Indian Economy News

India's exports of processed food and agricultural goods increased by 13% to US$ 19.69 billion in the first nine months of the current fiscal (2022-23) compared to the same period last year

According to preliminary data released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), exports of agricultural and processed food products increased by 13% in the first nine months of the current Financial Year 2022-23 (April-December) compared to the same period in FY22, continuing a trend from the previous year. From April to December 2022, the total export of APEDA goods climbed to US$ 19.7 billion from US$ 17.5 billion during the same period of the previous year.

The government of India has achieved 84% of its total export target for the year 2022–23 in the first nine months of the current fiscal year, thanks to the initiatives taken by the Agricultural and Processed Food Products Export Development Authority (APEDA), which reports to the Ministry of Commerce and Industry.

APEDA has set a US$ 23.6 billion export goal for the agricultural and processed food products basket for the years 2022–2023, and US$ 19.6 billion in exports have already been made in the first nine months of the current fiscal year.

According to DGCI&S preliminary statistics, processed fruits and vegetables increased by 30.36% (April–December 2022), while fresh fruits and vegetables increased by 4% in comparison to the same months of the previous year. Additionally, compared to the first nine months of the previous year, processed food goods including cereal preparation and other processed items an saw increase of 24.35%.

The export of pulses has witnessed an increase of 80.38% in nine months of the current fiscal in compared to the same months of the last fiscal as the export of lentils increased from US$ 242 million (April-December 2021-22) to US$ 436 million (April-December 2022-23). The export of Basmati rice climbed by 40.26% in the first nine months of FY 2022–23, from US$ 2,379 million (April–December 2021) to US$ 3,337 million (April–December 2022), whereas the export of non–Basmati rice increased by 4% in the same period. In the first nine months of the current fiscal year, non-basmati rice export grew to US$ 4,663 million from US$ 4,512 million in the comparable months of the previous year.

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