India’s oilseed exports could grow 10-15 percent this fiscal year; exporters

India’s oilseed exports are expected to grow 10 to 15 percent this fiscal year as traders are getting good orders from regions like Southeast Asia, Latin America and Africa, according to exporters.

In 2022-23, oilseed exports increased by over 20 percent to US$1.33 billion (around Rs.10,900 billion). The main oilseeds exported by the country are peanut, sesame, soybean, castor, niger and sunflower.

Khushwant Jain, former chairman of the Indian Oilseeds and Produce Export Promotion Council (IOPEPC), said order books are good and “we expect healthy growth again this year”.

Soybeans and peanuts account for 61 and 23 percent of the total oilseed area in Kharif, respectively. He added that sunflower cultivation accounted for 19.7 percent and sesame for 12.4 percent.

He said Madhya Pradesh alone owns a third (34.64 percent) of the national oilseed area, followed by Maharashtra (22 percent), Gujarat (13.53 percent), Rajasthan (11.43 percent), Karnataka (5.04 percent) and Andhra Pradesh (5.02), Uttar Pradesh (2.66 percent), Telangana (1.74 percent), and Tamil Nadu (1.21 percent).

“A significant increase in acreage will help boost production this year, and that means we can export more,” Jain said.

The main export destinations for India are Indonesia, Vietnam, China, Malaysia, the Philippines and the European Union.

Rutuparna Dole, vice chair of the Indian Oilseeds and Produce Export Promotion Council (IOPEPC), said that given the current situation, we “expect growth of 10 to 15 percent.”

He said peanut and sesame seeds account for 80 to 85 percent of total oilseed exports.

“The government supports us very much. They give farmers certified seeds, which is very important. We run awareness programs,” added Dole.

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