Download Unicorn Signals App

Powered By EquityPandit

Wheat Export Doubles to $1.48 Billion in April-September Quarter

India's wheat exports more than doubled to $1.48 billion between April and September 2022-23 compared to the same period last year.

The Commerce Ministry said that the country’s wheat exports had increased four times to $1.48 billion during April-September 2022-23, linked to the year-ago period. The exports were mounted at $630 million in the year-ago retro.

Nevertheless, the Government banned wheat exports in May month; some consignments are permissible to meet the food security necessities of the countries that request it. “Wheat export stood to $1,487 million in April-September 2022 from $630 million in April-September 2021”, the ministry estimates. The worldwide wheat supply has been seriously interrupted because of the Russia-Ukraine war. Both nations are foremost wheat producers.

The ministry also said the exports of agronomic and processed food products rose 25% in the six months of this fiscal year. The inclusive export of Agricultural and Processed Food Export Development Authority (APEDA) products augmented to $13.77 billion in April-September from $11.05 billion a year ago.

For 2022-23, an export board of $23.56 billion has been immobile by APEDA, and an export of $13.77 billion has previously been attained in the six months, it added. Likewise, the export of fresh fruits amplified to $313 million throughout the period under review compared to $301 million in the last year.

Besides, lentil exports are more prominent, from $135 million to $330 million. Basmati rice exports hiked to $2.28 billion during April-September 2022 from $1.66 billion last year. B non-basmati rice shipments increased 8% to $3.2 billion. Similarly, the export of poultry products resulted in an 83% to $57 million, while shipments of dairy products increased by 58% to $342 million.

Get Daily Prediction & Stocks Tips On Your Mobile