Coffee leads key farm produce with impressive growth in export earnings
Farm produce led with USD 28.5 billion, up nearly 17 per cent. Aquatic exports rose to USD 8.1 billion and wood exports to USD 12.5 billion. Livestock products grew over 18 per cent, while inputs surged 33 per cent.
Asia accounted for 44 per cent of shipments, followed by the United States at 23 per cent and Europe at 14 per cent. Exports to Europe jumped more than 40 per cent and exports to Africa nearly doubled. The United States, China, and Japan were the top markets, with growth from 9 to 24 per cent.
Coffee exports neared USD 7 billion, up more than 60 per cent, fuelled by a 45 per cent rise in average prices to above USD 5,600 per tonne. Germany, Italy, and Spain were top buyers. Cashew exports increased 19 per cent to nearly USD 3.8 billion, while fruit and vegetable shipments hit USD 6.2 billion despite a slowdown to China. Sales to the United States and Malaysia grew strongly.
Rice exports reached 7 million tonnes worth USD 3.55 billion, steady in volume but down 18.5 per cent in value. Imports of agro-forestry-fishery products rose 12.5 per cent to USD 36.3 billion, mainly from Asia and America.
Exporters expect the sector to set a record this year, though lower rice prices and rising input costs remain challenges.
