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Exports of Indian groundnut to Vietnam rise with shipments

Indian groundnutBy more than one-third the export has increased for Indian groundnut from Vietnam and Indonesia with a bumper crop and strong demand.

However, the exporters are not sure if this development pattern of groundnut deliveries would proceed as the centre has permitted the trade of groundnut oil in large quantities.

In between April-February the exports were 34% higher and reached 6.53 lakh tonnes from 4.88 lakh tonnes exports in comparison with last year, as per the estimation. In comparison within the same period last year the exports for above period was 35% high at Rs.4, 910 crores from Rs.3, 652 crores when seen in rupee terms. In dollar terms, the exports grew by 31% at $728.62 million for April-February this year from $557 million in the last year April-February.

For the jump in groundnut exports, the Exporters cite much reason like attractive prices in the global market, the seeds are available in abundance and the quality is internationally liked.

In April-June the exports to Vietnam have reached to 83,361 tonnes from 18,418 tonnes achieved in FY2015-16 as per data made by Apeda even after by Vietnam the phytosanitary issues raised.

The Chinese variety groundnut’s oil content has only 46-47 % and the Indian groundnut’s oil content is 49-51% and it is more than the Chinese variety. Indian groundnut and import have been preferred by the countries in the Far East largely. Large quantities of Indian groundnut are imported by Indonesia, Vietnam, Malaysia, Philippines and Thailand.

In the state of Gujarat the rise in seed exports has led to an increase of prices and from here almost India’s half groundnut output comes from. In October- November 2016 there has been seen a large fall in Groundnut prices in Gujarat after the harvest with a bumper produce. The prices of groundnut per quintal fell much below the MSP price of Rs.4220/- and reached Rs.2750/- and now has settled around Rs.4500/-.

There is a rise in Indian groundnut production In the Kharif season of 2016-17 and has been recorded at a high of 8.47 metric tonnes.