India has reported a 3.24% year-on-year decline in agricultural exports, attributing the downturn to several significant factors. The recent rice export ban has played a major role in this decrease. The ban was implemented to ensure domestic availability and stabilize local prices, but it has also led to a significant drop in international sales.
Source:- news 18
Additionally, the ongoing crisis in the Red Sea region has disrupted shipping routes and logistics, further hampering the smooth flow of agricultural goods. The geopolitical tensions have resulted in delays and increased costs, contributing to the overall decline in exports.
Source:- BBC news
Moreover, the global drop in maize prices has negatively impacted India’s maize exports. With lower international prices, Indian exporters have faced reduced profit margins, leading to a decrease in the volume of maize shipped overseas.
These combined factors have resulted in a notable decline in India’s agricultural exports. The government is closely monitoring the situation and exploring measures to mitigate these challenges, including potential adjustments in export policies and support for affected sectors. The aim is to stabilize the export market and ensure the continued growth of India’s agricultural sector.
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