Higher price realisations for commodities such as rice, despite a decline in volumes, have helped push up farm product exports in dollar value terms for the April-September period in the current financial year over the corresponding period last year.
Total value of shipments under Agricultural and Processed Food Products Export Development Authority (APEDA) product portfolio exceeded the $9 billion mark for the said period. In rupee terms, the value of the shipments registered an increase of 8.9 per cent aided by a weak currency at Rs 61,789 crore.
Despite a dip in volumes on account of a slowdown in purchases by key buyer Iran, Basmati Rice exports in value terms were up by about 6 per cent in dollar terms and around 12 per cent in rupee terms on higher pricing. Iran had imposed a ban on basmati imports from late July to protect its domestic growers.
The average realisations for Basmati were higher at $1,082 per tonne as against $997 in the corresponding period of the previous year. In rupee terms, Basmati Rice exports stood at ?15,331 as against Rs 13,706 crore.
Like Basmati, non-Basmati Rice shipments also suffered a slowdown on account of higher duty imposed by Bangladesh and reduced purchases from African countries. However, the average per-unit realisation was higher at $411 per tonne as against $407 in the corresponding of the previous year.