Re rise to hurt agri exports: APEDA
The appreciating rupee will take a toll on the country's agricultural exports, the APEDA has warned.
By PTI |
NEW DELHI: India's farm exports will bear the brunt of an appreciating rupee, with exporters expecting a slowdown in growth and decline in margins in the face of the rupee strengthening to below the 40-to-a-dollar mark.
"The appreciating rupee will certainly impact the country's agricultural exports," Agriculture and Processed Food Products Export Development Authority (APEDA) Chairman K S Money said one the sidelines of a FICCI seminar.
He said since India's imports of agricultural products is less than exports, the impact would be more profound.
India's agricultural exports increased from Rs 39,863.31 crore in 2004-05 to Rs 49,802.92 crore in 2005-06. During April-September 2006-07, value of agricultural exports was Rs 28,157.52 crore compared to Rs 21,673.25 crore for the corresponding period of last year, registering a growth of 29.91 per cent.
Marine products, oil meals, rice, wheat, tea, coffee, cashew and sugar dominate India's agricultural exports.
Speaking at the seminar on agriculture marketing, Money emphasised on connecting farms to big retail markets.
"Investments in retail sector is necessary. If we invest in retail, export of Apeda-monitored products can increase five-fold," he said.
Exports for Apeda-monitored products stood at over Rs 20,000 crore last fiscal, he added.
"The appreciating rupee will certainly impact the country's agricultural exports," Agriculture and Processed Food Products Export Development Authority (APEDA) Chairman K S Money said one the sidelines of a FICCI seminar.
He said since India's imports of agricultural products is less than exports, the impact would be more profound.
India's agricultural exports increased from Rs 39,863.31 crore in 2004-05 to Rs 49,802.92 crore in 2005-06. During April-September 2006-07, value of agricultural exports was Rs 28,157.52 crore compared to Rs 21,673.25 crore for the corresponding period of last year, registering a growth of 29.91 per cent.
Marine products, oil meals, rice, wheat, tea, coffee, cashew and sugar dominate India's agricultural exports.
Speaking at the seminar on agriculture marketing, Money emphasised on connecting farms to big retail markets.
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"Investments in retail sector is necessary. If we invest in retail, export of Apeda-monitored products can increase five-fold," he said.
Exports for Apeda-monitored products stood at over Rs 20,000 crore last fiscal, he added.
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