Exports of agricultural and processed food products increased by 31% in the first three months of the current fiscal year on an annual basis.
Overall exports of agricultural products rose to $7.408 billion in April-June 2022 from $5.663 billion in the same period last fiscal year, according to Commerce Department data. It also exceeded the export target for April-June 2022-23 at $5.890 billion.
“The initiatives taken by the Agricultural and Processed Food Export Development Authority (APEDA) under the Ministry of Trade and Industry have helped the country achieve 31% of the total export target during the first quarter of the current fiscal year,” the statement said. the Commerce Department said in a statement.
For the year 2022-23, an export target of $23.56 billion has been set by APEDA for the basket of agricultural and processed food products.
According to the data, fresh fruits and vegetables recorded a growth of 4%, while processed fruits and vegetables recorded a significant growth of 59.71% in the first quarter compared to the corresponding months of the previous year.
In addition, processed food products such as cereals and miscellaneous processed products recorded a growth of 37.66% in the first quarter.
Basmati rice exports grew by 25.54% in the first three months of FY 2022-23, while non-Basmati rice exports saw 5% growth in the first quarter of the fiscal year In progress.
“We continue to provide technical and financial assistance to various stakeholders in agricultural commodity value chains to boost the country’s unique commodity exports,” said APEDA Chairman Mr. Angamuthu.
India’s exports of agricultural products grew by 19.92% in 2021-22 to reach $50.21 billion, a growth higher than the 17.66% achieved in 2020-21, “despite unprecedented logistical challenges under the form of high freight rates and container shortages, etc. the Commerce Department said.
“By creating a necessary ecosystem of exports as well as collaborating with key stakeholders in agricultural export value chains, we also aim to support the growth of India’s agricultural and processed food exports in the fiscal year. current,” Angamuthu said.
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