India’s agricultural and processed food exports have seen a strong 11% growth, reaching $17.77 billion during April-December of the current financial year. This is a significant rise compared to the same period last year, according to official data.
Rice exports have experienced the most notable increase, growing over 19% to $8.72 billion from $6.44 billion in the previous year. In December 2024 alone, rice exports soared by 64.03%, jumping from $0.87 billion to $1.43 billion. Exporters are optimistic about continued growth in rice exports, driven by robust global demand.
In FY24, India shipped rice worth $10.41 billion, a 6.5% decline from the previous year due to export restrictions aimed at controlling domestic inflation and ensuring adequate availability of rice in the local market.
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India’s exports of buffalo meat, dairy, and poultry products also saw a 10% increase, reaching $3.64 billion in the first nine months of FY25, compared to $3.3 billion in the same period last year. Shipments of fresh fruits and vegetables rose by over 5% to $2.65 billion, while cereals preparation exports grew more than 10% to $2.03 billion.
India is also making strides in banana exports, with a tenfold increase over the past decade. The country is now targeting $1 billion in banana exports within the next five years. Successful trial shipments to the Netherlands via sea route have opened up new markets, including Russia, which is expected to become a major buyer.
In FY23, India exported bananas worth $300 million, up from $176 million in FY22. India’s share in global banana exports has risen significantly, from 0.21% in 2013 to 1.74% in 2023.
The Agricultural and Processed Food Products Export Development Authority (APEDA) has set an ambitious export target of $26.56 billion for FY25, covering a range of products including marine, tobacco, coffee, and tea.