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India’s groundnut exports have increased by 39 per cent during the year 2014-15, with maximum exports to Vietnam, Indonesia, Malaysia, Philippines and Thailand
The Agricultural and Processed Food Products Export Development Authority (APEDA) data showed that groundnut export went up from 509,000 tonnes to 700,000 tonnes in the given time period. Specifically, Vietnam imported 183,771 tonnes against 40,660 tonnes, they added.
“Groundnut crop size was lower in last kharif season but demand for Indian groundnut got better in international market in recent times. Moreover, groundnut price was also competitive since domestic market was not so high,” said Vikram Duvani, managing director of Rachna Seeds from Gujarat’s Junagadh district.
According to the export community, average price of the Indian groundnut in the international market stood between US$1,000 and US$1,100 per tonne whereas, in the domestic market, the price of groundnut ranged from US$13.2 to US$16.35 per 20 kg, between November 2014 and March 2015.
India traditionally exports two kinds of groundnut – Java and bold. Java groundnut is the popular export type but this time, there was a good demand for the bold type as well especially from China, added Duvani.
In addition to demand from Southeast Asian nations, countries from West Asia also reported an increase in demand during April to November, based on statistics by the Indian Oilseeds & Produce Export Promotion Council (IOPEPC).