From Chairman's Desk

February 2021

Dear Friends,

 

India’s merchandise exports in February 2021 were USD 27.67 billion as compared to USD 27.74 billion in February 2020, a decrease of 0.25%.

 

Exports during April-February 2020-21 were USD 255.92 billion, as compared to USD 291.87 billion during the same period of last year, exhibiting a negative growth of 12.32%.

 

Exports of Groundnut increased to 470,732.99 MT during April-December 2020-21 from 455,462.39 MT during April-December 2019-20. In value terms Groundnut exports increased to Rs. 3914.88 crores from Rs. 3466.34 crores.

 

Sesame Seed exports during April-December 2020-21 decreased to 203,632.26 MT in comparison to 209,605.30 MT during April-December 2019-20. In value terms, Sesame Seed exports declined to 2358.03 crores from 2772.10 crores.


Imports of Sesame Seed during April-December 2020-21 have been about 89,981 MT in comparison to 88,560 MT during April-December 2019-20.


Niger seed export during April-December 2020-21 was 16,379.35 MT in comparison to 8,709.65 MT during April-December 2019-20. In value terms, Niger seed export was worth 127.77 crores in comparison to 65.20 crores.


The export of Sunflower seed during April-December 2020-21 was 1,104.52 MT with a value of Rs. 7.12 crores in comparison to 996.98 MT during April-December 2019-20 year with a value of Rs. 5.08 crores. 


The export of Safflower seed during April-December 2020-21 was 1,758.75 MT with a value of 8.25 crores in comparison to 2,061.57 MT during April-December 2019-20 with a value of Rs. 11.33 crores. 


The export of Linseed seed during April-December 2020-21 was 9,994.33 MT with a value of Rs.71.53 crores in comparison to 9,522.50 MT during April-December 2019-20 with a value of Rs. 63.10 crores. 


The export of Groundnut oil during April-December 2020-21 was 152,595.68 MT with a value of Rs.2088.15 crores in comparison to 23,364.14 MT during April-December 2019-20 with a value of Rs. 235.63 crores. 

 

The export of Sesame oil during April-December 2020-21 was 7,992.77 MT with a value of Rs.198.95 crores in comparison to 7,006.28 MT during April-December 2019-20 with a value of Rs. 154.02 crores. 


The export of Mustard and Rapeseed oil during April-December 2020-21 was 5588.49 MT with a value of Rs. 78.58 crores in comparison to 3102.19 MT during April-December 2019-20 with a value of Rs. 38.71 crores. 


The export of sunflower and safflower oil during April-December 2020-21 was 5,437.96 MT with a value of Rs.58.70 crores in comparison to 4,591.86 MT during April-December 2019-20 with a value of Rs. 44.38 crores. 


The export of Linseed oil during April-December 2020-21 was 363.79 MT with a value of Rs.11.52 crores in comparison to 218.93 MT during April-December 2019-20 with a value of Rs. 4.58 crores.


The export of Castor oil during April-December 2020-21 was 516,957.63 MT with a value of Rs. 4648.82 crores in comparison to 408,156.76 MT during April-December 2019-20 with a value of Rs.4527.94 crores. 

Prices of various oilseeds (US$) are hovering around the levels as follows: 

Sesame Seeds

Basis FOB

Price per MT

(February 2021)

Natural Whitish 99/1/1

Mundra / JNPT

1325-1350 

Natural Whitish 98/2/2  

Mundra / JNPT 

1300-1325 

Hulled Auto Dried Sortexed Regular 99.95%

Mundra / JNPT

 1625-1650

Hulled Auto Dried Sortexed Premium 99.97%

Mundra / JNPT

1650-1675 

Black 99/1  Sortexed

Mundra

1950-1975 

Black Jet Sortexed

Mundra

2250-2300 

Ethiopian Whitish Humera

Djibouti

1450-1475 

Sudanese Whitish Gederaf

Port Sudan

1425-1450 

Sudanese Reddish

Port Sudan

 1160-1175

Nigerian mixed 

Lagos

1250-1275 

 

