During the first eleven months of the 2023-24 fiscal year, rice exports decreased by 7% to $9.32 billion, according to a rapid estimate by the Directorate General of Commercial Intelligence and Statistics.
India’s exports of agricultural and processed food products experienced a slowdown in the first three quarters of the current fiscal year due to restrictions on rice exports. However, there has been a recovery in exports, largely attributed to an increase in shipments of meat, dairy products, fruits, and vegetables.
Under the Agricultural and Processed Food Products Export Development Authority (APEDA) basket, exports of these items reached just above the previous year’s level at $21.6 billion during the April-February period of the current fiscal year.
The decline in rice exports was mainly due to bans on white and broken rice exports, duties on parboiled rice shipments, and wheat export bans implemented in May last year.
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