DelhiDesk India’s agricultural exports have increased by around 20% to $50.21 billion during the financial year 2021-22, despite challenges posed by the Covid-19 pandemic. Rice exports were at the forefront of earning foreign exchange in agricultural commodities, generating $9.65 billion, while dairy product exports increased by 96% to $634 million during the same period. However, agricultural exports may face adverse conditions in the current financial year due to international prices and concerns over food inflation ahead of national elections in 2024. The government has already imposed export bans and duties on certain products, including wheat and sugar.
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👉 India’s agricultural exports increased by 20% to $50.21 billion during 2021-22 despite challenges posed by the pandemic.
👉 Rice exports earned the most foreign exchange, increasing by 9.35% to $9.65 billion in 2021-22.
👉 Dairy product exports increased by 96% to $634 million, while bovine meat exports increased to $3.30 billion in 2021-22.
👉 Agricultural exports face possible adverse conditions due to international prices and domestic fears of food inflation ahead of the 2024 national elections.
👉 Major export destinations for Indian agricultural products include Bangladesh, UAE, Vietnam, USA, Nepal, Malaysia, Saudi Arabia, Indonesia, Iran and Egypt.
👉 The Indian government has previously banned the export of wheat, broken rice, and imposed a 20% duty on non-parboiled non-basmati shipments. The export of sugar has also been stopped since the beginning of this month.
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