Groundnut

Basis FOB

Price per MT

(February 2021)

India

50/60 Java

Mundra

1400

60/70 Java

Mundra 

1370

80/90  Java

Mundra 

1300

40/ 50 Bold

Mundra 

1400

50/60 Bold

Mundra

1310

60/70 Bold

Mundra

1280

50/60 Java

Chennai

1550

60/70 Java

Chennai

1500

80/90 Java

Chennai

1420

 

Other Oilseeds/oils

Basis FOB

Price per MT

(February 2021)

Safflower Seeds

JNPT

650 - 670

Niger Seeds

JNPT

1180 - 1200

Linseed/Flax Seeds

JNPT

850 - 870

Black Sunflower Seed 99%

JNPT

1000 - 1020

Mustard Seeds Bold 1%

Mundra

850 - 870

Mustard Seeds Small 1%

Mundra

850 - 870

Castor Seeds

Mundra

735 - 760

Castor Oil FSG

Kandla, in bulk Vessel

1330-1375

Sesame Oil

Kolkata

2100-2300

Groundnut oil

Mundra

1500-1600

Source: Trade Estimates

 

European Union (EU) is one of the key markets not only for sesame seed but other agricultural commodities including groundnuts, spices, rice, etc. In order to deepen India’s market access for agricultural goods, the Council, along with support of Indian Embassy in Brussels, is organizing a Virtual Buyer-Seller Meet (B2B) on 23rd March, 2021. The event will have Virtual Conference Room and Exhibition booths for Indian exporters to showcase their products. We are expecting very good response from EU buyers since our Embassy has sent out invitations to a large number of potential buyers. I urge all our members to avail this excellent opportunity for enhancing your exports to EU, by way of your participation and also by booking your Exhibition booths.


This year, with the on-going outbreaks of Covid-19 around the world, American Peanut Council (APC) has decided to hold a virtual event during 28-30 April 2021 and to push back the next in-person meeting to 2022 to allow as many delegates from around the world to attend.  I along with Shri Kishore Tanna, Convener Groundnut panel have been invited to be speaker on the “Peanut Supply & Demand Panel – Asia”. I would urge our members to take advantages of the opportunity by participating in IPF 2021. 


The Global market size of Castor Oil Derivatives is expected to grow exponentially in the years to come. It is anticipated that Asia Pacific will dominate the castor oil derivatives market in the time period 2018-26. Under this region, India is projected for the major production hub of castor oil derivatives globally. The ICAR had organized Online Industry- Academia Interface to formulate “A roadmap to increase domestic production of castor oil derivatives” on February 23, 2021. I was invited to speak on the “Market intelligence, market-scoping and mapping: Global potential of castor oil derivatives: Issues and challenges”. During the meeting I highlighted that the Castor oil derivatives is a premium market, requiring huge investments in establishing production facilities. This must be supported by speedy refund of GST. It was suggested that there should be fixation of higher rate of RoDTEP for castor oil derivatives since these are value added products involving complex operations.

Recently notified amendments in Foreign Trade Policy, 2015-2020 has enabled exporter to apply for issuance of an e-IEC, the electronic version of an IEC, and updating it on the DGFT portal. This would result in Ease of Doing Business for new exporters as well as for others in case of any changes required in IEC.


Introduction of common digital platform by DGFT is a great initiative for facilitating exports by providing a single point access for certificates of origin for all FTAs/PTAs for all agencies and all products. This paperless CoO issuance process is digitally secure and results in reduction of transaction time for exporters.


Friends, The Indian agriculture acts of 2020 providing three Farm Bills is one of the bravest steps taken by the Government for development of the agriculture sector. It has been a long pending demand to exclude agriculture exports from the ambit of APMCs. With the end of Monopoly of APMC, we hope that the agriculture products will have better price discovery mechanism. In addition, the new policy will brighten the prospects of contract farming and Farmer Producer Organizations (FPOs).

With Best Wishes and Regards,

 

Khushwant Jain

(Chairman)

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