Groundnut exports rise by 40% in 2014-15

Groundnut export from India has increased sharply by 39 per cent to over 700,000 tonnes during year 2014-15 as against 509,000 tonnes in 2013-14. Lower price in domestic market and good demand for the Indian product mainly pushed exports from the country.

As per Agricultural and Processed Food Products Export Development Authority (APEDA) data, India has exported 708,386 tonnes groundnut during the year 2014-15 as against 509,664 tonnes in the previous year.

Much of it saw being exported to countries like Vietnam, Indonesia, Malaysia, Philippines and Thailand which were some of the highest groundnut exporting regions for India. For instance, export to Vietnam has registered 183,771 tonnes as against 40,660 tonnes.

"Groundnut crop size was lower in last kharif season but demand for Indian groundnut got better in international market in recent times. Moreover, groundnut price was also competitive since domestic market was not so high," said Vikram Duvani, managing director of Rachna Seeds from Junagadh.

According to exporters, average price of Indian groundnut in international market stood between $ 1,000 and $ 1,100 per tonne, whereas in domestic market groundnut prices ranged between Rs 850 and Rs 1,050 per 20 kg during November 2014 and March 2015.

Usually, India exports two types of groundnut, namely Java and bold. "Generally, we export Java quality of groundnut mostly. However, this year demand for bold quality turned out to be good especially from China," said Duvani.

While direct exports to China stood at 33,677 tonnes, traders and exporters believe the real number could be almost doubled than the figure.

Meanwhile, according to the Indian Oilseeds & Produce Export Promotion Council (IOPEPC), there has been good demand for groundnut from India from West Asian countries as well. This, in addition to huge production of good quality groundnut, has helped in controlling groundnut price in domestic market as well as boosting exports especially during April to November 2014-15.