As we work towards achieving Atmanirbharta in Oilseeds production, India is steadily advancing toward its goal of becoming self-reliant in this critical sector. Our shared dedication to sustainable growth, innovation, and global competitiveness will play a crucial role in shaping India's trajectory as we approach the vision of a Viksit Bharat by 2047.
In the Groundnut export sector, our export performance for the fiscal year 2023-2024 has been commendable, with a 3.6% increase in export value, reaching ₹7,057 crore (USD 851 million). This growth, coupled with a 1.67% rise in export quantity, reflects the robust demand for Indian Groundnuts in global markets.
Looking at the April to October 2024 period, we have witnessed an impressive 11.26% increase in export quantity, indicating a positive trend in global consumption of our products. However, the export value saw a slight decline of -2.76% during the same period. Despite this fluctuation, the global market remains a significant opportunity for our exporters. Notable markets for our Groundnut exports include Indonesia, which saw a substantial growth of 37.74% in quantity, and the Philippines, where export volume grew by 15.52%. On the other hand, exports to markets such as Vietnam and Malaysia experienced declines, indicating the dynamic nature of global trade and highlighting the need for continued market diversification and strategic adjustments.
India's Sesame Seed export sector had encountered some challenges earlier but is gradually showing signs of recovery. From April to August 2024, the volume of exports decreased by 8.80%, while the value dropped by 11.38% compared to the same period in 2023. However, a positive shift occurred in September and October 2024, as exports picked up, contributing to a rebound in performance. This improvement resulted in an overall increase in export volume of 0.29% for the period from April to October 2024, with a total of 150,513.71 tons exported.
Among the top performers of Sesame seed exports, Korea (RP) recorded a significant growth of 32.98% in quantity, while Russia also showed strong performance with a 20.79% increase in export volume. However, exports to markets such as Saudi Arabia and the USA saw declines, reflecting challenges in maintaining market share in certain regions. Despite these fluctuations, the sector continues to recover, and efforts are underway to enhance the competitiveness of Indian Sesame Seeds in the global market.
One notable development in the export sector from April to October 2024 is the significant increase in exports to the European Union (EU). During this period, the quantity of Sesame Seeds exported to the EU reached 25,497.06 tons, reflecting a robust growth of 31.57% compared to the same period in the previous year. In addition to the increase in volume, the export value also saw a substantial rise, growing by 24.10%. This surge in both quantity and value highlights a strong demand for Indian Sesame Seeds in the EU market, underscoring the positive trend and the competitive positioning of Indian exports in this region.
In our ongoing efforts to fortify India’s position as a leader in the global Sesame Seed market, IOPEPC has introduced several key initiatives. Effective November 11th, 2024, a mandatory geotagging procedure has been introduced for all laboratory authorities when uploading sampling details to the sesamum.net portal. This new measure requires authorities to include precise geographic location data when documenting the sampling processes for each consignment. The initiative aims to significantly improve the traceability of Sesame Seed exports and enhance the transparency of the export procedure.
Furthermore, in alignment with DGFT Notification No. 38/2024-25, from November 16th, 2024, all Sesame Seed shipments to the USA will require a certification from IOPEPC. This new certification, which will be issued based on quality analysis by NABL-accredited labs, aims to streamline the export process and reduce rejection rates, strengthening the reputation of Indian Sesame Seeds in the international market.
Friends, I would like to take this opportunity to extend my heartfelt thanks to all the contributors for their insightful articles in this publication. Their expertise and perspectives are invaluable in our ongoing efforts to drive growth and innovation in India’s Oilseeds sector.
As we continue to work toward the realization of a Swarnim Bharat, it is clear that the journey towards Atmanirbharta in Oilseeds production requires the combined efforts of all stakeholders. By harnessing the collective potential of our industry, we are well on our way to making India a global leader in Oilseeds production and exports. Together, we will contribute significantly to the broader vision of a Viksit Bharat by 2047.
Let us continue our shared journey towards progress, sustainability, and innovation.
Rutuparna Dole
Chairman
Indian Oilseeds And Produce Export Promotion Council (IOPEPC)