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Huge demand for food products in global mkts due to COVID-19 outbreak, India can tap it: TPCI

Press Trust of India  |  New Delhi 

The Trade Promotion Council of India (TPCI)on Monday said there is a surge in demand for food products in global markets due to coronavirus outbreak, and India has the potential to tap this in order to boost its exports.

TPCI Chairman Mohit Singla, who organises the largest food show in South Asia, said more than 100 per cent spike has been registered in demand for essential commodities such as rice, wheat and pulses.

Other food categories, like confectioneries, sweets, organic processed food, spices, too, have witnessed 15-20 per cent rise this month, he said in a statement.

"There is a huge surge in demand in March with respect to the exports of food items amidst the Covid-19 crisis gripping the world," Singla said.

"There are huge opportunities amid this crisis for Indian food sector," he added.

Though the crisis is a short-term phenomenon, it offers Indian exporters huge opportunity, he said.

The surge in demand is primarily driven by the fear that there will be shortage of food in coming months and consumers have started hoarding essential food commodities.

The major destinations where Indian food sector has witnessed increase in demand are the US, Europe, Australia, New Zealand, Israel, Palestine, and Egypt, he said, adding that the coming few months are crucial for leveraging to India's advantage in terms of exports.

However, he added that there are also certain challenges for exporters, including shortage of containers, vessels getting delayed owing to fumigation and complying with norms of various countries, delays in clearances, advisories for not entering particular port, and delay in payments.

QuotingOrganic Tattva, a leading brand for organic food in India, TPCI said there is a huge jump in demand for food items from overseas in the month of March.

"The highest surge has been seen in the organic essential commodities and 20 per cent rise in organic processed food sector from overseas market," it said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 23 2020. 17:00 IST
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