Oilseed exports may grow by 10-15 per cent this fiscal: Exporters

NEW DELHI: India’s oilseed exports are expected to grow by 10-15 per cent during this fiscal as traders are getting good orders from regions like Southeast Asia, Latin America and Africa, according to exporters.

In 2022-23, the oilseed exports rose by over 20 per cent to $1.33 billion (around Rs 10,900 crore). The main oilseeds exported by the country are groundnut, sesame, soyabean, castor, niger, and sunflower.

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

Soyabean and groundnut occupy 61 per cent and 23 per cent, respectively of the total kharif oilseeds area, he said adding the planting of sunflower stands at 19.7 per cent and sesame at 12.4 per cent.

He said Madhya Pradesh alone has one-third (34.64 per cent) of the national oilseeds area followed by Maharashtra (22 per cent), Gujarat (13.53 per cent) Rajasthan (11.43 per cent), Karnataka (5.04 per cent), Andhra Pradesh (5.02), Uttar Pradesh (2.66 per cent), Telangana (1.74 per cent) and Tamil Nadu (1.21 per cent).

“Significant increase in acreage will help in boosting production this year and this means we will be able to export more,” Jain said.

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

Indian Oilseeds and Produce Export Promotion Council (IOPEPC) vice-chairman Rutuparna Dole said that going by the current situation, “we expect a growth of 10-15 per cent”. He said groundnut and sesame seeds account for 80-85 per cent of total oilseed exports.

“The government is providing a lot of support to us. They are giving certified seeds to farmers, which is very important. We are conducting awareness programmes,” Dole added.