banking service chronicle Published this article page no 12 However this blending led to an increase in dependency of India on imports of edible oil and also Stagnation of land under Mustard cultivation in last 25 years. Expected benefits of the ban on blending It will encourage mustard growers to increase sowing area under mustard crop leading to higher domestic production of mustard oil and fall in edible oil imports in the long run. Replace traditional rapeseedmustard oil varieties with Canola rapeseedmustard to provide healthy oil for human consumption. 6.8. INDIAS AGRICULTURAL EXPORT Why in news? According to the commerce ministry countrys agricultural exports are anticipated to exceed US$ 50 billion for the first time this fiscal year. More about news Rice exports are expected to reach 2122 million tonnes this year. Nonbasmati rice wheat sugar and other grain exports have also seen healthy growth. Marine product exports are expected to exceed US$ 8 billion for the first time this fiscal year. Coffee exports have registered a healthy growth of around 35%. Government steps to increase exports Extending validity of various certifications accreditations beyond their expiration dates establishing control rooms to handle issues issuing online certificates for exports and enabling the opening of more testing facilities. About Indias Agricultural Exports India is net exporter of Agri products. As per WTOs Trade Statistics share of Indias agricultural exports and imports in the world agriculture trade in 2017 was 2.27% and 1.90% respectively. Indias total exports have an 11% contribution from agricultural and processed food products. Key Exported commodities Marine products basmati rice buffalo meat spices nonbasmati rice cotton raw oil meals sugar castor oil and tea. Key Destinations Indian agriculturalhorticultural and processed foods are exported to more than 100 countriesregions with USA as the largest export destination during 202021 followed by other destinations like China Bangladesh UAE Vietnam and Saudi Arabia. Export as percentage of GDP The agricultural exports as a percentage of Indias agricultural GDP has increased from 9.4 % in 201718 to 9.9 % in 201819. Agriculture Export Facilitation Centre (AFEC) Pune It is Indias first AFEC established by the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA) in association with the National Bank for Agriculture and Rural Development (NABARD). It aims at boosting the agricultural and food exports of Maharashtra by disseminating needbased information providing timely guidance and organising training courses for all stakeholders. It will serve as a onestop destination to provide exporters all possible assistance. Food Safety and Standards Authority of India (FSSAI) It is an autonomous statutory body established under the Food Safety and Standards Act 2006 banking service chronicle buy.
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