According to a data provided by Agricultural and Processed Food Products Export Development Authority, during April-November 2016 the agricultural exports of India fell by almost 6% to $10.20 billion from $10.81 billion during April-November 2015.
Some of the major reasons for the downfall in export rate is demonetization, higher export prices and cut down of the export incentives by the centre, said by the industry experts. 16 main agricultural products like wheat, pulses, fresh vegetables and seeds, milled products, Basmati rice, cereals and more export fell down during April-November 2016.
Indian agricultural exports failed in 2015-16 as well and they were growing in years before and this is the second year Indian agricultural exports dipped. in terms of USD, the exports of pulses fell by 13.05%, guar gum fell by 26.37%, milled products dipped by 32% and basmati rice showed a negative growth of 16.33%according to the data.
A sharp fall of 65.68% has been seen on wheat exports and by 28.93% other cereals shipments fell. The overall Indian exports were at $14.49 billion in between April-November 2014, during April-November 2015; the overall Indian exports were at $14.49 billion and fell to $10.81 billion and during April-November 2016, further down to $10.20 billion.
During 2015-16 the agri-exports fell sharply by 19.26% when compared with2014-15.
The main reason for fall in exports this year is due to demonetization and many people are claiming about this. However, some professionals noticed that the prices of Indian products are higher, intake within the country has improved and the centre has ceased export incentives that were being for many countries are also appropriate aspects adding in the fall. The trade requirements of some countries have also been brought up and little exporters are not in a place to fulfil these modified requirements.
