India targeting Russia to boost banana exports to $1 bn: APEDA chairman
- IBEF
- December 31, 2024
India is making significant strides in expanding its banana export market, particularly targeting Russia after successful trial shipments to the Netherlands via sea routes. With a goal of reaching US$ 1 billion in banana exports in the coming years, India is currently reliant on-air routes due to lower volumes and varying ripening periods. To enhance export volumes, the Agricultural and Processed Food Products Export Development Authority (APEDA) is developing sea protocols for fresh fruits and vegetables, including bananas, mangoes, pomegranates, and jackfruit. These protocols aim to facilitate ocean transport, making it more feasible for Indian farmers to reach international markets.
In the fiscal year 2023-24, India exported bananas worth US$ 300 million, a significant increase from US$ 176 million in 2022-23. The country’s share in global banana exports has risen from just 0.21% in 2013 to 1.74% in 2023, highlighting its growing presence in the international market. The Indian government is actively supporting banana cultivation and export through various initiatives, including financial assistance for farmers, infrastructure improvements, and enhanced market access. As domestic farmers adopt modern agricultural practices, they are producing higher quantities of better-quality bananas, positioning India as a key player in the global banana industry.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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