India retains eighth position in Global Agricultural Exports
NEW DELHI : In 2023, India continued to be the eighth-largest exporter of agricultural products worldwide. However, India’s agricultural exports dropped from $55 billion in 2022 to $51 billion. This decline happened during a time when many other leading countries also saw a decrease in their agricultural exports.
Global Export Trends
Out of the top ten agricultural exporting countries, only three saw growth in their exports in 2023:
- Brazil: Agricultural exports increased by 6% to $157 billion.
- European Union (EU): Agricultural exports grew by 5% to $836 billion.
- Thailand: Agricultural exports increased slightly by 0.2%, though it is not among the top three exporters.
Factors Impacting Indian Exports
India’s reduction in agricultural exports can be attributed to several geopolitical factors, such as:
- The Red Sea crisis
- The Russia-Ukraine war
Export Bans and Their Effects
These events have disrupted global trade. Additionally, India’s export bans on key agricultural products also contributed to the decline. These bans included:
- Wheat in May 2022
- Non-basmati rice in July 2023
- Sugar in October 2023
Comparison with Other Major Exporters
Despite a decrease in exports to $198 billion, the United States remains the second-largest agricultural exporter. China is the fourth-largest, with a slight decrease to $95 billion. Other significant countries in the top ten include Canada, Mexico, and Indonesia. Australia.