Farm Exports Expected to Touch Record $50 billion

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21 January 2022New Delhi: India’s farm exports are likely to touch a record $50 billion in FY22, led by a sharp growth in shipments of rice and marine, meat and poultry items, according to officials. 

In FY21, India had exported farm products worth $41. 25 billion, up 17% from $35. 16 billion in 2019-20. 

Export of rice is likely to touch $9. 5 billion in value terms, acco-unting for about half of the global rice export market, the officials said, adding that non-Basmati rice shipments are likely to clock $5. 8 billion. 

“We expect farm exports to reach the highest and record $50 billion this year,” said one of the officials. In the April to November 2021 period, export of agricultural products, including marine and plantation, amounted to $31. 05 billion, up from $25. 2 billion in the year-ago period. 

Export of marine products is likely to touch a record $8 billion, while that of coffee could grow 45% and cereals 66%. Overseas shipment of meat, dairy and poultry products could rise10% this fiscal,the official said. 

“In spite of the disruptions caused by Covid-19, agriculture exports did well in 2020-21. The upward trend has continued during the current year,” the official said. 

In the first eight months of the fiscal, India’s wheat exports rose by about 421%, sugar exports grew by 62% and that of other cereals increased by 79%. 

Also Read: Australia: GRDC Farm Business Updates set to improve profitability

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