India will increase oilseed exports by 10-15% in monetary terms – forecast

India may increase the sales of oilseeds to foreign markets by 10-15% in monetary terms in the current fiscal year (until September 30, 2023). The Economic Times reports with reference to the forecast of the former Chairman of the Indian Oilseeds and Produce Export Promotion Council (IOPEPC) Khushwant Jain.

It is noted that the growth of sales is expected on the background of increased demand from the countries of Southeast Asia, Latin America and Africa.

In the past MY the country earned $1.33 bln from the sale of oilseeds (+20% y/y). The main exports are peanuts, sesame, soybeans, and sunseed, and the main buyers are Indonesia, Vietnam, China, Malaysia, the Philippines, and the EU.

According to Jain, most of India’s oilseeds are grown in Madhya Pradesh (34.64%) and Maharashtra (22%).

Tags: soybean, India, Malaysia, sunseed, China, export, Philippines, Indonesia, EU, Vietnam