Agricultural and processed food products exports raised by 31%
For the year 2022-23, an export target of $23.56 billion has been fixed by APEDA for the agricultural and processed food products basket.
PremiumExports of agricultural and processed food products rose by 31% in the first three months of the current fiscal on a year-on-year basis.
The overall export of agri products have increased to $7.408 billion in April-June 2022 from $5.663 billion over the same period of the last fiscal, according to the commerce department data. It also exceeded the export target for April-June 2022-23 at $5.890 billion.
“The initiatives taken by the Agricultural and Processed Food Products Export Development Authority (APEDA) that works under the ministry of commerce and industry have helped the country in achieving 31% of the total export target in the first quarter of the current fiscal," the department of commerce said in a release.
For the year 2022-23, an export target of $23.56 billion has been fixed by APEDA for the agricultural and processed food products basket.
As per the data, fresh fruits & vegetables registered a 4% growth, while processed fruits and vegetables recorded a significant growth of 59.71% in Q1 compared to corresponding months of the previous year.
Also, processed food products like cereals and miscellaneous processed items reported a growth of 37.66% in Q1.
Basmati Rice exports witnessed a growth of 25.54% in the first three months of FY 2022-23 ,while the export of non-Basmati rice registered a growth of 5% in Q1 of current fiscal
“We continue to provide technical and financial assistance to various stakeholders in the agricultural goods value chains for boosting exports of unique products from the country," said APEDA chairman M. Angamuthu.
India’s agri products exports had grown by 19.92% during 2021-22 to touch $50.21 billion, higher than 17.66% growth achieved in 2020-21, “despite unprecedented logistical challenges in the form of high freight rates and container shortages, etc.," said the department of commerce.
“Through creating a necessary eco-system of exports along with collaboration with key stakeholders in the agri-exports value chains, we are aiming to sustain the growth in India’s agricultural and processed food exports in the current fiscal as well," Angamuthu said.
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