New Delhi, Apr 14: Having entered the edible oil export market after more than three decades, India is a making it big with export of over 80,000 tonnes groundnut oil in 2003-04. That may give a fillip to groundnut sowing in the coming kharif season provided there is a normal monsoon, feel traders.


Exports, which began in November, touched a new high of 29,552 tonnes last month with traders getting up to 1150 dollars per tonne in the world market. According to the latest data collated by the Solvent Extractors Association (SEA), India's exports of groundnut oil were 13,324 tonnes (November), 15,880 tonnes (December), 14,300 tonnes (January), 8,000 tonnes (February) and 29,552 tonnes (March).


"The demand for exports did not allow groundnut price to crash and farmers received good rates in the last five months," executive director SEA, B V Mehta, said here. He said this has helped the farmers during harvesting and encouraged them to expand area under rabi sowing. But its real impact will be observed in the upcoming kharif season when a major expansion is expected in the acreage under groundnut.


Bulk of the groundnut oil exports have been to America and Europe and from the Kandla port after major shortfall was reported of the soyabean crop in South America and the US. This also led to firming of the international prices and its spillover advantage to Indian exporters.
India's 2003-04 groundnut production is pegged at around 71 lakh tonnes.


Bureau Report