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HomePosts Tagged "FY22-23"
Agro chems – Chemicals, Finance, India, Inputs, Trade

Export has grown at an impressive CAGR of 13 per cent, which is among the highest in the manufacturing sector.

As per the data issued by the Ministry of Commerce (MOC), India’s export of agrochemicals has doubled over the last six years, rising from $ 2.6 billion in 2017–18 to $5.4 billion in FY 2022-23. The export of agrochemicals from India hit a record high of Rs 43,223 crore in the fiscal year 2022–2023, up from Rs 36,521 crore in the previous year. Export has grown at an impressive CAGR of 13 per cent, which is among the highest in the manufacturing sector. As per reported by ICN, excluding the EU, India currently ranks as the third-largest exporter of agrochemicals in the world, after only China and the United States.

India’s agrochemical exports are substantially larger than its domestic market. The agrochemicals market is worth around $74 billion globally. Of this, post-patent chemicals make up about 80 per cent. India is fast becoming a top worldwide location for post-patent agricultural chemicals.

According to CCFI (Crop Care Federation of India), Indian agrochemicals industry requires to be recognized as export intensive industry and all the new investments and projects need to be put on a fast track. The agrochemicals export can easily cross $10 bn in the next 3-4 years. Backward integration, capacity expansion, and new registrations considerably foster the growth. CCFI has made representation to the Finance Ministry seeking the inclusion of agrochemicals under the Production Linked Incentive (PLI) scheme.

Export has grown at an impressive CAGR

AgroPolicy, Cold Storage, Supply Chain

The onion buffer size in current year is 0.50 lakh tons higher than the 2.0 lakh tons created during 2021-22.

Beating past records, the Centre has procured 2.50 lakh tons of onion for the buffer in 2022-23. The onion buffer size in current year is 0.50 lakh tons higher than the 2.0 lakh tons created during 2021-22. The onions were procured from current rabi harvest for the price stabilisation buffer. The stocks have been procured by National Agricultural Cooperative Marketing Federation of India (NAFED) from farmers through the Farmer Producer Organisations (FPOs) in rabi onion growing states of Maharashtra, Gujarat and Madhya Pradesh.

The stocks will be released through targeted open market sales and also offered to states/UTs and government agencies for supplies through retail outlets during the lean months (Aug – Dec) to moderate price rise. Open market releases will be targeted towards states/cities where prices are increasing over the previous month and also in key mandis to augment the overall availability.

The price stabilisation buffer serves the twin objectives of providing remunerative prices to onion farmers and augmenting the availability of onions at affordable prices to the consumers. Onion is a semi perishable vegetable and post-harvest losses due to physiological weight loss, rotting, sprouting etc. are estimated to be substantial. Rabi onion harvested during April – June accounts for 65 per cent of India’s onion production and meets the consumer’s demand till kharif crop is harvested from October-November. It is therefore vital to successfully store onion in order ensure the regular supply.

The onion buffer size in current year