India's agriculture exports cross $50 billion mark for first time

New Delhi: Exports of agricultural products crossed the USD 50 billion mark for the first time during the financial year 2021-22 on the back of healthy growth in the exports of sugar, rice, wheat and other cereals, government data showed on Wednesday. As per the provisional figures released by the Directorate General of Commercial Intelligence and Statistics (DGCI&S), agricultural exports rose to USD 50.21 billion in 2021-22, which is 19.92 per cent higher compared to the previous year. The growth rate is remarkable as it is over and above the growth of 17.66 per cent, at $41.87 billion, achieved in 2020-21 and has been achieved in spite of unprecedented logistical challenges in the form of high freight rates, container shortages etc, Ministry of Commerce & Industry said in a statement. The highest ever exports have been achieved for staples like rice (USD 9.65 billion), wheat (USD 2.19 billion), sugar (USD (4.6 billion) and other cereals (USD 1.08 billion). Wheat has recorded an unprecedented growth of more than 273 per cent, jumping nearly four-fold from $568 million in 2020-21 to touch close to $2119 million in 2021-22. The increase in exports of these products has benefitted farmers in states like Punjab, Haryana, Uttar Pradesh, Bihar, West Bengal, Chhattisgarh, Madhya Pradesh, Telangana, Andhra Pradesh and Maharashtra. India has captured nearly 50 per cent of the world market for rice. The export of marine products, at USD 7.71 billion, is also the highest ever, benefitting farmers in the coastal states of West Bengal, Andhra Pradesh, Odisha, Tamil Nadu, Kerala, Maharashtra and Gujarat. Spices exports have touched USD 4 billion for the second year in a row. Despite facing tremendous supply-side issues, coffee exports have crossed USD 1 billion for the first time, which has improved realisations for coffee growers in Karnataka, Kerala and Tamil Nadu. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.