31 Jan 2025

agri exports | India’s agri exports drop by 8.8% YoY amid export curbs on cereals, onions, and maize

The Ministry of Commerce attributed the decline to issues like Red Sea crisis & Russia-Ukraine war. $6 billion were exclusively lost in export opportunities due to export curbs on wheat, rice, maize, sugar and onions, the ministry said.

India’s agricultural exports dropped by 8.8% year-on-year to $43.7 billion between April 2023 and February 2024, compared to $47.9 billion in the same period the previous fiscal year.

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The Ministry of Commerce attributed the decline to issues like Red Sea crisis & Russia-Ukraine war. The ministry said that $6 billion were exclusively lost in export opportunities due to export curbs on wheat, rice, maize, sugar and onions. However, it noted that the temporary setback in market share due to these restrictions would likely be recovered once exports resume.

In other agricultural exports, basmati rice saw a notable increase, with a 14% growth in quantity and a 22% increase in value, rising from $4.2 billion to $5.2 billion. Additionally, exports of fruits and vegetables grew by 13.94% year-on-year, while meat, dairy, and poultry products saw a rise of 12.36%.

The government is also working on sea protocols for perishable products to ensure freshness for overseas consumers.

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