The Hindu Business Line : Groundnut oil exports in Nov, Dec at 29,000 t

GROUNDNUT oil export from India during November and December 2003 totalled a little over 29,000 tonnes and the destinations included China (5,968 tonnes), Europe (13,736 tonnes) and US (9,500 tonnes). At an average price realisation of Rs 46,000 per tonne, export earnings were approximately Rs 135 crore.

According to statistics compiled by the Solvent Extractors Association of India (SEA), in the last two months, a dozen shipments took place, mainly from Kandla port to destinations as diverse as China, Rotterdam, Genoa and New Orleans.

A couple of containerised shipments (totalling 900 tonnes) also took place.

Indicative price of export was $1000-1050 a tonne, SEA said, adding that world groundnut oil prices softened from a high of $1500 a tonne during August/September to around $1170 a tonne which was still a good price as compared with $687 per tonne ex-Rotterdam in 2002.

It is expected that by March 2004, a total of about 45,000 tonnes of groundnut oil valued at about Rs 225 crore would be exported, the association said in a release. This season, India has faced an unusual situation of high international prices coupled with a large domestic crop. Exports are seen supporting oilseed growers.

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