India’s agricultural and processed food products exports are set to exceed the target of $23 billion in FY22 thanks to a sharp spike in shipments of rice, wheat, fresh & processed fruits and vegetables, and livestock products.
Exports of commodities under the Agricultural and Processed Food Products Export Development Authority (APEDA) basket have crossed $21.45 billion during April-February (FY22). In FY21, agricultural and processed food products were valued at $20.39 billion.
According to the DGCIS (Directorate General of Commercial Intelligence and Statistics) data, rice exports crossed $8.67 billion in the first 11 months of FY22. India has been the world’s largest rice exporter in the last decade — export earnings stood at a record $8.7 billion in FY21 and could cross $9 billion this fiscal. India exports rice to more than 90 countries.
The country is likely to continue holding a major share of global rice trade in the current fiscal, with an estimated shipment of 21 million tonnes, an increase of more than 24% from the previous financial year. The country’s rice exports in the current financial year is likely more than the combined exports of the next three largest exporters — Thailand, Vietnam and Pakistan.
Wheat exports in FY22 have also witnessed the sharpest spike of 380% to $1.74 billion compared to the year-ago period. The government is targeting increasing wheat exports in FY23 on the rising global demand due to the Russia and Ukraine conflict.
During April-January (FY22), exports of meat, dairy and poultry products rose by 13% to $3.4 billion compared to $3 billion a year ago. Fresh fruits and vegetables exports in the first 10 months of FY22 rose by 16% to $1.2 billion, while the processed fruits and vegetables shipment rose by around 11% to $1.2 billion compared to same period in FY21. APEDA is giving a thrust to exports of cereals as well as those unique and Geographical Identification (GI) certified agri produce from various states. Darjeeling Tea and Basmati Rice are the two most popular GI-tagged agricultural products of India, which have already created a niche global market.