Agricultural and processed food exports from India are likely to set a record this financial year, despite unfavourable global economic sentiment.
These exports had already surpassed last year’s annual figure in the first 10 months of the current financial year, witnessing a strong demand for India’s ready-to-eat and raw food products from foreign markets. Data compiled by the Agricultural and Processed Food Products Export Development Authority (Apeda) showed India’s agri and processed foods exports shot up 63 per cent to set a record at Rs 101,504 crore in the first 10 months of 2012-13, as compared to Rs 62,244 crore in the corresponding period of last year.
“Overall exports of agri and processed foods might surpass Rs 125,000 crore by the end of this financial year,” said a senior Apeda official.
Cereals constituted a little over 40 per cent of India’s overall shipment in this sector. Commodities such as dried and preserved vegetables, mango pulp and pulses also recorded a sharp jump.
Trade shows like Anuga has helped Indian exporters tremendously to target their consumers in European countries where realization is understandably much higher than that in Indian markets. Hence, more and more companies are interested in participating in such trade shows resulting into exhibitors ramping up from 29 in 2001 to 112 in 2011. This year, however, this number would go further up, Eiden added.
In Europe, Germany continues to remain a major destination for rice products, coffee, dried and preserved vegetables and poultry products. America is a major importer of India’s cereal preparations, guar gum, cocoa products, natural honey and milled products. Asian countries and West Asia are also major export destinations for a number of agri products.