Exports of Indian agricultural and processed foods have staged a rebound in financial year 2017-18 at $18.43 billion, recovering from a five-year low, driven by strong volume growth in rice (both basmati and non-basmati), guar gum and dairy products.
The farm product shipments were up 15 per cent in dollar terms over the previous year’s $16.03 billion.
Rice accounted for 42 per cent of the total shipments at over $7.7 billion ($5.7 billion last year). Also, the higher unit price realised by exporters contributed to the growth in value terms. In volume terms, rice shipments exceeded 12.68 million tonnes (mt) against last year’s 10.75 mt. Basmati shipments crossed 4-million tonnes, while non-basmati exports were estimated at 8.63 mt for the year.
The exports of guar gum, which had declined in recent years, rebounded on strong demand from countries such as the United States and Norway.
Guar gum exports grew 40 per cent to $647 million ($463 million).
Shipments of pulses rose 19 per cent to $227 million ($191 million) after the Centre removed all curbs on exports recently.
While wheat shipments were down from the earlier year, the exports of other cereals, including maize, registered a 16 per cent growth at $247 million during 2017-18.
Source:-Dailyshippingtimes.com
