India Experiences Drop in Agricultural Commodity Exports

India’s agricultural exports have fallen 17% to five-year low of $32.09 billion in the 2016 fiscal year, according to a report from the Business Standard. The data was provided by the Agricultural and Processed Food Products Export Development Authority (APEDA).

By comparison, agricultural exports in the 2014 fiscal year were at $42.84 billion.

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According to APEDA, “The agriculture exports from India have been falling mainly in value terms. As the global prices of commodities have been lowering, even the increase in volume of exports of agri commodities has not fetched us higher incomes. So the exports in value terms have dwindled. At the same time, the domestic prices of three major agri commodities in India; wheat, soya meal and maize have remained higher than international market in the last 18 months. This has also restricted the prospects of Indian commodity exports in the international market and we are out of market.”

Read the full Business Standard article.

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