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Sharp spike in Basmati rice & processed foods shipments

Wheat export registered an increase of 70% to $ 1.5 billion in April-October 2022-23 from $ 886 million reported during the same period previous fiscal.

Sharp spike in Basmati rice & processed foods shipments
The agri-exports in previous fiscal was close to 20% more than FY21. (File)

Exports of agricultural and processed food products rose 19% to $ 15.2 billion during April-October (2022-23) compared to the same period last year, driven by spike in shipment of rice, fruits and vegetables, livestock and dairy products.

According to provisional data released by the Directorate General of Commercial Intelligence and Statistics, the value of Basmati rice exports rose by more than 37% in the first seven months of current fiscal to $ 2.5 billion in the first seven months of the current fiscal year. The shipment of non-Basmati rice registered a growth of 8% to $ 3.2 billion during the period.

Export realisation from shipment of aromatic long grain Basmati rice grew by 23% to $1056/tonne in the April – October, 2022-23 period from $ 857/tonne realized in same period previous year. Non-basmati Rice exports are likely to decline in the second half of the current fiscal, as India has imposed a ban on broken rice exports and imposed a 20% export tax on white rice.  

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Wheat export registered an increase of 70% to $ 1.5 billion in April-October 2022-23 from $ 886 million reported during the same period previous fiscal.

India had banned shipment of wheat in May while allowing only those consignments aimed at meeting food security needs of developing countries. In the current fiscal, India has exported 4.6 million tonne (MT) of wheat so far while 7 MT of grain was shipped in FY22.

For the current fiscal, an export target of $ 23.5 billion has been set by Agricultural and Processed Food Products Exports Authority (APEDA). Other key agricultural products exported from the country include marine products, spices, tea, coffee and tobacco

Exports of products under APEDA basket was $ 25.6 billion in 2021-22, which was around 51% of  the country’s total agricultural goods exports of more than $ 50 billion. The agri-exports in previous fiscal was close to 20% more than FY21.

The export of meat, dairy and poultry products rose by 5%  to $ 2.3 billion during April-October period of current fiscal compared to previous year. The dairy products alone registered a growth of 43% to $ 380 million during the same period.

 “We have been working in collaboration with the key stakeholders such as farmers, exporters, and processors to ensure that quality agricultural and processed food products are exported from the country.” M Angamuthu, Chairman, APEDA, said.

The rise in the export of agricultural and processed food products is the outcome of the centre’s initiatives for export promotion of agricultural and processed food products such as organising B2B exhibitions in different countries, exploring new potential markets through product-specific and general marketing campaigns by the active involvement of Indian Embassies.

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 Meanwhile, the government has formulated a strategy to boost exports of nutri-cereals – millets and valued added products focusing on the key markets including USA, United Kingdom, Belgium, Netherlands, Japan, United Arab Emirates and Saudi Arabia.

As part of the promotion of Indian millets exports, APEDA has planned to showcase millets and its value-added product at various global platforms such as Gulfood 2023, Foodex, Seoul Food & Hotel Show, Saudi Agro Food, Fine Food Show in Sydney (Australia), Belgium’s Food & Beverages Show, Germany’s BioFach and Anuga Food Fair, San Francisco’s Winter Fancy Food Show, etc

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First published on: 06-12-2022 at 01:00:00 am