Agri exports likely to cross $50 bn this fiscal: Commerce Ministry

The country's agricultural exports, comprising marine and plantation items, grew 23.21% to US$ 31.05 billion from April to November 2021, and are anticipated to exceed US$ 50 billion for the "first time" this fiscal year, according to the commerce ministry on Thursday. During the ongoing COVID-19 pandemic, the government has taken many initiatives to increase exports.

These steps include extending the validity of various certifications/accreditations beyond their expiration dates; establishing control rooms to handle issues; issuing online certificates for exports; and enabling the opening of more testing facilities. It claimed that as a result of these activities, India was able to meet global demand, giving a boost to agricultural exports.

"With the present level of growth, India's agriculture exports are likely to cross US$ 50 billion for the first time, which is the highest ever in history," it said. According to the ministry, rice exports are expected to reach 21-22 million tonnes this year. Non-basmati rice, wheat, sugar, and other grain exports have also seen healthy growth.

Farmers in Punjab, Haryana, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh, Madhya Pradesh, Telangana, Andhra Pradesh, and Maharashtra have benefited from a growth in exports of these crops, according to the report. Furthermore, it stated that marine product exports are expected to exceed US$ 8 billion for the "first time" this fiscal year.

"Spice exports are also likely to touch record levels of around US$ 4.8 billion. Despite facing tremendous supply-side issues, coffee exports have registered a healthy growth of around 35%, which has improved realisations for coffee growers in Karnataka, Kerala and Tamil Nadu," it added.

The ministry's actions have aided in boosting exports from undiscovered places, it said, adding that shipments have occurred from clusters such as Varanasi (fresh vegetables, mangoes), Ananthpur (banana), and Solapur (pomegranate).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.