Unlocking the Export Potential of Vegetable Seeds and the Direction of Trade: 24455
Price: ₹ 1000
https://doi.org/10.35716/IJED-24455
Author: Muralidharan C., Murugananthi D., Somasundaram E., Thangaraj K., Shantha Sheela M., Velavan C., Samsai T. , and Aruna Prabha
Author Address: Department of Agricultural and Rural Management, Tamil Nadu Agricultural University, Coimbatore-641003 (Tamil Nadu)
Abstract
Vegetable
seeds play a crucial role in boosting the agricultural economy by increasing
farm income, employment, export earnings, and nutritional security, and
reducing poverty. The main objective of this study was to examine the export
potentials, opportunities, and trends in the import of vegetable seeds in India
over the past two decades, from 2004 to 2023. An eight-digit ITC (HS) code
classification was used for a product-wise analysis of vegetable seeds. India’s
export quantity of vegetable seeds grew at a Compound Annual Growth Rate (CAGR)
of 8.39 per cent, and value grew at a rate of 14 per cent over the past two
decades. Similarly, the quantity of vegetable seeds imported to India increased
by 15.55 per cent, and the value by 9.4 per cent. India’s import quantity of
vegetable seeds grew faster than exports, but in terms of value, exports
exceeded imports. The transitional probability matrix
showed that the export of vegetable seeds from India was highly stable in Asian
markets, particularly in Pakistan (70.5 per cent) and Bangladesh (63.5 per cent).
However, the assessment of export potential revealed that European and Western
markets, such as the Netherlands (US $29 million) and the USA (US $13 million),
had greater unrealised export potential for Indian vegetable seeds. Therefore,
Indian farmers can tap into these export opportunities in the vegetable seed
sector and directly export to these markets to enhance their farm income and
achieve sustainability.
Keywords
Bilateral
commerce patterns, export, export potential,
import, trade indicators.
JEL Codes
Q13, Q17, Q19.