The Agricultural and Processed Food Products Export Development Authority (APEDA) has been instrumental in boosting India's agricultural exports to unparalleled levels since its establishment. From its humble beginnings with annual exports of USD 0.6 billion in 1987-88, APEDA's proactive interventions have increased agricultural exports to a remarkable figure of USD 26.7 billion in the fiscal year 2022-23. This journey of exponential growth underscores the efficacy of APEDA's strategies, which have expanded the export basket to over 200 countries, showcasing a commendable Compound Annual Growth Rate (CAGR) of 12%.
APEDA's Dominance in India's Agricultural Export Landscape
In the fiscal period 2022-23, India's agricultural exports soared to USD 53.1 billion, with APEDA contributing a significant 51% to the nation's Agri-exports. Notably, among the 23 Principal Commodities (PCs) in APEDA's export basket, 18 exhibited positive growth during the period from April to December 2023. Highlighting this growth trajectory, 13 out of 15 large PCs, with exports exceeding USD 100 million in the previous year, experienced positive growth, averaging at 12%. Fresh fruits emerged as a standout performer, registering an impressive growth of 29%. Additionally, the export of processed vegetables surged by 24%, while Miscellaneous processed items, Basmati Rice, and Fresh Vegetables also witnessed substantial growth compared to the corresponding period last year. India's expansion in fresh fruits export footprint, now serving 111 countries compared to 102 destinations in the previous year, underscores its increasing global reach and market penetration.
APEDA's 38th Foundation Day
On its 38th Foundation Day celebrated on 13th February 2024, APEDA reflected on its remarkable journey of fostering agricultural exports, marked by significant milestones and unprecedented growth. Established in 1986 with the mission to promote the export of agricultural products, APEDA has evolved into a pivotal force in catapulting India's agricultural exports to new heights, serving as a beacon of success and innovation in the sector.
Key Commodity Highlights: April-November 2023
During April-November 2023, several key commodities witnessed substantial growth compared to the previous year. Notably, Bananas recorded a remarkable growth of 63%, Lentils (dried and shelled) surged by 110%, Fresh eggs witnessed a staggering growth of 160%, while Kesar and Dasheri Mango experienced growth rates of 120% and 140%, respectively. These figures underscore the diversification and resilience of India's agricultural export portfolio.
Basmati Rice: Sustaining Global Popularity
During the period from April to December 2023, the export value of Basmati rice surged by 19%, reaching USD 3.97 billion compared to USD 3.33 billion in the previous year. Simultaneously, the quantity of exports witnessed a notable growth of 11%, increasing from 31.98 lakh metric tons to 35.43 lakh metric tons within the same timeframe. Basmati rice continued to dominate global markets, with Iran, Iraq, Saudi Arabia, the USA, and the UAE emerging as the top five destinations for these exports.
This robust performance reaffirms the enduring popularity and global demand for Basmati rice, further solidifying its position as a major agricultural product in India's export portfolio.
