India is scaling to new highs in foreign exports. In 2019, India was listed in the list of the top 10 countries for agricultural produce. Similarly in 2020-21, India’s export business saw positive and handsome growth.
As per the government’s records, India’s agriculture and allied product sector grew at 17.34% in 2020-21 after being stable for the past 3 years. It is nearly $41.25 billion now. This also includes marine and plantation products.
In 2019-20, the import of agriculture and allied products were of $20.64 billion and in 2020-21, it was $20.67 billion. Even after the pandemic, the balance of trade in the agriculture business witnessed an increase of about 42.16% and increased from $14.15 billion to $20.58 billion.
Increase in the export of cereals
A surge has been seen in the export of cereals. Non-basmati rice saw a spike of 136.04% and reached a value of $4794.54 million, wheat saw an increase of 774.17% and reached a value of $549.16 million while other grains witnessed a rise of 238.28% and were valued at $694.14 million.
A bumper boom in other agricultural products
In 2019-20 an excellent growth was witnessed in agricultural produce.
| Serial No. | Crop | Value (Million Dollars) | Growth (in percentage) |
|---|---|---|---|
| 1 | Oil Meal | 1575.34 | 90.28 |
| 2 | Sugar | 2789.97 | 41.88 |
| 3 | Raw Cotton | 1897.20 | 79.43 |
| 4 | Vegetables | 721.47 | 10.71 |
| 5 | Vegetable Oil | 602.77 | 254.39 |
US, China, Bangladesh, UAE, Vietnam, Saudi Arabia, Indonesia, Nepal, Iran and Malaysia are the biggest markets of India’s agricultural produce. The largest growth in business was for Indonesia (102.42%) followed by Bangladesh (95.93%) and Nepal (50.49%).
Increase in export of spices
India’s export of spices has touched the highest mark of all times in 2020-21. It estimates to be almost $4 billion now. There is a huge demand for ginger, black pepper, dal chini, cardamom, turmeric, saffron, etc. These spices also have medicinal value. This is the reason behind the rise in export.
Stats of export of spices between 2020-21
| Serial No. | Crops | Export Value (Million Dollar) | Increase (In Percentage) |
|---|---|---|---|
| 1 | Black Pepper | 1269.38 | 28.72 |
| 2 | Dal Chini | 11.25 | 64.47 |
| 3 | Nutmeg, Mace and Cardamom | 189.34 | 132.03 |
| 4 | Ginger, Saffron, Turmeric, Oregano, Tej Patta etc | 570.63 | 35.44 |
Export from clusters
First-time export was done from clusters. Vegetables from Varanasi and black rice from Chandauli were exported for the very first time. Oranges from Nagpur, bananas from Theni and Anantapur, mangoes from Lucknow etc. were also exported. Even after the pandemic, horticultural produce was exported to Dubai, London and other places via aeroplanes and sea routes. The government has developed many departments such as the department for market linkage, post-harvest value chain development to help farmers.
In 2020-21, food grain export has performed very well. For the first time, rice was exported to Timor-Leste, Puerto Rico, Brazil. Similar to this, wheat was exported to Yemen, Indonesia, Bhutan and other countries. While other food grains were exported to Sudan, Poland, Bolivia etc.
This foreign export has helped farmers. They are motivated and trying to increase the output. As the production will increase, there will be more grains in the mandis. This would increase the work of commission agents. In such a scenario, commission agent would need assistance which not only eases down their work but also decrease the time consumed in mandi accounting by 90%. Understanding the concerns of commission agents in mandi accounting and turning them into opportunities, Bijak which is India’s Number 1 Agritrading App, came up with a solution called ChargeERP.
ChargeERP the solution
ChargeERP mandi accounting software has been designed keeping in mind the daily interactions of commission agents in agricultural mandis. It is a cloud-based accounting software introduced with the core aim of reducing the agent’s workload. ChargeERP is the easiest, fastest and most secure mandi accounting software available in India. One of the many benefits of this platform is that it can be accessed from anywhere and from multiple devices. It provides data security with end-to-end encryption. Plus, it doesn’t require any kind of technical or accounting expertise.
If you are looking to explore more about this next-level accounting software, feel free to dial +91 9311341199 or visit www.chargeerp.com, and request your free demo today. We also suggest that you follow us on Facebook for regular updates. You can also view the latest instructional videos on the ChargeERP YouTube channel.