1. Farm exports set to fall for 2nd year

Farm exports set to fall for 2nd year

India’s farm exports are all set to drop for the second straight year, with products monitored by the Agricultural and Processed Food Products Export Development Authority (Apeda) expected to record a 25% decline in outbound shipments in the current fiscal, according to sources, reports Banikinkar Pattanayak in New Delhi.

By: | Updated: January 22, 2016 9:13 AM
farmers The exports of dozens of commodities monitored by Apeda will likely touch billion this fiscal, compared with .3 billion a year earlier, thanks primarily to a crash in global commodity prices, said the sources. (Express photo)

India’s farm exports are all set to drop for the second straight year, with products monitored by the Agricultural and Processed Food Products Export Development Authority (Apeda) expected to record a 25% decline in outbound shipments in the current fiscal, according to sources, reports Banikinkar Pattanayak in New Delhi. The exports of dozens of commodities monitored by Apeda will likely touch $16 billion this fiscal, compared with $21.3 billion a year earlier, thanks primarily to a crash in global commodity prices, said the sources. Such products accounted for over a half of the country’s total farm exports in the last fiscal. Between April and November, the exports of such products dropped 27% from a year ago to $10.6 billion, far worse than an 18.5% decline in merchandise exports during this period, showed DGCIS data. Total farm exports could also fall to $30-33 billion in 2015-16 from almost $39 billion a year earlier, said the sources.

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