Gnut Extraction Exports May Touch 4 Lakh Tonnes: Jhaveri

According to Jhaveri, with the early onset of monsoon this year, especially in the western region, followed by timely spells of subsequent rains,

production of groundnut was expected to achieve a near-record level in Gujarat/Saurashtra. Current estimates placed the Gujarat groundnut crop at over 2 million tonnes.

S B Jhaveri, chairman, Groundnut Extractions Export Development Association (Geeda), while addressing the 28th annual general meeting of the association, said that there were bright prospects for sustaining the exports of groundnut extractions in the current year. Taking all relevant factors into consideration, we hope to achieve an export target of about 4 lakh tonnes valued at an estimated of Rs 250 crore for the current year, he said.

 

Exports of groundnut extractions during 1996-97 were estimated to be around 3.50 lakh tonnes (Rs 250 crore) as compared to 2.61 lakh tonnes (Rs 136.30 crore) during 1995-96.

The improved figures show an increase of about 33.9 per cent (89,000 tonnes) in terms of volume and 83.4 per cent (Rs 113.70 crore) in terms of value realisation.

Jhaveri stated that with the early onset of monsoon this year, especially in the western region, followed by timely spells of subsequent rains, production of groundnut was expected to achieve a near-record level in Gujarat/Saurashtra. Current estimates place the Gujarat groundnut crop at over 2 million tonnes. The overall picture of kharif groundnut production all over the country also appeared to be bright despite an expected shortfall in the south, especially in Andhra Pradesh.

He observed that a significantly improved groundnut production in Gujarat was the principal factor contributing to a satisfactory growth in the volume of exports.

And a phenomenal rise in value realisation could be attributed to a shortfall in the availability of proteins for animal feeds in the international markets, and the consequent rise in their values all over the world.

Jhaveri also dwelt on the role of the solvent extraction industry, engaged in producing groundnut meal in India, with regard to catering to the rising domestic demand while continuing to serve the established export markets.

There has been a growing tendency of the rapidly expanding poultry and dairy sectors as well as aquaculture farms to consume more of groundnut extractions. On the other hand, with the advent of soyabean on the agricultural scene of India in the mid-eighties, the entire picture had changed.

Being a more costly protein, soyameal has now assumed the position enjoyed by groundnut meal in the late sixties and seventies, principally catering to the export market, Jhaveri said.