Categories: Business

edible oil export rises 54 percent in 2019-20 says SEA

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edible oil export up 54%

new Delhi. Export of edible oils from the country increased by 54 percent to 80,765 tonnes in FY 2019-20. The reason for this increase was due to the huge increase in groundnut oil exports, especially to China. This was informed by the Solvent Extractors Association (SEA), a leading organization of oil industries on Thursday. In terms of value, edible oil shipments grew by 52.36 per cent to Rs 955.51 crore as against 52,490 tonnes in 2018-19, valued at Rs 627.11 crore. The country exports small quantities of edible oils to meet the demand of Indians settled abroad. Otherwise, edible oils are the third largest imports in India after crude oil and gold.

According to SEA, the country exported 80,765 tonnes of various edible oils valued at Rs 955.51 crore during the year 2019-20, while 52,490 tonnes of edible oils were exported during the previous year 2018-19 valued at Rs 627.11 crore. Exports of groundnut oil in total exports have increased from 15,532 tonnes in the previous year to 38,225 tonnes in the year 2019-20. It was mainly exported to China with a volume of 33,505 tonnes. Soybean oil exports during the period increased to 9,822 tonnes from 4,245 tonnes last year, while coconut oil exports increased from 6,814 tonnes to 7,870 tonnes and sesame oil exports to 5,618 tonnes from the earlier 4,984 tonnes.

Soybean oil was mainly exported to Bhutan (5,708 tonnes), United States (1,140 tonnes) and Canada (2,193 tonnes). However, mustard oil exports declined marginally from 3,917 tonnes in the previous year to 3,881 tonnes in 2019-20. Export of cottonseed oil also decreased to 478.25 tonnes from 512.27 tonnes in the previous year and 0.19 tonnes from 5.79 tonnes of maize oil during the same period. Mustard oil was mainly exported to the United Arab Emirates or the UAE (963 tons) and the US (445 tons). The export of paddy husk oil (rice bran oil) was allowed in bulk from September 2015, which boosted its exports and it is reported to export 12,520 tonnes (including very small quantities of mahua and mango kernel oil), the value of which 126.72 crores. Paddy bran oil is mainly exported to America, Japan, Malaysia and Thailand. It states that edible oils are freely exportable in bulk, while mustard oil is allowed to be exported in consumer packs of up to five kg.

This post was published on July 16, 2020 6:03 pm

Content Team

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