New Delhi: Starting with just USD 0.6 billion in exports during 1987-88, the Agricultural and Processed Food Products Export Development Authority (APEDA) has actively boosted agricultural exports to an impressive USD 26.7 billion in fiscal year 2022-23. This growth journey, marked by expanding export reach to over 200 countries, reflects a notable Compound Annual Growth Rate (CAGR) of 12%.
In fiscal year 2022-23, India achieved USD 53.1 billion in agricultural exports, with APEDA contributing a substantial 51%. From April to December 2023, 18 out of 23 Principal Commodities (PCs) in APEDA’s export basket showed positive growth. Particularly, 13 of the 15 large PCs, each with exports exceeding USD 100 million in the prior year, experienced positive growth, averaging at 12%. Fresh fruits notably stood out with a remarkable growth of 29%. Additionally, processed vegetables, miscellaneous processed items, Basmati Rice, and Fresh Vegetables also saw significant growth compared to the same period last year. It’s worth noting that India expanded its fresh fruits export to 111 countries from 102 in the previous year.
On its 38th Foundation Day on 13.02.2024, APEDA celebrated its significant role in fostering agricultural exports, marking numerous milestones and unprecedented growth. Established in 1986 with the goal of promoting agricultural product exports, APEDA has become a crucial force in elevating India’s agricultural exports.
During April-November 2023, several key commodities experienced substantial growth compared to the previous year: Bananas (63%), Lentils (dried and shelled) (110%), Fresh eggs (160%), Kesar and Dasheri Mango (120% and 140%, respectively).
From April to December 2023, the export value of Basmati rice increased by 19%, reaching USD 3.97 billion compared to USD 3.33 billion in the previous year. Simultaneously, the quantity of exports grew notably by 11%, rising from 31.98 lakh metric tons to 35.43 lakh metric tons during the same period. Basmati rice secured its place in top markets, with Iran, Iraq, Saudi Arabia, the USA, and the UAE emerging as the top five destinations. This strong performance highlights the enduring popularity and global demand for Basmati rice, reinforcing its position as a major agricultural product in India’s export portfolio.