India’s Agricultural Exports Hit USD 53.1 Billion in FY 2022-2023, APEDA Alone Contributed 51%
- Indian Masterminds Bureau
- Published on 17 Feb 2024, 2:04 pm IST
- 2 minutes read
Highlights
APEDA marked its 38th Foundation Day on 13 February by showcasing its remarkable journey in boosting agriculture exports
Agricultural exports began in 1987–1988, with USD 0.6 billion in annual exports. However, because of the Agricultural and Processed Food Products Export Development Authority’s (APEDA) proactive interventions, agricultural exports reached a remarkable USD 26.7 billion in the fiscal year 2022–2023. The export basket has been expanded to over 200 countries, demonstrating an impressive Compound Annual Growth Rate (CAGR) of 12%.
India’s agricultural exports totaled USD 53.1 billion in the fiscal year 2022–2023, with Agricultural and Processed Food Products Export Development Authority (APEDA) contributing a significant 51% of India’s Agri-exports. The 23 Principal Commodities (PCs) in APEDA’s export basket, 18 exhibited positive growth has been shown in April- December 2023.
During April-November 2023, several key commodities witnessed substantial growth compared to the previous year, like, Bananas: 63%, Lentils (dried and shelled): 110%, Fresh eggs: 160% and Kesar and Dasheri Mango: 120% and 140%, respectively. The export value of Basmati rice surged by 19%, reaching USD 3.97 billion compared to USD 3.33 billion in the previous year. Simultaneously, the quantity of exports witnessed a notable growth of 11%, increasing from 31.98 lakh metric tons to 35.43 lakh metric tons within the same time frame.Related Stories
Basmati rice found its way to the top markets, with Iran, Iraq, Saudi Arabia, the USA, and the UAE emerging as the top five destinations for these exports. This robust performance underscores the enduring popularity and global demand for Basmati rice, further solidifying its position as a major agricultural product in India’s export portfolio.
Notably, 13 out of 15 large PCs, with exports exceeding USD 100 million in the previous year, experienced positive growth, with an average growth rate of 12%. Fresh fruits emerged as a standout performer, registering a remarkable growth of 29%. Moreover, the export of processed vegetables surged by 24% in the period followed by Miscellaneous processed items. Furthermore, India has significantly expanded its fresh fruits export footprint, now serving 111 countries compared to 102 destinations in the previous year.
APEDA, established in 1986 with the goal of promoting the export of agricultural products, has developed into a key player in catapulting India’s agricultural exports to levels never before achieved. APEDA celebrated a remarkable journey of promoting agricultural exports on its 38th Foundation Day on February 13, 2024, which was marked by showcasing of its noteworthy milestones.
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