3 billion in the first 11 months of the current fiscal compared to the previous year.

The export of meat, dairy and poultry products declined marginally compared to last year at USD 3.6 billion during the April-February period of the current fiscally in comparison to the previous year.

For the current fiscal, an export target of USD 23.5 billion has been set by APEDA. Other key agricultural products exported from the country include marine products, spices, tea, coffee and tobacco.

Exports of products under the APEDA basket were at USD 25.6 billion in 2021-22, which was around 51 per cent of the country’s total agricultural goods exports of more than USD 50 billion. The rest of the agricultural products exports include marine, tobacco, coffee and tea.  (KNN Bureau)