Govt may allow groundnut, sesame seed oil bulk exports

The industry said permitting bulk export of sesame seed oil would open the market in the Far East

The government is considering allowing bulk export of groundnut and sesame seed oil to provide support to farmers who are selling their crops in distress because of a fall in demand after demonetisation. 

The proposal had been put to Cabinet and it could be discussed soon, officials said.

Groundnut in Saurashtra’s major mandi Gondal is selling 4-7 per cent below the minimum support price of Rs 4,200 a quintal. The government fears low realisation will affect sowing and is thus considering allowing exports. 

The agriculture ministry estimates groundnut production this year will be 8.47 million tonnes, up from last year’s