India’s Agri, Processed Food Exports Increased by 14% in Q1 FY23

India's Agricultural and Processed Food Exports increased 14 percent year on year in the first three months of FY23 to $5.98 billion, according to a statement issued by the Commerce and Industry Ministry on Sunday. In the previous fiscal year, these products' exports totaled $5.25 billion.

“Of the total $23.56 billion export target for 2022-23, 25.4% (has been) achieved in the first three months,” the ministry said. The export target for April-June 2022-23 was $5.89 million.

Fresh fruit and vegetable exports increased 8.6 percent year on year, while processed food exports such as cereals and miscellaneous processed items increased 36.4 percent. “In April-June, 2021, fresh fruits and vegetables exports were $642 million that increased to $697 million in the corresponding months of the current fiscal,” the ministry said.

Rice exports increased by 13% in the first three months of FY23, while meat, dairy, and poultry exports increased by 9.5 percent and other cereal exports increased by 29 percent. Dairy exports totaled $1.12 billion in the first three months of the current fiscal year, up from million in the same period last year.

“Through creating a necessary eco-system of exports along with collaboration with key stakeholders in the agri-exports value chains, we are aiming to sustain the growth in India’s agricultural and processed food exports in the current fiscal as well,” said M Angamuthu, Chairman, Agricultural and Processed Food Products Export Development Authority (APEDA).