India Export: India’s agricultural export decreased by about 10 lakh tonnes in a month, know why it is being affected
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India Export: The effect of the government’s efforts to control the rising food inflation in the country is now visible on India’s exports. India’s agricultural exports decreased by about 1 million tonnes in the month of September. It is being told that the export of Basmati rice and other agricultural products decreased to 17.93 lakh tonnes in September this year which was 27.94 lakh tonnes a month before that. According to agricultural export promotion body APEDA, restrictions on different varieties of rice, imposition of minimum export price on Basmati rice to boost domestic supply and curb food inflation have affected exports of some agricultural commodities. The export of agricultural products in April and May was about 33 lakh tonnes. But due to restrictions on export of different varieties of rice like broken rice and non-Basmati white rice, exports of agricultural commodities declined to about 18 lakh tonnes in September. According to the data of Agricultural and Processed Food Products Export Development Authority (APEDA), the export of agricultural commodities in the month of August of the financial year 2023-24 was 27.94 lakh tonnes. In value terms, exports of agricultural commodities declined to Rs 14,153 crore during September, which was Rs 18,128 crore in August.
Exports were 172.27 lakh tonnes in the first six months
Meanwhile, APEDA data shows that in September, exports of non-Basmati rice were 4.25 lakh tonnes, Basmati rice was 1.21 lakh tonnes, fresh onion was 1.51 lakh tonnes and buffalo meat was 1,21,427 tonnes. The total export of agricultural commodities in the first half of the current financial year was 172.27 lakh tonnes. Meanwhile, to control the rising prices of onion, the central government has banned its export till March 31. In the notification issued by the Directorate General of Foreign Trade (DGFT), it has been said that the policy of export of onion has been changed from free to restricted category till March 31, 2024.
Why is the government stopping exports?
After the monetary review policy meeting by the Reserve Bank, it was said that the bank is not happy with the decline in food inflation in the last few months. It will have to be maintained. Meanwhile, the Central Government is making every effort to prevent inflation from becoming an issue during the election season. To increase supply in domestic demand, export has been banned. Meanwhile, the Center has also taken a big step to reduce the rising prices of sugar. The government has barred sugar mills and distilleries from using sugarcane juice or syrup for ethanol production for 2023-24. However, the Food Ministry has clarified in a letter to the Managing Directors (MDs) and Chief Executive Officers (CEOs) of all sugar mills and distilleries that ethanol from B-heavy molasses will continue to be supplied to oil marketing companies. The Food Ministry said in the letter that in exercise of the powers conferred under Sections 4 and 5 of the Sugar (Control) Order 1966, all sugar mills and distilleries are directed to implement the ESY (Ethanol Supply Year) 2023-24 with immediate effect. Do not use sugarcane juice/sugar juice for ethanol.
The price of flour will also reduce
According to data released by the central government, inflation has come down to a four-month low of less than 5 percent due to falling food prices. However, in view of rising flour prices, the government is expected to allow the Food Corporation of India to sell 4 lakh tonnes of wheat every week as against the current 3 lakh tonnes. Earlier, the Center had imposed a minimum export price of $800 per tonne for onions to curb shipments from outside.MEEP) and also imposed severe restrictions on the export of sugar to ensure adequate availability of the sweetener in the domestic market. According to TOI report, despite the implementation of MEP, more than 1 lakh tonnes of onion has been exported every month.
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