Agricultural & Allied Product Export Soar by Over 20% YoY

According to recent data released by the Union Minister of Agriculture & Farmers Welfare, Narendra Singh Tomar, the export of agricultural and allied products in India has seen a significant increase in recent years. The export of agricultural and allied products was valued at Rs 252400 crore in the financial year 2019-20 and increased to Rs 310130 crore in 2020-21, a YoY increase of 22.87%. In the latest financial year 2021-22, the export of these products reached an all-time high of Rs 374611 crore, marking a YoY increase of 20.79%.

Regional Breakdown

In terms of regional distribution, the Western region states of Gujarat and Maharashtra led the export of agricultural and allied products, followed by Andhra Pradesh and West Bengal in the Eastern region, Uttar Pradesh and Haryana in the Central/Northern region, and Karnataka and Kerala in the Southern region.

What are the commodities on the rise?

The agriculture minister highlighted that marine products and sugar showed the maximum increase in their export value in 2021-22 compared to the previous year. In addition, wheat, rice, cotton raw including waste, dairy products, coffee, castor oil, guargum meal, buffalo meat, and other cereals also experienced growth in their export value.

Marine products had a value of export of Rs 44175.75 crore in 2020-21, which increased to Rs 57910.36 crore in 2021-22, marking an increase of Rs 13734.61 crore. Sugar had a value of export of Rs 20668.57 crore in 2020-21, which increased to Rs 34344.69 crore in 2021-22, marking an increase of Rs 13676.12 crore.

Positive Impact on the Country

The boost in export of agricultural and allied products will have a positive impact on the Indian economy, helping to drive economic growth and create employment opportunities in rural areas. In addition, the increase in export value of these products will help to improve the income of farmers, thus contributing to the development of rural communities.

In conclusion, the increase in the export of agricultural and allied products in India is a positive sign for the country's economy, and it is expected that these trends will continue in the coming years, further boosting the economic growth of the country.