Farm exports topped $50 bn in FY22, driven by cereals, marine products

Goyal says wheat exports in FY23 will be over 10 million tonnes

India is estimated to have achieved a record $50 billion in farm exports in FY22, driven by a host of items that includes cereals (rice and wheat), marine products, spices and sugar, among others, commerce minister Piyush Goyal said today.

On wheat exports in FY23, Goyal said over 10 million tonnes is ‘achievable’, but sources said that Centre was even hopeful of doubling the exports to almost 15 million tonnes in FY23, from over 7 million tonnes in Fy-22.

The minister was addressing a press conference called to announce the highest ever total merchandise exports from India in FY22.

“Higher agricultural exports signify the ability of Indian farmers to meet the requirement of 1.35 billion populations and yet produce a surplus to export to the rest of the world,” Goyal said.

He said till March 21, 2021, the total agriculture exports was to the tune of around $40.35 billion which till March 21, 2022 had already crossed $48.59 billion.

“Im’s sure that in the next 10 days’ exports will have topped $50 billion,” Goyal said.

On wheat exports, he said Madhya Pradesh and Uttar Pradesh are emerging as major destinations for wheat exports and the state governments there have been actively promoting the exports.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan had thrice held meetings with top exporters and others to boost the overseas trade and also agreed to waive off the mandi tax for exported wheat from the state. “Wheat exports will pick up pace from all ports in the coming days,” another official explained.

In 2018-19, the Central government unveiled an ambitious policy that seeks to double agri exports to $60 billion by 2022 and do away with arbitrary curbs on exports.

Aiming to push India into the list of the top 10 agri export nations, the policy has been backed by the Prime Minister’s Office.

The then Commerce and Industry Minister Suresh Prabhu while releasing the policy had said the policy ties in logistics support, a better trade regime, and states-led product development to connect farmers to global markets.

The FY22 agriculture exports of $50 billion are slightly off that target but it is still a big achievement given that the economy was in a downturn for two consecutive years due to the Covid shock.