Farm exports dip to $33.87 billion in FY17
India's agricultural exports have declined to $33.87 billion in 2016-17 from $43.23 billion in 2013-14, Parliament was informed on Wednesday.
The primary reasons for decline in export of agricultural commodities are low commodity prices in the international market, "which has made our exports uncompetitive," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.
However, import of agricultural commodities (including plantation and marine products) in 2016-17 rose to $25.09 billion from $15.03 billion in 2013-14.
She added that export and import of agricultural products depend on various factors such as availability, international and domestic demand and supply situation and quality concerns.
"Edible oils and pulses, which are in short supply in India, account for the bulk of India s import of agricultural products," the minister said.
In a separate reply, Sitharaman said the share of agricultural exports in total exports of the country has declined marginally during the past three years.
It has declined to 12.26 per cent in 2016-17 from 12.59 per cent in 2014-15.