India’s agricultural exports top $50 billion for the first time
India’s agricultural exports crossed the $50 billion mark for the first time in FY 2021-22 on healthy growth in exports of sugar, rice, wheat and others cereals, according to government data.
According to provisional figures released by the General Directorate of Intelligence and Trade Statistics (DGCI&S), agricultural exports reached $50.21 billion in 2021-22, up 19.92 percent from the previous year.
The growth rate is remarkable as it exceeds the growth of 17.66%, to $41.87 billion, achieved in 2020-21 and was achieved despite unprecedented logistical challenges in the form of high freight rates, container shortages, etc., Ministry of Trade and Industry said in a statement.
The highest exports on record were for commodities like rice ($9.65 billion), wheat ($2.19 billion), sugar ($4.6 billion) and other grains ($1.08 billion).
Wheat saw unprecedented growth of more than 273%, growing nearly fourfold, from $568 million in 2020-21 to nearly $2,119 million in 2021-22. Increased exports of these commodities have benefited farmers in states like Punjab, Haryana, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh, Madhya Pradesh, Telangana, Andhra Pradesh and Maharashtra.
India has captured almost 50% of the world rice market.
The export of marine products, at $7.71 billion, is also the highest on record, benefiting farmers in the coastal states of West Bengal, Andhra Pradesh, Odisha, Tamil Nadu, Kerala , Maharashtra and Gujarat.
Spice exports reached US$4 billion for the second consecutive year. Despite huge supply problems, coffee exports crossed US$1 billion for the first time, improving the achievements of coffee farmers in Karnataka, Kerala and Tamil Nadu.