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News: India’s agriculture trade surplus is shrinking due to rising imports of pulses and edible oils, despite steady growth in farm exports. While exports of basmati rice, spices, coffee, and tobacco are poised to reach new highs in 2024-25, imports of key agricultural commodities have surged.
About India’s Agriculture Exports
- Agricultural exports grew by 6.5%, from $35.2 billion (April-Dec 2023) to $37.5 billion (April-Dec 2024).
- This growth is higher than India’s overall merchandise export increase of 1.9% in the same period.
- Major Export Commodities
- Marine Products: India’s top export commodity, but declining—dropped from $8.1 billion (2022-23) to $7.4 billion (2023-24).
- Rice: Both basmati and non-basmati rice exports remain strong despite policy restrictions. India is the world’s leading basmati exporter.
- Spices: India leads in chillies, cumin, turmeric, coriander, fennel, mint products, etc.
- Coffee & Tobacco: Exports surged due to crop failures in Brazil, Vietnam (coffee), and Zimbabwe (tobacco).
- Sugar: Exports fell sharply from $5.8 billion (2022-23) to $2.8 billion (2023-24) due to government restrictions.
- Wheat: Exports have nearly stopped due to domestic supply concerns
- Influence factor: Global factors, such as commodity price fluctuations, climate disruptions, and government trade policies, continue to influence India’s agri-trade balance.
