Basmati exports rose 14% to $2.59 billion in 24H12FY12 on higher volumes and prices.

India’s basmati rice exports rose nearly 14 percent to $2.59 billion in the first half of the 2023-24 fiscal year, compared with $2.27 billion in the same period last year.   This even as agricultural exports, monitored by the Agricultural Products Export Authority (APEDA), fell 11 percent to $12.19 billion from $13.75 billion in the same period last year, preliminary data released by the agency on export promotion said.   In quantitative terms, shipments of basmati rice increased by 6.58 percent to more than 2.3 million tons (2.15 million tonnes) in the first half of the year.  Non-basmati rice shipments, however, fell 15.4 percent to $2.27 billion ($3.19 billion) due to restrictions imposed by the government to improve domestic supply and curb rising prices. Shipments of non-basmati rice were 6.88 million tons in the first half of the year, up from 8.9 million tons in the same period last year. Apart from basmati rice, agricultural products that supported the broader export trend and growth recorded in the first half include groundnuts, fresh fruits and vegetables, fruits and vegetables, cereals, alcoholic beverages, cocoa products, and live animal products such as buffalo meat, lamb and goat meat, poultry, and processed meat.   

Peanut shipments rose nearly 41 percent to $346 million  ($246 million) in the first half of 2024, while fresh fruit and vegetable shipments rose nearly 14 percent to  $859 million. Shipments of processed vegetables rose 57 percent to $297.

   Shipments of cereal products rose 14 percent to $410 million ($360 million), while shipments of alcoholic beverages rose 31 percent to $197 million ($150 million). Shipments of cashew nuts also rose slightly to $158 million ($157 million).  Buffalo meat shipments rose 6 percent to $1.73 billion ($1.63 billion), while poultry products rose 43 percent to $81 million ($57 million).  However, dairy products fell about 36.7 percent to $217 million ($342 million) in the first half of FY24. Mill products fell 70 percent to $70 million ($233 million), and whole wheat shipments fell 98 percent. 21 million dollars ($1.48 billion). Exports of other cereals also fell by about 28 percent to $379 million ($525 million). Shipments of pulses also fell  1.73 percent to $323 million ($329 million).

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