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Agri exports rebound on meat and F&V shipments

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India’s exports of agricultural and processed food products, after slowing down in the first three quarters of the current fiscal due to restriction on rice exports, have recovered, aided by a sharp spike in shipments of meat and daily products, and fruits & vegetables.

Exports of these items under the Agricultural and Processed Food Products Export Development Authority (APEDA) basket were just above the previous year level at $ 21.6 billion during the April-February period of the current fiscal year.

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Sources said that decline in the value of rice exports is attributed to decline in shipment of non-basmati rice due to several restrictions such as ban on white rice shipment and 20% export duty on part-boiled rice exports imposed last year.

However, livestock products – buffalo meat, dairy and poultry, a key item in the APEDA basket rose by close to 13% on year during April-February period of this fiscal, to $ 4.1 billion compared to previous fiscal.

The exports of fresh fruits and vegetables have risen by 15% in the first eleven months of FY24 to $3.22 billion on year.

The shipment of cereals preparations and processed items, rose by 9% to 2.5 billion on year in the current fiscal.

Oil meals shipments in the current fiscal rose by 17% to 1.5 billion in April-February 2023-24 on year.

The rice exports in the last fiscal rose by more than 15% year-on-year to a record $ 11.1 billion from $9.6 billion in FY22. In terms of volume, rice shipment grew by 5% to a record 22.34 million tonne (MT) last fiscal. In the current fiscal, rice shipment is likely to be around 17 MT.

While cashew exports during April-February 2023-24 declined by 4% to 0.31 billion on year.

The exports of products under the APEDA basket grew by 9% to $26.3 billion in 2022-23 compared to FY22, due to a spike in shipment of rice, fruits and vegetables, livestock and dairy products.

The share of exports of products under the APEDA basket is around 51% in the the total shipment of agri-produce.

Rest of the agricultural products exports include marine, tobacco, coffee and tea.

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