India: Agri exports up 19% in April-February of FY21

Published 2021년 4월 22일

Tridge summary

India's exports of agriculture and allied products saw significant growth in FY21, increasing by 41% year-on-year to Rs 1,32,580 crore for the April-February period. The first 11 months of the fiscal saw exports valued at Rs 2.74 lakh crore, up by 18.6% from the previous year, while imports marginally increased by 3% to Rs 1.41 lakh crore. The country maintained a trade surplus in agricultural products and continued to export during the pandemic to avoid disruption of the world food supply chain. Notable exports include wheat, non-basmati rice, soyameal, spices, sugar, cotton, and alcoholic beverages. India aims to achieve an export target of $100 billion from its agricultural sectors within a few years.

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Original content

Despite the pandemic and the overall exports slump, India posted an impressive growth in exports of agriculture and allied products in FY21, with buoyant shipments of a host of commodities including non-basmati rice, wheat, soyameal, spices, sugar, cotton, fresh vegetables, processed vegetables and alcoholic beverages.As per the data for the April-February period of last fiscal, India’s foreign trade balance in agriculture increased by 41% on year to Rs 1,32,580 crore.Agriculture and allied products worth Rs 2.74 lakh crore were exported in the first 11 months of last fiscal against Rs 2.31 lakh crore in the year-ago period, up 18.6%, while imports marginally increased by 3% to Rs 1.41 lakh crore.India has consistently maintained trade surplus in the agricultural products over the years.The country’s agricultural and allied sectors’ exports were Rs 2.52 lakh crore and imports were Rs 1.47 lakh crore during FY20.“Even during the difficult time of pandemic, India took care not to ...

Source: Financialexpress