An official said on Tuesday that India's agricultural exports are expected to exceed $50 billion in 2024-25 due to strong demand and the lifting of non-basmati rice restrictions. According to the official, export restrictions on rice, wheat, and sugar have an impact on agricultural exports of approximately $6-7 billion.
Impacts of India's Agriculture Policy
"But now that the rice restrictions have been lifted, we anticipate that agricultural exports will exceed $50 billion. So far, the trend is positive, though the growth rate is not positive; however, because rice has been opened, we will be in the positive zone by the end of December, the official added.
Rice exports are expected to reach 17-18 million tonnes this fiscal year, compared to 14-15 million tonnes last year.
It will give a big boost to exports, the official said, adding that basmati shipments could reach 5.5 million tonnes, parboiled shipments could be around 7-8 million tonnes, and non-basmati rice shipments could exceed 4 million tonnes.
Fruits, vegetables, meat and its products, beverages, and food processing are among the top commodities experiencing healthy growth.
When asked if there were any discussions about lifting the wheat export ban, the official stated that there is currently no plan.
The commerce ministry aims to increase agricultural exports to $100 billion by 2030.
In October, the government lifted export restrictions on non-basmati white rice and exempted parboiled and husked (brown) rice from duty.
These measures were implemented at a time when the country had a surplus of rice at government godowns and retail prices were under control.
Between April and August of this fiscal year, the country exported non-basmati white rice worth $201 million. It totaled $852.52 million in 2023-24.
Despite the ban on exports, the government allowed shipments to friendly nations such as the Maldives, Mauritius, the UAE, and African countries.
