India's edible oil exports rose 54 percent to 80,765 tonne in the financial year 2019-20, on a sharp increase in shipment of groundnut oil especially to China, trade body SEA said on Thursday.
In value terms, the edible oil shipments increased 52.36 percent to Rs 955.51 crore, against 52,490 tonnes valued at Rs 627.11 crore in 2018-19, it said in a statement.
The country exports edible oils in small quantities to meet expatriate demand. Otherwise, edible oil is India's third-biggest import item after crude oil and gold.
According to the Solvent Extractors' Association of India (SEA), the country exported 80,765 tonnes of various edible oils valued at Rs 955.51 crore during 2019-20, against 52,490 tonnes valued at Rs 627.11 crore during the previous year 2018-19.
Of the total exports, groundnut oil shipments more than doubled to 38,225 tonnes in 2019-20, from 15,532 tonnes last year. It was mainly exported to China at 33,505 tonnes, it said.
Soyabean oil exports rose to 9,822 tonnes from 4,245 tonnes, while that of coconut oil exports to 7,870 tonnes from 6,814 tonnes and sesame oil to 5,618 tonnes from 4,984 tonnes in the said period.
Soyabean oil was mainly exported to Bhutan (5,708 tonne), USA (1,140 tonne) and Canada (2,193 tonne).
However, export of mustard oils declined marginally to 3,881 tonne in 2019-20 from 3,917 tonne in the previous year, while that of cottonseed oil shipment dropped to 478.25 tonnes from 512.27 tonnes and maize oil to 0.19 tonnes from 5.79 tonnes in the said period.
Mustard oil was mainly exported to the UAE (963 tonne) and the US (445 tonnes).
Export of rice bran oil was allowed in bulk since September 2015, which boosted its export and reported at 12,520 tonnes (including very small quantities of Mahua and Mango kernel oil) valued at Rs 126.72 crores. Rice bran oil is mainly exported to the US, Japan, Malaysia and Thailand.
Major oils exported are groundnut oil, rice bran oil and also small quantities of sesame oil, sunflower oil and mustard oil.
Export of edible oils are freely exportable in bulk, while mustard oil is allowed in consumer packs not exceeding 5 kg, it added.
Source:- moneycontrol.com