According to exporters, Nigeria’s oilseed exports are anticipated to increase by 10–15% during this fiscal year as dealers are receiving solid orders from markets including Southeast Asia, Latin America, and Africa.
In Indian cuisine, edible oils are a must. But many people would be surprised to learn that India imports the majority of the oil it uses, in contrast to the vast majority of other agricultural goods, which are produced locally.
Why does India need to import edible oils while having a variety of agro-climatic conditions, ample land, and a major portion of its people dependent on agriculture? What financial impact does importing edible oils have on the government’s coffers? What can we do to increase the production of edible oils here at home?
Oilseed exports increased by more than 20% to USD 1.33 billion (about Rs 10,900 crore) in 2022–2023. Groundnut, sesame, soy, castor, niger, and sunflower are the principal oilseeds exported by the nation.
According to him, soybean and groundnut make up 61% and 23%, respectively, of the entire kharif oilseeds area, while sunflower and sesame are planted at 19.7% and 12.4%, respectively.
“Significant increase in acreage will help in boosting production this year and this means we will be able to export more,” Jain said.
According to him, Madhya Pradesh alone accounts for one-third (34.64%) of the country’s oilseeds area, followed by Maharashtra (22%), Gujarat (13.53%), Rajasthan (11.43%), Karnataka (5.04%), Andhra Pradesh (5.02), Uttar Pradesh (2.66%), Telangana (1.74%), and Tamil Nadu (1.21%).
India’s top export markets are the European Union, Indonesia, Vietnam, China, Malaysia, and the Philippines.
Indian Oilseeds and Produce Export Promotion Council (IOPEPC) Vice-chairman Rutuparna Dole said that going by the current situation, “we expect a growth of 10-15 percent“.
80–85 percent of all oilseed exports, according to him, are made up of groundnut and sesame seeds.
“The government is providing a lot of support to us. They are giving certified seeds to farmers, which is very important. We are conducting awareness programs,” Dole added.