The fall in global commodity prices and sluggish demand have resulted in a sharp decline in India’s agricultural and processed food exports in the first three quarters of the current fiscal, a newspaper reported.
The Financial Express quoted official as saying that the slowdown in agricultural goods shipments is expected to continue in the last quarter of the year as well.
“According to latest data compiled by the Agricultural and Processed Food Exports Development Authority (APEDA), the shipment of agricultural produce and processed foods, which had seen a phenomenal rise for a few years to FY14, shrank by more than 21 percent during April-December, 2015 in comparison with the same period last fiscal,” the newspaper said.
It said exports of buffalo meat, Basmati, non-Basmati and others have declined to Rs 78,503 crore in April-December, 2015 from Rs 1,00,094 crore achieved in the same period last fiscal. The realisation from the shipment of rice (Basmati and non-Basmati), buffalo meat, guargum etc. have declined sharply in the current fiscal.
Shipment of fruits and vegetables witnessed a marginal increase in the current fiscal so far. “We are hoping that Basmati rice exports would pick up pace in the last fiscal and thereafter as Iran has lifted curb on our rice import,” the newspaper quoted an official as saying.
The official said that the decline in agricultural commodities shipments also reflect an overall decline in the exports of other commodities.