India's agricultural export sector has seen a declining trend over the past three years, a situation that could significantly impact farmers' incomes, according to The New Indian Express. This decline coincides with a major protest by farmers in Delhi, demanding the fulfillment of promises made by the Narendra Modi government in 2021 after the repeal of three contentious agricultural laws. The farmers' union, Samyukta Kisan Morcha, has emphasized the need for a guaranteed minimum support price and measures to prevent corporate encroachments on agriculture in a letter to Prime Minister Narendra Modi.
Despite the downturn in exports, India has increased its fresh fruit export markets from 102 to 111 countries over the last year. However, the growth rate of India's agricultural exports dipped to 6% in 2022-2023 from 17% in 2020-2021.
Additionally, exports under the Agricultural Products Export Development Authority (APEDA) fell from 24% to 11%. In terms of value, APEDA's product-value exports decreased to $17.88 billion in April-December 2023 from $19.68 billion in the previous year, with the total agricultural export value falling to $34.99 billion in FY2023 from $38.63 billion.
On a positive note, India's banana market has expanded into Russia, amidst rising tensions with Ecuador, which has traditionally been Russia's largest banana supplier.
Source: thewire.in