As Russia’s Offensive Continues In Ukraine, India’s Farm Exports Surge Globally

Mar 09, 2022, 19:38 IST

India’s farm exports have increased by over 23 percent in just ten months of the current fiscal year (April-January, 2021-22). According to the government data released on Monday, this is a 23 percent hike to $19.70 billion compared to the same period of the previous fiscal year. While the previous year the exports stood at $15.97 billion. The Ministry of Commerce and Industry has fixed the target for exports under the Agricultural and Processed Food Products Export Development Authority (APEDA) at $23.71 billion for the financial year 2021-22.

India’s farm exports touched USD 19,709 million in Apr–Jan 2021-22.

Wheat exports surge nearly 4⃣ times, Rice top forex earner.

Other cereals up by 6⃣6⃣ percent, followed by cereal preparations and miscellaneous processed items at 14 percent growth.

📰https://t.co/IteMCEGUmV pic.twitter.com/SC0XcYXy7g

— Dept of Commerce, GoI (@DoC_GoI) March 9, 2022

The export of rice was the top forex earner at $7.7 billion during the period April-January, 2021-22, it said. Similarly, shipments of wheat increased to $1.74 billion during the period. While the meat, dairy and poultry products exports grew over 13 percent to $3.40 billion during the ten-month period of the current fiscal year, it said adding fruits and vegetables outbound shipments were up 16 percent to $1.20 billion. YSRCP leader and Rajya Sabha MP Vijayasai Reddy said it’s high time we encourage our farmers to focus on high-quality produce.

Great news that India’s Farm Exports touched $19,709 mn in Apr–Jan 2021-22, which is 23% higher than same period of previous year. Export of wheat, rice & other Agri products can be increased by encouraging farmers to produce products of high quality & international standards.2/2

— Vijayasai Reddy V (@VSReddy_MP) March 9, 2022

With Russia’s continuing war in Ukraine and global prices going up, wheat exports from India have picked up. By the end of February, we had already exported 6.6 million tonnes of wheat, a government official said. India's wheat production is estimated to touch a new record of 111.32 million tonnes in the 2021-22 crop year (July-June). It is pertinent to note that Russia and Ukraine together account for almost a quarter of the global wheat supply. However, their wheat crop will mature in August and September this year.