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Agri exports decline to USD 33.87 bn in FY17

9 August, 2017 1:31 PM
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Agri exports decline to USD 33.87 bn in FY17

The primary reasons for a decline in the export of agricultural commodities are low commodity prices in the international market.

India's agricultural exports declined to USD 33.87 billion in 2016-17 from USD 43.23 billion in 2013-14, Parliament was informed today.

The primary reasons for a decline in the export of agricultural commodities are low commodity prices in the international market, "which has made our exports uncompetitive," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

However, the import of agricultural commodities (including plantation and marine products) in 2016-17 rose to USD 25.09 billion from USD 15.03 billion in 2013-14.

She added that export and import of agricultural products depend on various factors such as availability, international and domestic demand and supply situation and quality concerns.

"Edible oils and pulses, which are in short supply in India, account for the bulk of India’s import of agricultural products," the minister said.

In a separate reply, Sitharaman said the share of agricultural exports in total exports of the country has declined marginally during the past three years.

Also read: Export soars 25.67% to $28.61 billion in Sep

Source: moneycontrol.com

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