The export of agricultural products from 1 April to 25 May in the interim period for the 2018-2019 fiscal year was worth US$449 million, decreasing by $70 million compared to the same period in the 2017-2018 FY, according to the trade figures released by the commerce ministry.
In the same period of the 2017-2018 FY, agricultural exports exceeded $519 million in value.
The decrease in agro exports is attributed to the low demand from China. Chinese buyers are observing the market. Additionally, the mung bean and pigeon pea markets have not fully recovered yet, following India’s restriction on their importation.
In the export sector, the agriculture industry performed the best along with the natural gas export sector. The chief export goods in the agricultural sector are rice and broken rice, pulses, corn and rubber. Fruits and vegetables, sesame, dried tea leaves, sugar and other agro products are also sent to foreign countries.
The commerce ministry is endeavouring to help deal with the challenges faced by farmers, such as high input costs, procurement of pedigree seeds, high cultivation costs and erratic weather conditions.