Agriculture exports hit $50 billion in 2021-22

Agriculture exports hit $50 billion in 2021-22

According to the recently released provisional data by the Ministry of Commerce, agricultural exports have grown by 19.92% during the year 2021-22. It has increased to the level of $ 50.21 billion.

This growth is higher than the growth of 17.66% achieved in the year 2020-21. Due to this growth in the year 2020-21, agricultural exports of $ 41.87 billion were registered.

The highest ever exports have been recorded in the case of staple crops like rice, wheat, sugar, and other cereals.

Marine products also recorded the highest ever exports ($7.71 billion).

Importance of Agricultural Exports:

  • The increase in agricultural exports reduces the cost of production. This is possible due to high production (economy of scale) despite low input cost.
  • This leads to ‘better price’ for agricultural produce.
  • Product quality and packaging improve. Promotes research and development related to business.
  • It increases employment opportunities.

Steps taken to boost agricultural exports:

  • The Agriculture Export Policy has been announced to increase the income of farmers, harness the export potential, and make India a leading country in the agriculture sector.
  • Transport and marketing assistance has been announced for certain agricultural products. Under this, assistance is given for transportation of goods for export.
  • A 6 Kisan Connect portal has been set up for farmers, Farmer Producer Organizations/Farmer 2 Producer Companies, Cooperative Societies. Through this it helps in making contact with the exporters. Interaction with Indian Missions abroad is conducted on a regular basis.
  • Assistance is provided to exporters under export promotion schemes of APEDA, MPEDA, T-Board etc.

Source – The Hindu

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