Groundnut exports jump 38% in first half of FY 15

India exported over 220,000 tonnes of groundnut between April and September 2014

Global demand for groundnut has propelled its exports from India by 38 per cent in the first six months of 2014-15.

The industry expects this demand to pick up after the culmination of Diwali festivities and overall export is likely to cross last financial year's figures. India, industry sources say, has exported over 220,000 tonnes of groundnut between April and September 2014, 38 per cent higher than last year's export figure of 160,000 tonnes for the same period.

The overall groundnut exports in 2013-14 stood at 509,000 tonnes, while in 2012-13, it was 535,000 tonnes.

Reacting to strong export demand of groundnut from India, Kishore Tanna, chairman, Indian Oilseeds and Produce Export Promotion Council (IOPEPC), said, "There has been good demand for groundnut from India in West Asian countries. This, in addition to huge production of good quality groundnut, has helped in controlling the price of the commodity in domestic market and boosting exports."

Country's total groundnut production in 2013-14 was 6.48 million tonnes, according to IOPEPC data, higher than the 4.33 million tonnes registered in 2012-13.

Country's groundnut exports in the first quarter of this financial year grew by about 57 per cent to touch 153,756 tonnes in comparison to 97,803 tonnes during the same period in the previous financial year.

Tanna said, "Taking into account the present scenario, country's groundnut export is likely to be around 600,000 tonnes by March 2015."

Mukund Shah, president, Gujarat Oilseeds Processors Association (GOPA) said, "Export has increased this year on back of strong demand from Indonesia, Malaysia and Philippines. Demand from Russia and China are likely to pick up from November."

Shah added that the industry faced some policy-level issues with government last year related to exports resulting in its reduction. Following exemption in registration and certification rules, exports have gone up.

It may cross 600,000 tonnes, he said, but still it won't touch the 2011-12 numbers when India exported about 832,000 tonnes of groundnut.