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For a second year, guar gum has emerged as Indias largest item of agricultural export. And, responsible for pushing the countrys overall farm exports to Rs 120,000 crore in 2012-13, show data from the Director General of Commercial Intelligence and Statistics (DGCIS).
Guar gum, has seen rising demand from big Western oil companies on its use as a controlling agent in oil wells for facilitating easy drilling and preventing fluid loss. Between 2010-11 and 2012-13, it has registered 624 per cent rise in exports in value terms.
India is the worlds largest producer of the gum. On average, the country produces 1-1.5 million tonnes of guar annually.
Almost 40 per cent of guar gum produced in the country is used for industrial purposes. In 2012, guar prices in the world markets rose a massive 800-1,000 per cent, chiefly due to large-scale stocking by multinational oil companies over fears of short supplies, following drought in India.
Of Indias total agricultural exports of Rs 120,000 crore in 2012-13, guar gum accounted for 18 per cent, DGCIS figures show. In 2010-11, guar gums total share in Indias overall export of agricultural items was just seven per cent.
Between 2010-11 and 2012-13, export of basmati rice increased 71 per cent in value terms, while that of non-basmati rice rose a massive 6,000 per cent, pushing India to the pole position in this segment globally in 2012.
The share of basmati rice in Indias total agricultural exports from 2010-11 to 2012-13 dropped from 26 per cent to 16 per cent. However, the share of non-basmati rice showed a considerable jump from 0.52 per cent in 2010-11 to 12 per cent in 2012-13, primarily because of the governments decision to lift the ban on its export.
Another item that logged impressive growth in exports, according to the data, was flowers rising 43 per cent in value terms between 2010-11 and 2012-13, to Rs 423 crore.
