In the fiscal period 2022-23, India’s agricultural exports reached $53.1 billion, with APEDA contributing a significant 51 per cent of India’s Agri-exports
The Agricultural and Processed Food Products Export Development Authority (APEDA) have taken agricultural exports to a remarkable figure of $ 26.7 billion in the fiscal year 2022-23. This journey of exponential growth is underscored by expanding the export basket to over 200 countries, showcasing a commendable Compound Annual Growth Rate (CAGR) of 12 per cent.
In the fiscal period 2022-23, India’s agricultural exports reached $53.1 billion, with APEDA contributing a significant 51 per cent of India’s Agri-exports. In the period April-December, 2023, among the 23 Principal Commodities (PCs) in APEDA’s export basket, 18 exhibited positive growth. Notably, 13 out of 15 large PCs, with exports exceeding $100 million in the previous year, experienced positive growth, with an average growth rate of 12 per cent. Fresh fruits emerged as a standout performer, registering a remarkable growth of 29 per cent. Moreover, the export of processed vegetables surged by 24 per cent in the period followed by Miscellaneous processed items, Basmati Rice, and Fresh Vegetables also saw substantial growth compared to the corresponding period last year. Notably, India has significantly expanded its fresh fruit export footprint, now serving 111 countries compared to 102 destinations in the previous year.
During April-November 2023, several key commodities witnessed substantial growth compared to the previous year, like, Bananas: at 63 per cent, Lentils (dried and shelled): at 110 per cent, Fresh eggs: at 160 per cent and Kesar and Dasheri Mango: at 120 per cent and 140 per cent, respectively.
During the period from April to December 2023, the export value of Basmati rice surged by 19 per cent, reaching $3.97 billion compared to $3.33 billion in the previous year. Simultaneously, the quantity of exports witnessed a notable growth of 11 per cent, increasing from 31.98 lakh metric tonnes to 35.43 lakh metric tonnes within the same timeframe. Basmati rice found its way to the top markets, with Iran, Iraq, Saudi Arabia, the USA, and the UAE emerging as the top five destinations for these exports.