Agri Business

Farm exports go past $9 billion mark in H1

Our Bureau Bengaluru | Updated on November 09, 2018 Published on November 08, 2018

Higher pricing lifts export value despite drop in volumes

 

Higher price realisations for commodities such as rice and buffalo meat, despite a decline in volumes, have helped push up farm product exports in dollar value terms for the April-September period in the current financial year over the corresponding period last year.

Total value of shipments under Apeda’s product portfolio exceeded the $9 billion mark for the said period. In rupee terms, the value of the shipments registered an increase of 8.9 per cent aided by a weak currency at ₹61,789 crore (₹56,741 last year).

Despite a dip in volumes on account of a slowdown in purchases by key buyer Iran, basmati rice exports in value terms were up by about 6 per cent in dollar terms and around 12 per cent in rupee terms on higher pricing. Iran had imposed a ban on basmati imports from late July to protect its domestic growers.

The average realisations for basmati were higher at $1,082 per tonne as against $997 in the corresponding period of the previous year. In rupee terms, basmati rice exports stood at ₹15,331 as against ₹13,706 crore.

Like basmati, non-basmati rice shipments also suffered a slowdown on account of higher duty imposed by Bangladesh and reduced purchases from African countries. However, the average per-unit realisation was higher at $411 per tonne as against $407 in the corresponding of the previous year. A similar trend was also witnessed in buffalo meat shipments during the period.

 

 

 

Basmati is the largest product in Apeda’s product portfolio, accounting for a 25 per cent share of total earnings, followed by buffalo meat at 21 per cent and non-basmati rice at 17 per cent.

However, categories such as pulses, fresh vegetables and dairy products witnessed a different trend, wherein the volumes grew but the average per-unit realisations were down on account of a dip in prices.

Pulses realisation down

The average realisation for pulses saw a major decline of around 40 per cent during the first half this year at $901 per tonne as against $1,512 in the corresponding previous year. However, export volumes of pulses have more than doubled.

Similarly, average realisations for fresh vegetables were down marginally, at $266 per tonne ($272) and for dairy products at $2721 per tonne ($2,755).

Interestingly, exports of guargum grew both in volumes and value during the period. The per-unit realisation for guargum increased to $1,340 per tonne as against $1,254 in the corresponding period last year.

Published on November 08, 2018
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