India's edible oil exports rose 54% to 80,765 tonnes in the financial year 2019-2020, on a sharp increase in shipment of groundnut oil especially to China, said SEA (Solvent Extractors Association of India) , a trade body.
The country exports edible oils in small quantities to meet the expatriate demand. Otherwise, edible oil is India's third biggest import item after crude oil and gold.
According to SEA, the country exported 80,765 tonnes of various edible oil valued at Rs.955.51 crores during 2019-20 against 52,490 tonnes valued at Rs.627.11 crores during previous year 2018-19.
Of the total exports, groundnut oil shipment has more than doubled from 15,532 tonnes last year to 38,225 tonnes this year. Soyabean oil exports rose to 9822 tonnes from 4245 tonnes, while coconut oil exports to 7870 tonnes from 6814 tonnes and sesame oil to 5618 tonnes from 4984 tonnes in this financial year. But the shipment of mustard oil, cotton seed oil and maize oil declined marginally.
Exports of edible oils are freely exportable in bulk, while mustard oil is allowed in consumer packs not exceeding 5 kg as per SEA.