The Hindu Business Line : Groundnut oil export tops 50,000 tonnes

GROUNDNUT oil exports during the first four months of the current season have crossed 50,000 tonnes mark, according to data complied by the Solvent Extractors' Association of India (SEA).

In the month of February 2004, 8,000 tonnes were exported through Kandla Port to Europe and the US. The total exports during current season i.e. from November/February 2004 period is reported as 51,504 tonnes.

It is expected that additional 15,000-20,000 tonnes during the month of March would be shipped and total exports during current season would be around 65,000-70,000 tonnes, worth Rs 300 crore.

The export of groundnut oil has helped the farmers during harvesting, as the export demand did not allow price of groundnut to crash and farmers received good price during last 3 months. This has also encouraged them to expand area under rabi season and its real impact will be observed in coming kharif season in expansion of groundnut area, Mr B.V. Mehta, Executive Director of SEA said.

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