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Groundnut exports continue upward trend on good demand.


Date: 24-11-2020
Subject: Groundnut exports continue upward trend on good demand
Ahmedabad: The export of groundnut has continued its upward journey by clocking a 19% growth in terms of volume following a good demand from the international market.

According to the provisional data compiled by Agricultural and Processed Food Products Export Development Authority (APEDA), the groundnut export from India surged close to 1.9 lakh tonnes during April-September period this fiscal as against 1.6 lakh tonnes in the same period last financial year.

Being the largest producer of groundnut in India, Gujarat accounted roughly for around 55% of the groundnut exports made during April-September period.

In rupee terms, the exports growth is even higher at 33%. The exports touched Rs 1,776 crore in the first six months of 2020-21 from Rs 1,328 crore in the first half of 2019-20, APEDA data further shows.

Majority of groundnut exports have been to Indonesia, Vietnam, Malaysia, Philippines, Thailand and China.

“There is a good demand for our groundnut in the export market. In addition to regular buyers, several exporters have also turned to India for procuring groundnut due to lower production of the oilseed in China. This has helped increase our groundnut exports,” said Samir Shah, president, Saurashtra Oil Millers Association (SOMA). 

“Groundnut production in China is estimated to be lower by 40 lakh tonne this year. Hence, there has been a diversion of orders from China to India,” Shah added. 

Groundnut oil exports have seen even bigger jump in exports mainly on account of heavy buying by China.

The increase in export demand for groundnut and its oil has come as a major boon to Gujarat, which is expected to harvest a record production of 35 lakh tonnes this kharif season. 

Gujarat had also registered a 57% growth in groundnut exports in 2019-20. The exports stood at 4.7 lakh tonnes as compared to 3 lakh tonnes in 2018-19.

Source:-timesofindia.indiatimes.com

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