As per the World Trade Organization’s (WTO) report, Brazil ranks first in the sugar export business followed by India. The Asian nation is the leading producer and consumer of sugar in the world and ranks behind Brazil in terms of sugar export. The year 2022 proved to be a watershed season for the Indian sugar export sector as the Indian sugar mills contracted to export 6.1 million tonnes of sugar.
India, the largest soy exporter in the world, sends the majority of its soybean abroad, primarily to the United States, Sri Lanka, and South Korea. As per 4 industry officials, India’s soymeal exports could more than double in the 2022/23 marketing year, as drought hits the top exporter, Argentina, thereby lifting global prices and prompting buyers to turn to the south Asian country which is offering cheaper rates for the commodity.
The exports of agricultural & processed food products from India witnessed a 16% rise in the months of April-November 22 in the current fiscal year from a year ago.
As per the latest data released by the Ministry of Commerce and Industry, 74% of the annual agricultural goods export target has been met in 8 months of the current fiscal with the help of initiatives taken up by APEDA which works under the ministry.
According to the data compiled by The Solvent Extractors’ Association of India (SEA) – the vegetable oil industry body, India exported approximately 1.77 million tonnes of oilmeal during the first half of the current financial year.
