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FOOD PROCESSING

Higher dollar value results in forex earnings for India in ’18-19, states APEDA
Friday, 12 April, 2019, 12 : 00 PM [IST]
Ashwani Maindola, New Delhi
The higher dollar value has resulted into loss in foreign exchange earnings for India in 2018-19 (between April2018 and January 2019), according to the statistics of 2018-19 figures available with the Agricultural and Processed Food Export Development Authority (APEDA). The figure for the export of agri and processed foods showed that the dollar earnings had dipped by 2.27 per cent to $14,730 million (Rs 1,02,312 crore), despite the hike in rupee value by 5.40 per cent.

The figure for the corresponding period of the previous year (i.e., between April 2017 and January 2018) was Rs 97,075 crore ($15,073 million).

Cereals had the highest share of Indian agri and processed food export basket, with a share of over 43 per cent in terms of monetary value. APEDA stated that amongst cereals, Basmati rice had the highest value share, with 24 per cent. It fetched Rs 44,115 crore ($6,368 million) between April 2018 and 2019, while it earned Rs 42,192 crore during the same period the previous year.

This was followed by other processed foods, including groundnuts, guar gum, cereal preparations, cocoa products, milled products, alcoholic beverages, miscellaneous and processed fruits and vegetables, whose share was about 23 per cent in terms of value.

The other processed foods fetched Rs 17,122 crore ($2,460 million) between April 2018 and January 2019, vis-a-vis Rs 15,326 crore ($2,379 million) the previous year, while processed fruits and vegetables earned Rs 6,817 crore (or $980 million) in April 2018 and January 2019, against Rs 5,772 crore or $896 million in the previous fiscal.

The export of fresh fruits and vegetables has seen a slight dip in terms of value with Rs 7,590 crore, or $1,086 million, against the previous fiscal’s earnings of Rs 7,590 crore or $1,179 million.

Livestock remained another area that has seen a marginal upswing in value. Livestock products, including meat, processed meat, poultry products and dairy products, fetched Rs 25,263 crore or $3,920 million in 2017-18, while in 2018-19, the figures were Rs 25,562 crore or $3,668 million.
 
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