Peanut said- “It’s better to be crushed between teeth while chewing, at least I can contribute in providing energy than to just hide inside the shell and wait for the pathogens to attack.” This quote by Sweta tells us the importance of Groundnut or Peanut.
Groundnut or Peanut is an essential oilseed crop in India that not only fills the vegetable oil need in the world but as well as of India. It is widely cultivated in under rain-fed conditions.
Groundnut (Arachis hypogaea L.) occupies the first position in terms of area and the second position in terms of production. China is the largest producer as well as consumer of groundnut in the world with 171.50 lakh tonnes in 2017-18 followed by India (91.79 lakh tonnes), the United States (32.81 lakh tonnes), Nigeria (24.20 lakh tonnes), and Sudan (16.41 lakh tonnes).
Indian groundnuts are available in different varieties: Bold or Runner, Java or Spanish, and Red Natal. The main Groundnut varieties produced in India are Kadiri-2, Kadiri-3, BG-1, BG-2, Kuber, GAUG-1, GAUG-10, PG-1 , T-28, T-64, Chandra, Chitra, Kaushal, Parkash, Amber, etc.
India is the largest exporter to Indonesia US $118.62 million in 2009-10, US $ 234.56 million in 2013-14 and it has registered a CAGR of 5.59 percent. India is the largest exporter to the ASEAN region.
The country has exported 7,26,535.91 MT of groundnuts to the world for the worth of Rs. 5,456.72 crores/ 813.45 USD Millions during the year 2016-17.
Export of groundnut oil is expected to double in 2019-20 owing to higher demand from China due to crop failure in various growing belts. This is positive for 350 oil millers in the Saurashtra region. India witnessed a sudden spurt in the export of peanut oil, with exporters having booked orders worth over 30,000 tons in Apr-Nov 2019. Last year, oil millers exported about 15,000 tons of peanut oil. At present peanut oil fetches $1,375 – $1,400 a ton in the world market. If this demand sustains, oil price could touch $1,600 a ton. Apart from rising oil export, India has challenges to fulfill the demand arising from Vietnam, Indonesia, and Malaysia who are loyal consumers of the Indian peanut. As per the APEDA report, India has exported a total of 189736 MT of groundnut with a value of Rs. 1512 crore from April to October (2019-2020) which is lower by 23.70% against 248679 MT of groundnut with the value of Rs. 1644 crore during April to October (2018-2019). Groundnut demand back to pre-Covid levels as export orders grow
“With the bumper groundnut crop during Kharif 2020, we are cheaper than other origins like the US and Argentina. Inquiries are coming and contracts are being
“With the bumper groundnut crop during Kharif 2020, we are cheaper than other origins like the US and Argentina. Inquiries are coming and contracts are being signed. We see an increase of about 10% over last year and it can further increase but will depend on our exchange rate,”
As said by David Ogilvy, “Good products can be sold by honest advertising. If you don’t think the product is good, you have no business to be advertising it.”
Due to our groundnut quality, good demand for our groundnut in the export market. In addition to regular buyers, several exporters have also turned to India for procuring groundnut.
According to the provisional data compiled by the Agricultural and Processed Food Products Export Development Authority (APEDA), the groundnut export from India surged close to 1.9 lakh tonnes during April-September period this fiscal as against 1.6 lakh tonnes in the same period last financial year.
Peanut production is expected to jump substantially this year with an increase in yield from 1,009 kg per hectare to 1,419 kg per hectare.
Under these circumstances, Agricultural Market Intelligence Centre, PJTSAU expects that groundnut may trade in a range of Rs. 4700 – 5000 per quintal during the month of October 2020.
India has high export potential for Groundnut or Peanut, a value-added product in foreign countries, especially in developed countries, and with the demand for Indian Groundnut rising and the World, Demand for Groundnut is being satisfied by India.
