Huge demand for food products in global markets due to COVID-19 outbreak, India can tap it: TPCI
The Trade Promotion Council of India (TPCI) on Monday said there is an above 100 per cent spike in demand in essential commodities such as rice, wheat and pulses. Others food categories like- confectioneries, sweets, organic processed food and spices have also witnessed 15-20% rise this month, the council said.
As per TPCI Chairman Mohit Singla, the major destinations where Indian food sector has witnessed demand are the US, Europe, Australia, New Zealand, Israel, Palestine and Egypt.Indian exports are also getting enquires in the fresh/ dehydrated garlic, in the spices category- chilli, ginger and seed spices (cumin, fennel, etc), and sesame seeds/oil, owing to the supply Chain disruption hitting China due to the Coronavirus.
“There is huge opportunity amid this Covid-19 crisis for Indian food sector… The coming few months is crucial for leveraging to the India’s advantages in terms of exports,” he said.
Quoting Organic Tattva, a leading brand for organic food in India, TPCI said there is a huge jump in demand for food items from overseas in the month of March.
“Few big brands like Amul has said that buyers are facing the challenge to pay due to unavailability of banking channel. Another brand Dabur International said, all orders are on hold owing to the Covid-19 crisis,” the council said in a release. Singla added that this surge is primarily driven by the fear that there will be shortage of food in the coming months and consumers have started hoarding essential food commodities.
However, he added that there are also certain challenges for exporters, including shortage of containers, vessels getting delayed owing to fumigation and complying with norms of various countries, delays in clearances, advisories for not entering particular port, and delay in payments.