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15% growth forecast for oilseed exports this fiscal
15% growth forecast for oilseed exports this fiscal
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.
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 of 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.
"Significant increase in acreage will help in boosting production this year and this means we will be able to export more," Jain said.
