In the Groundnut sector, our promotional efforts have yielded encouraging results. For the fiscal year 2023-2024, we recorded a notable 3.6% increase in export value, reaching approximately ₹7,057 crore (USD 851 million), alongside a 1.67% growth in quantity over the previous year. This upward trend reflects the steadfast dedication of our stakeholders and the growing global appreciation for the quality of Indian Groundnuts. However, challenges persist, particularly in the early months of the current fiscal year. Data from April to September 2024 shows mixed performance across key markets. Indonesia has demonstrated strong growth, with a 45.37% increase in quantity and a 27.33% rise in export value. Conversely, Vietnam has experienced a decline, with a 37.19% drop in quantity and a 45.45% decrease in value, potentially due to shifting demand or rising competition. Other markets like the Philippines and Thailand have shown moderate growth, while Malaysia exhibited only minimal growth in quantity, accompanied by a decline in value.

Overall, while Groundnut export quantities increased by 12.87%, the export value experienced a slight decline of 1.40%, likely attributed to fluctuating global prices and currency variations.

In light of these challenges, there are significant opportunities in emerging markets such as Algeria, EU, UK, etc. These regions represent promising avenues to expand our Groundnut exports, offsetting declines in more established markets. By tapping into these emerging markets, we can diversify our export destinations, reduce reliance on volatile regions, and enhance both quantity and value growth.

Similarly, for FY 2023-2024, the value of Sesame seed exports rose by 23.37%, reaching ₹4,329 crore (USD 523 million), accompanied by a 4.9% increase in export quantity. However, the data from April to September 2023 and 2024 reveals mixed performance across various markets. Korea and Russia exhibited significant growth, with Korea showing a 27.17% increase in quantity and 19.69% rise in value, and Russia leading by 24.47% in quantity and 16.69% in value. These markets indicate a rising demand for Indian sesame seeds.

and present potential for further expansion. On the other hand, the USA and Saudi Arabia saw substantial declines, with the USA registering a 6.83% drop in quantity and 12.92% in value, while Saudi Arabia's decline was more pronounced at 30.62% in quantity and 33.31% in value. These shifts suggest market transitions and increased competition from other Sesame exporting countries. While overall Sesame export quantities decreased by 4.10%, the export value dropped by 8.52%.

As we focus on mitigating these declines, markets such as Iraq and Peru show great promise for expanding Sesame exports. These emerging markets present significant opportunities to offset declines in the traditional markets.

Friends, a significant achievement for IOPEPC is the recent notification from the Directorate General of Foreign Trade (DGFT), designating IOPEPC as the authorized body to issue export certifications for Sesame seeds to the USA, effective November 16, 2024. This certification, backed by quality analysis from NABL-accredited labs, ensures compliance with the USA's stringent standards. It is a proud outcome of our ongoing efforts to streamline processes, reduce rejection rates, and enhance the reliability of Indian Sesame exports to USA.

Additionally, we are proud to announce the success of the 6th Global Oilseed Conference (IGOC 2024), which was held from October 25th to 27th, 2024 at The Westin, Goa. The conference attracted over 230 delegates from across the globe, making it an exceptional platform for networking, knowledge-sharing, and exploring new business opportunities in the Oilseed sector. The event underscored our commitment to advancing India’s Oilseed industry and strengthening international partnerships.

Friends, as we continue navigating this dynamic global landscape, we are optimistic about the opportunities that lie ahead. The resilience of our sector, supported by strategic initiatives and the growing demand from emerging markets, provides a strong foundation for sustained growth.

I would also like to take this opportunity to express my heartfelt gratitude to the guest contributors for your unwavering support, your insights, and your continued dedication to our shared mission. The success of our efforts depends on the commitment of each one of you, and together, we will continue to drive the growth and prosperity of India’s Oilseed industry on the global stage.

Rutuparna Dole
Chairman
Indian Oilseeds And Produce Export Promotion Council (IOPEPC)