India's exports of agricultural and processed food products fell by 3% to $5.88 billion during April-June this fiscal year due to issues related to the Red Sea crisis, a rise in freight and a shortage of containers, according to Agricultural and Processed Food Products Export Development Authority data.
US importers are increasing their shipments from China to beat the upcoming August 1 deadline for higher tariffs on Chinese imports. As a result, this surge in trade activity between the two nations is causing a shortage of containers.
During the first quarter, exports of rice, some cereals, cashew and oil meals declined.
Rice exports dipped marginally to $2.8 billion during the period, while cashew exports declined by 17% to $68.63 million.
However, fruits and vegetables; certain processed items; and meat, dairy and poultry goods registered positive growth.
According to the data, exports of regulated goods, including non-basmati rice, wheat, and milled products, have dipped marginally by 0.49% to $4.33 billion during April–May this fiscal year.
During the first two months of this fiscal year, basmati rice exports rose by 13% to $1.03 billion. However, the shipments of non-basmati rice dipped by 13% to $918.83 million.
(With Inputs From PTI)
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