May 21, 2024

Deabruak

The business lovers

Agri, processed food exports top $10 billion in H1FY22

Exports of 37 significant agricultural and processed foods topped $ten billion in the first fifty percent of the present fiscal with the shipments rising by 17.6 for each cent to $ten.07 billion.

The exports, promoted by the Agricultural and Processed Foods Products and solutions Export Progress Authority (APEDA), were $8.fifty one billion all through the same period a yr ago.

Also see: ₹28,655-crore Centre’s subsidy on fertilisers for rabi period to profit farmers, marketplace

An APEDA statement mentioned exports surged irrespective of challenges to the world wide supply chain posed by Covid-19 pandemic and the figures were primarily based on speedy estimates produced by the Directorate Basic of Commercial Intelligence and Data (DGCI&S), Kolkata.

Exports of rice, which have been undertaking nicely since the final fiscal, enhanced by twelve.three for each cent in the first fifty percent to $4.five billion from $4.08 billion.

Other cereals surge

Shipments of other cereals, primarily maize, surged by 110 for each cent, whilst exports of meat, dairy and poultry items were up twenty.seven for each cent.

Other cereals’ export enhanced to $448 million in April–September this yr from $213 million all through the same period a yr ago. Meat, dairy and poultry items shipments rose to $one.nine billion from $one.fifty seven billion in the yr-ago period.

Exports of contemporary fruits and vegetables were greater by 8.five for each cent development at $one.three billion against $one.2 billion and cargo of processed foods items like cereals preparations and miscellaneous processed things grew by 34.2 for each cent.

Also see: Better tariff benefit on edible oils to reduce profit of cut in import levies

Cashew exports grew by 31.6 for each cent to $222 million from $169 million, whilst shipments of oilmeals were up only by a meagre one.2 for each cent. Oilmeals exports enhanced to $467.three million from $461.sixty five million.

“The substantial spike in agri-exports is observed as a testimony of the government’s commitment to raise farmers’ income by giving thrust on boosting exports of agricultural and processed foods items of the place,” the statement mentioned, including that the export functionality was a continuation of the development witnessed final fiscal.