India’s export business has been among the worst hit by the ongoing pandemic. In the first four months of the current financial year, namely, from April to July, merchandise exports have fallen by over 30% over the corresponding period in 2019. But amidst this gloom, there is cheer in officialdom that exports of agricultural commodities have increased. In July, several agricultural commodities, especially of food grains and oils, showed a spurt in exports. As compared to the levels in July 2019, exports of non-basmati rice rose by 48%, other cereals by 205% and oil seeds by nearly 33%. If we go back to the figures of the first quarter, namely April to June, for which further details are available, the trends in exports of food grains and oils become somewhat clearer. During this period, exports of several food grains increased significantly over the corresponding period in 2019. Non-basmati rice exports increased by over 56%, wheat by 130%, and pulses by nearly 28%. Contributing to these trends are two factors; one, increase in supplies due to record food grains production, and two, deregulation of agricultural markets effected by the promulgation of three ordinances.
This story is from the August 29, 2020 edition of The New Indian Express Chennai.
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This story is from the August 29, 2020 edition of The New Indian Express Chennai.
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