Dear Friends,
It is my pleasure to address you all once again through this desk, reflecting on the strides we have made and the challenges we have encountered in the export of Indian Oilseeds. As we continue our journey to enhance India’s position in the global Oilseeds market, I am proud to share the progress and developments from the recent fiscal year.
Our efforts in promoting the export of Indian Oilseeds have yielded positive results, particularly in the Groundnut sector. For the fiscal year 2023-2024, we witnessed a robust growth in the Groundnut exports. The export value increased by 3.6%, reaching approximately ₹7,057 crore (about USD 851 million), while the export quantity rose by 1.67% compared to the previous year. This growth is a testament to the concerted efforts of our stakeholders and the growing global recognition of the quality of Indian Groundnuts. However, the initial months of the fiscal year 2024-2025 have presented some challenges. From April to June 2024, Groundnut exports experienced a dip, with a 3.56% decline in quantity and a 12.62% decrease in value compared to the same period last year. Specifically, exports to Vietnam have suffered a significant decline of 40.06% in quantity, while exports to Malaysia have decreased by 14.27% in quantity.
One of the key factors contributing to the decrease in Groundnut exports to Vietnam is the reduced demand from China. Historically, Vietnam imported a substantial amount of Groundnuts from India, with around 70% of these being re-exported to China. However, with China sourcing Groundnuts from Sudan and other African countries, Vietnam has reduced its imports from India.
Despite these challenges, there is an optimism on the horizon. Countries like Indonesia, which started with modest imports, have shown significant improvement, EU countries like Greece, Georgia and Netherlands and new markets such as Iran are demonstrating a positive trajectory in the Groundnut Exports.
Similarly, the Sesame sector has demonstrated significant growth. In the fiscal year 2023-2024, the sector witnessed a remarkable 23.37% increase in the value of Sesame seed exports, amounting to approximately ₹4,329 crore (about USD 523 million), alongside a 4.9% rise in export quantity. Despite this strong performance over the year, the period from April to June 2024 experienced a decline, with Sesame exports dropping by 10.36% in quantity and 10.69% in the export value. However, there are encouraging developments too. Notably, import levels have increased in the key markets such as Russia, Vietnam, and Indonesia. Additionally, the European Union has reported a 10.44% increase in imports during the same period compared to the previous fiscal year, reflecting a positive trend, and suggesting a resilient demand for Indian Sesame seeds.
Friends, as we move ahead with an aim to increase our Oilseeds exports, we are on the cusp of finalizing a comprehensive Standard Operating Procedure (SOP) for Sesame seed exports to the United States. This new SOP is designed to align with the successful framework established for exports to European Union countries. By implementing this streamlined procedure, we aim to enhance the efficiency of our export processes and ensure that our Sesame seeds meet the stringent quality standards required by the U.S. market.
In parallel, we are also engaging in proactive discussions with the Japanese Oils and Fat Importers and Exporters Association (JOFIEA) to reinstate Indian Sesame seed exports to Japan. This market has historically been significant for us, but recent challenges related to pesticide residues have impacted our exports. To address these concerns, we have intensified our efforts to educate farmers about the judicious use of pesticides and to promote Good Agricultural Practices (GAP). These initiatives are making a tangible difference, and we are optimistic about restoring our trade relationships with Japan.
Furthermore, we are excited to host the 6th Global Oilseed Conference (IGOC - 2024), which will be held from October 25th to 27th, 2024, at Hotel The West in Goa. This conference will serve as a key platform for over 200 delegates from around the world to network, share insights, and explore new opportunities within the Oilseeds sector. The event promises to be a significant gathering for industry professionals and other stakeholders.
In conclusion, while we navigate through various challenges, our strategic initiatives and the positive developments in emerging markets provide a reason for optimism.
I am deeply grateful to all our contributors for their unwavering support and for enriching our publication with their valuable insights.
Thank you all for your continued commitment and support. Your efforts are instrumental in advancing our mission and achieving our goals.
Rutuparna Dole
Chairman
Indian Oilseeds & Produce Export Promotion Council (IOPEPC)