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India's Rice, Tea, Coffee Exports Rise in May; Oilmeal, Gems & Jewellery Export Decline

19 Jun 2024 5:01 pm
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MUMBAI, 19 Jun (Commoditiescontrol): India recorded a notable increase in exports of rice, tea, and coffee in May, while exports of oilmeal, spices, and gems & jewellery experienced declines, according to data released by the commerce ministry.

Rice exports in May grew by 2.8% year-on-year, reaching $1 billion, up from $977.28 million during the same period last year. Tea exports also saw a significant rise, with values climbing to $64.66 million compared to $54.07 million a year ago. Coffee exports surged to $185.54 million, a substantial increase from $112.97 million in May of the previous year. The export value of fruits and vegetables jumped by 20.8% year-on-year, amounting to $295.97 million. Meat, dairy, and poultry product exports also experienced a robust growth of 23%, totaling $378.37 million in May.

Conversely, the export value of oilmeal dropped by 25.2% year-on-year to $113 million, while oilseed exports rose by 5.8% to $109.82 million. Spices exports fell by 20.3% to $361.17 million, and other cereals experienced a sharp decline of 81.5%, plummeting to $19.37 million. Gems & jewellery exports decreased slightly by 2.2% year-on-year, totaling $2.76 billion.

On the import front, India saw an increase in the import values of vegetable oil, pulses, and silver in May. Vegetable oil imports rose to $1.45 billion from $1.14 billion in May 2023. The value of pulses imports more than doubled, reaching $370.91 million compared to $131.84 million a year ago. Silver imports saw a significant surge, rising to $137.93 million from $27.15 million in the previous year. Imports of fruits and vegetables also increased by 3% year-on-year, totaling $224.80 million. Additionally, imports of petroleum, crude, and products rose by 28.1%, amounting to $19.94 billion.

However, gold imports saw a decline of 9.8% year-on-year, falling to $3.33 billion. Imports of iron and steel decreased by 6.7%, reaching $1.70 billion. The import value of raw cotton and cotton waste fell by 24.5% year-on-year, totaling $43.88 million in May.

These trade dynamics highlight the mixed performance in India's export and import sectors, reflecting both growth and challenges across various commodities. The rise in agricultural exports underscores strong global demand, while the decline in imports of certain industrial raw materials points to a shifting economic landscape.

(By Commoditiescontrol Bureau; +91 98201 3018)

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