According to exporters, India’s oilseed exports are anticipated to increase by 10-15% during this fiscal year as traders are receiving good orders from markets including Southeast Asia, Latin America, and Africa.
Oilseed exports increased by more than 20% to US$ 1.33 billion (about Rs. 10,900 crore) in 2022-23. Groundnut, sesame, soy, castor, niger, and sunflower are the principal oilseeds exported by the nation. Moreover, groundnut and sesame seeds account for 80-85% of the total oilseed exports.
According to Mr. Khushwant Jain, the Former Chairman of the Indian Oilseeds and Produce Export Promotion Council (IOPEPC), of the entire kharif oilseeds area, soyabean and groundnut account for 61% and 23%, respectively. The planting of sunflower and sesame stands at 19.7% and 12.4%, respectively.
He added that Madhya Pradesh alone accounts for one-third (34.64%) of the country’s oilseeds area, followed by Maharashtra (22%), Gujarat (13.53%), Rajasthan (11.43%), Karnataka (5.04%), Andhra Pradesh (5.02), Uttar Pradesh (2.66%), Telangana (1.74%), and Tamil Nadu (1.21%).
He further remarked that a significant increase in acreage will help in boosting production this year, hence the country would be able to export more. Indonesia, Vietnam, China, Malaysia, the Philippines, and the European Union are among India’s top export destinations.
