IOPEPC: Oilseeds export may cross Rs 10,000 cr this fiscal

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India’s oilseed exports may rise to over Rs 10,000 crore in the current financial year as an increase in the sown area will boost production, exporters body IOPEPC said on Wednesday.

The main oilseeds exported by the country are soyabean, groundnut, sesame, castor, niger, and sunflower. Indian Oilseeds and Produce Export Promotion Council (IOPEPC) Chairman Khushwant Jain said as of July 2, planting of total oilseeds in the country has significantly increased to 109.225 lakh hectares as compared with 33.656 lakh hectares by the same period a year ago.

Soyabean and groundnut occupy 61 percent and 23 percent, respectively of the total Kharif oilseeds area, he said adding the planting of sunflower stands at 19.7 percent and sesame at 12.4 percent. He said Madhya Pradesh alone has one-third (34.64 percent) of the national oilseeds area followed by Maharashtra (22 percent), Gujarat (13.53 percent) Rajasthan (11.43 percent), Karnataka (5.04 percent), Andhra Pradesh (5.02), Uttar Pradesh (2.66 percent), Telangana (1.74 percent) and Tamil Nadu (1.21 percent).

“Significant increase in acreage will help in boosting production this year and this means we will be able to export more. We are expecting to cross Rs 10,000 crore in 2020-21 as against Rs 9,497 crore in 2019-20,” Jain told PTI. He added that the pandemic has impacted the exports in April, and May, but “we are expecting that it will gain momentum from September”.

The key export destinations for India are Indonesia, China, Malaysia, the Philippines, and the European Union. The major oilseeds growing states are Madhya Pradesh, Maharashtra, Gujarat, Rajasthan, Karnataka, and Andhra Pradesh. Jain said the availability of underground water, as well as timely monsoon, have encouraged the farmers, and this year, till now the rainfall has been more or less normal in the major oilseeds growing states.

“Hence, the farmers could take up early sowing of soyabean in Madhya Pradesh and Maharashtra and that of groundnut in Gujarat, Rajasthan, and Maharashtra,” he added. Jain also said the new agricultural marketing policy will not only enable farmers to sell their products anywhere in India but also fetch them premium prices for their quality produce.

“In addition, the new policy will brighten the prospects of contract farming and Farmer Producer Organizations (FPOs). I hope that the practice of fixing minimum support prices (MSP) and procurement would continue in the larger interest of the farmers,” he said.

Read More at: https://www.outlookindia.com/newsscroll/oilseeds-export-may-cross-rs-10000-cr-this-fiscal-iopepc/1889625

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