In the first seven months of the current fiscal, the export of agricultural products decreased by more than 16%

New delhi date. 20 December 2019, Friday

In the first seven months of the current financial year, India's export of agricultural products has dropped significantly. Sources said that the decline was due to poor demand. India's exports of basmati rice, groundnut, dairy products, fruits and vegetables together declined by about 8 percent compared to the first seven months of the last fiscal year.

Exports during the current fiscal stood at $ 1.8 billion, compared to $ 1.8 billion in April-October last fiscal. In terms of rupees, the figure has dropped from Rs 5 crore to Rs 5 crore, ”the Agricultural and Processed Foods Export Development Authority (Aafada) sources said.

Basmati rice exports declined by 5% while non-basmati exports declined by more than 5%. Exports for fruits and vegetables declined by 8 percent while dairy products exports declined by 8 percent.

Exports of peanuts were down by 8 per cent while guar gum exports fell more than 5 per cent, sources said. The decline in the export of agricultural commodities to India may be a worry, sources said.

Meanwhile, exports of groundnut oil from the country have seen a surge. India's exports of groundnut oil have increased due to a sharp rise in demand for China. China is the largest importer of peanut oil in India.

Exports of peanuts in the current year are almost three times as compared to the last fiscal till November, according to market sources.