According to the World Trade Organization (WTO), India retained its position as the world’s eighth-largest exporter of agricultural products in 2023. Export Value: India’s agricultural exports were valued at $51 billion in 2023, down from $55 billion in 2022.Global Ranking: Despite the decline, India maintained its eighth position among the top agricultural exporters. Top Exporters: Among the top ten agricultural exporters, only Brazil, the European Union, and Thailand saw an increase in their exports in 2023.The EU maintained its top position in 2023 by exporting agriculture produce valued at $836 billion compared to $799 billion in 2022.The US, too, continued at the second spot despite a drop in agriculture exports in 2023 to $198 billion as opposed to $222 billion in the previous year.Brazil’s agriculture exports increased to $157 billion in 2023 from $148 billion in 2022 while it retained the third spot.China was the fourth largest agriculture exporter in 2023 with shipments valued at $95 billion which was marginally below exports worth $96 billion in 2022.Geopolitical Factors: The decline in India’s agricultural exports can be attributed to several geopolitical factors, including the Red Sea crisis and the ongoing Russia-Ukraine war.Export Bans: India also imposed bans on the export of key agricultural products such as wheat (May 2022), non-basmati rice (July 2023), and sugar (October 2023), which contributed to the decline.Global Share: The top ten agricultural exporters collectively represented a 71.9% share of world exports in 2023.
