India’s Farm Exports Surge and Farm Imports Also Increased in 2021
14 May 2022
India’s agricultural exports reached US$48 billion in
2021, while agricultural imports also increased and stood at US$26 billion. The
agricultural trade surplus of US$9.5 billion was reported last year. In fact, for
the last three consecutive years, India’s agri exports and imports have risen.
In exports, cereals, cotton, fish, and sugar were the major gainers, while in
imports, cotton, and natural rubber reported an increase in the value of
shipments in 2021. Here’s an in-depth data analysis of agricultural exports and
imports.
India’s Agricultural Trade by Year
After a record jump in 2014, India’s agricultural export declined in 2015, 2016, and 2017 2017, and increased in 2018. Agri exports from India fell in 2019, and 2020, and rose considerably in 2021, and stood at US$48.1 billion. The table below shows trends of India’s farm exports and imports reported from 2014 to 2021.
|
Year |
Export Value (US$ Million) |
Import Value (US$ Million) |
Trade Surplus (US$ Million) |
|
2014 |
53,754 |
17,372 |
36,382 |
|
2015 |
38,747 |
23,025 |
15,722 |
|
2016 |
36,733 |
25,273 |
11,460 |
|
2017 |
37,388 |
29,939 |
7,449 |
|
2018 |
45,924 |
24,625 |
21,299 |
|
2019 |
38,590 |
25,887 |
12,703 |
|
2020 |
38,859 |
26,141 |
12,718 |
|
2021 |
48,189 |
38,679 |
9,510 |
India’s Top Agricultural Export
Products
Cereals, fish, cotton, and sugar reported a major surge in export value in 2021. Other agricultural export categories that saw a rise in value were meat, animal or vegetable oils, edible fruits and nuts, and edible vegetables. See India’s top agricultural export products reported in 2020 and 2021.
|
Commodity |
2020 (Value US$ Million) |
2021 (Value US$ Million) |
|
Cereals |
10,715 |
13,017 |
|
Fish |
5,689 |
7,178 |
|
Meat |
3,311 |
3,662 |
|
Cotton |
6,606 |
10,603 |
|
Sugar |
2,910 |
5,157 |
|
Animal or Vegetable Oils |
1,434 |
1,552 |
|
Edible Fruits and Nuts |
1,505 |
1,634 |
|
Edible Vegetables |
1,408 |
1,487 |
India’s Top Agricultural Import
Products
India’s exports of agricultural products saw a surge in value whereas imports of agricultural commodities also reported an increase in the value of shipments. Fish, meat, cotton, natural rubber, animal or vegetable oils, edible fruits and nuts, edible vegetables, and coffee reported a rise in imports in 2021. Below given chart shows the dollar amount of these import categories recorded in 2020 and 2021.
|
Commodity |
2020 (Value US$ Million) |
2021 (Value US$ Million) |
|
Fish |
123 |
146 |
|
Meat |
3 |
5 |
|
Cotton |
472 |
741 |
|
Natural Rubber |
661 |
1,136 |
|
Animal or Vegetable Oils |
17,538 |
28,684 |
|
Edible Fruits and Nuts |
3,235 |
3,805 |
|
Edible Vegetables |
1,647 |
2,147 |
|
Coffee |
795 |
894 |
Prospects
The Russian invasion of Ukraine has brought new
opportunities for India to supply agricultural products to the countries that
were dependent on Russian and Ukrainian food products. There are expectations
of the country’s wheat and even maize exporters filling, at least partly, the
void left by the two warring breadbasket nations. However, those opportunities
may be engulfed due to severe heatwave conditions that could damage the wheat
crop particularly. The overall prospects for agri-exports hinge largely on the
monsoon.
All in all, the year 2022 could be more challenging
for Indian agricultural trade, notwithstanding high international prices that
are normally favourable for exports while keeping imports in check.
