India’s agriculture sector is more integrated with the world than ever, and there’s been a substantial increase in the volume of trade happening over the years. India achieved this by gradually removing obstacles to trade, making deals with multiple countries, and having policies at home that encourage farmers to produce agri-commodities for export. Also, incentives were provided to food export companies in India to increase the volume of exports.
As a result, India has witnessed a remarkable increase in agricultural product exports, progressing from $6.4 billion in 2001 to $37.3 billion in 2019, and ultimately reaching $53.2 billion in 2022-23.
However, During the period from 2013-14 to 2020-21, there has been no substantial increase in agricultural products exported from India. In fact, there has been a declining trend in India’s agricultural exports over these years.
Key data related to India’s Agriculture Export Performance in Last 10 Years
Between 2013-14 and 2015-16, India’s agricultural exports sharply fell from USD 43.25 billion to USD 32.81 billion, primarily due to the crash in global prices.
It stayed around $38 billion in 2017-18 and 2018-19, but then dropped to $35.16 billion in 2019-20.
During the pandemic year (2020-21), India’s agriculture exports have registered growth of 17.34% and have reached $41.25 billion. This happened due to the growing demand of staples like non-basmati rice, wheat and cereals all over the world.
In FY22, agriculture products export from India reached an all-time high at $50.21 billion. Wheat recorded the highest growth, jumping more than four times from $568 million in 2020-21 to almost $2119 million in 2021-22, a growth of over 273%. Also, India now dominates almost half of the world’s rice market.
India’s agriculture exports have reached approximately $53 billion in FY23
The impact of global prices on India’s agriculture exports
Agricultural trade in India, particularly exports, appears to be closely tied to global price trends.
The UN Food and Agriculture Organization’s Food Price Index (FPI) reveals a fluctuating pattern, rising from 96.5 points in 2019-20 to 139.5 points in 2022-23. In the ongoing fiscal year (April to October 2023), the FPI maintains an average of 123.2 points.
The trajectory of India’s agricultural exports seems to align with the movements of the FPI. During the decline of the FPI from 119.1 to 96.5 points between 2013-14 and 2019-20, India’s agri exports mirrored this trend, decreasing from $43.3 billion to $35.6 billion. In contrast, with the FPI reaching unprecedented levels in 2022-23, our exports experienced a corresponding increase.
As global prices are now witnessing a decline, both the value of exports and imports of agricultural commodities to and from India are anticipated to decrease in 2023-24. This is one of the major reasons as to why India’s agricultural exports have fallen 11.6% year-on-year in April-September 2023.
List of agricultural products exported from India
Below is the list of top 10 agricultural products exported from india
- Marine products
- Non-basmati rice
- Sugar
- Spices
- Basmati Rice
- Buffalo meat
- Raw Cotton
- Wheat
- Castor oil
- Other cereals
Food export companies in India
EXPORA exports rice, pulses, spices and processed foods from India. We ensure a seamless export process, providing you with a diverse range of quality agricultural products.
Finding dependable suppliers who produce high-quality agricultural products for import-export purposes is a major difficulty in the agro and food industry globally. Due to reasons such as multiple supplier challenges, physical distance, lack of knowledge,differences in business practices, and language hurdles, locating such suppliers can be challenging.
EXPORA is a premier agri exporter from India. Our focus is always in providing customers with good quality products which are procured directly from the origin thus ensuring best prices.
By working closely with a network of trusted agricultural products suppliers and manufacturers from all over India, EXPORA guarantees a consistent supply of different agricultural commodities to cater to the diverse preferences of its customers worldwide
Conclusion
Indian farmers till now have not only met but exceeded the expectations of a diverse global consumer base. India’s agricultural trade story is one of resilience, adaptation to global dynamics, and the continuous pursuit of providing quality products to the world market.
