Agri Business

India sees sharp rise in edible oil exports at 80,765 tonnes for 2019-20

Our Bureau Ahmedabad | Updated on July 16, 2020 Published on July 16, 2020

At current tariff value of USD 573 per tonne for refined palmolein, SOPA said the amount of customs duty being evaded is ₹ 19,968 per tonne.   -  Reuters

Brightens price prospects for oilseed growers

In a major boost for India’s oilseed sector, the country has recorded a sharp jump — nearly 54 per cent — in edible oil exports to 80,765 tonnes for 2019-20, according to government data.

India had exported 52,490 tonnes of edible oils in 2018-19. The country earned ₹955.51 crore during 2019-20 from the exports, which is more than ₹320 crore higher from ₹627 crore recorded in the previous year.

The rise in bulk exports is seen as a big boost to oilseed growers as it brightens the prospects for better remuneration for their oilseed crops. Edible oils are freely exportable in bulk, while mustard oil is allowed in consumer packs not exceeding 5 kg. Major oils exported are groundnut oil, rice bran oil and also small quantity of sesame oil, sunflower oil and mustard oil. Groundnut oil is a major oil exported from India with a total of 38,226 tonnes of exports worth ₹390 crore. China is a major buyer of India’s groundnut oil (crude and edible) with 33,505 tonnes. Last year, India had exported 15,533 tonnes of groundnut oil worth ₹128 crore.

 

 

Bhutan and Canada are the largest buyers of India’s soyabean oil with 5,708 tonnes and 2,193 tonnes respectively, while the US imports 1,140 tonnes of soyabean oil from India. India exported 9,822 tonnes of soyabean oil during 2019-20, which is valued at ₹86.23 crore. Soyabean oil exports for 2018-19 were recorded at 4,246 tonnes worth ₹38 crore.

India also exported mustard oil in consumer packs of 5 kg at 3,681 tonnes worth ₹46.97 crore, mainly to the UAE with 963 tonnes and to the US with 445 tonnes. India reported a rise in exports of sesame oil and coconut oil over the last year at 5,618 tonnes and 7,870 tonnes, respectively, showing a year-on-year growth of over 12 per cent and 15 per cent, respectively.

“The rise in exports of edible oils is a positive development for India’s oilseed growers. This enables higher realisations for their crops,” said BV Mehta, Executive Director, The Solvent Extractors’ Association of India (SEA).

Export of rice bran oil has been allowed in bulk since September 2015, which has helped boost exports. As per data compiled by SEA, India exported 12,521 tonnes of rice bran oil and small quantity of mahua and mango kernel oils worth ₹127 crore. In 2018-19, India exported 12,807 tonnes of rice bran oil. Major buyers for India’s rice bran oils are the US, Japan, Malaysia and Thailand.

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Published on July 16, 2020
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