Oilseed exports from India will grow by 10-15% in the current financial year

Published 2023년 6월 26일

Tridge summary

Exports of oilseeds from India are projected to grow by 10-15% in monetary terms in the current financial year, driven by increased orders from Southeast Asia, Latin America, and Africa. In the previous fiscal year, India's oilseed exports reached $1.33 billion, a 20% increase from the previous year. The major oilseeds exported by India include peanuts, sesame, soybeans, and sunflowers, with key destinations being Indonesia, Vietnam, China, Malaysia, the Philippines, and the European Union.

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Original content

According to the results of the current financial year (ends on September 30, 2023), exports of oilseeds from India will grow in monetary terms by 10-15%, as traders record an increase in orders from countries in Southeast Asia, Latin America and Africa, writes The Economic Times with reference to the former Chairman of the Indian Oilseeds and Horticultural Export Promotion Council (IOPEPC) Khushwant Jain. In the previous fiscal year, India exported $1.33 billion worth of oilseeds, up 20% from the same period last year. India's main oilseeds are peanuts, sesame, soybeans and sunflowers. The main export destinations are Indonesia, Vietnam, China, Malaysia, the Philippines and the European Union. According to Khushwant Jain, the state of Madhya Pradesh accounts for a third (34.64%) of all oilseed crops, followed by the states of Maharashtra (22%), Gujarat (13.53%). Rajasthan (11.43%), Karnataka (5.04%), Andhra Pradesh (5.02%), Uttar Pradesh (2.66%), Telangana (1.74%) and Tamil Nadu ...

Source: Oilworld