India’s Agriculture Trade Summary for 2020-21
Part of: GS Prelims and GS III – Economy
- After remaining stagnant for the past three years, the export of agriculture and allied products during 2020-21 jumped to $ 41.25 billion, indicating an increase of 17.34%.
- Largest markets for India’s agriculture products: USA, China, Bangladesh, UAE, Vietnam, Saudi Arabia, Indonesia, Nepal, Iran and Malaysia.
- Key agricultural commodities exported: Marine products, rice, buffalo meat, spices etc.
- The organic exports during 2020-21 registered a growth of 50.94%.
- Organic exports include: Oil cake/ meals, oil seeds, cereals and millets, spices and condiments, tea, medicinal plant products, dry fruits, sugar, pulses, coffee etc.
The growth is attributed mainly to:
- Opportunities offered due to Covid-19 offered like sharp rise in global commodity prices.
- Various programmes emerging from Agriculture Export Policy, 2018
- Improved market access: India has recently gained market access for pomegranate in Australia; mango and basmati rice in Argentina
- Capturing of new markets in foriegn countries
- Adherence to European Union norms
- GI tag to domestic products for recognition in international market