The Hindu Business Line : Gujarat Ambuja Exports bags orders to ship groundnut oil

Ahmedabad, Jan 4 Gujarat Ambuja Exports Ltd (GAEL), a leading player in solvent extraction of oilseeds and edible oil refining sector, has bagged orders to export groundnut oil to the European countries to the tune of more than Rs. 200 crore, according to a company spokesman here.

During 2003-04, India exported 1.10 lakh tonnes of groundnut oil, out of which GAEL’s share was more than 35,000 tonnes.

Export growth

This year also the supply and demand in the world as well as the price realisation of exports have propelled the growth of export market. It is expected that the year 2007-08 would see a repeat performance of 2003-04.

As compared to other edible oils where the price rise has been almost 50-90 per cent, the rise in groundnut oil was still 20 per cent in the last eight months, according to a release.

Rise in prices

GAEL has total edible oil refining capacity of 3.60 lakh tonnes per annum. The global edible oil scenario is in a bullish phase with prices of all edible oils, including soyabean and palm oil, witnessing a rise of almost 50-90 per cent in the last eight months.

The groundnut oil has wide acceptance in western India as an edible oil and there is a huge demand in the European countries for this oil.

India is one of the major groundnut oil producing country and the year 2007-08 has seen the world price of groundnut oil rise to make export of groundnut oil from India viable.

For the half year ended on September 30, 2007, the company had already reported EBITDA of more than 10 per cent for the solvent extraction and edible oil refining activities which is more than double the EBITDA margin of that earned in the year 2006-07, the release added.

More Stories on : Oilseeds & Edible Oil | New Business

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Inbound westerly system hits central Asia

Wheat acreage deficit narrows down

Pawar calls for integrated approach within fisheries sector

Inflation rate up on costlier manufactured items

Pitch for home stay in arecanut plantations

Active covering groups help rubber recoup

Go slow on genetically modified crops: Expert

Heritage Foods pref issue

Gujarat Ambuja Exports bags orders to ship groundnut oil

Pepper futures shoot up on tight supply