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Palm Oil (CPO) News - Despite low export demand prices remained firm on the back of firm domestic demand.
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Despite low export demand prices remained firm on the back of firm domestic demand.

In Oct’21-April’22, India’s Groundnut export went down by 24% to 3.72 Lakh tonnes as compared to 4.89 Lakh tonnes same period last year. Low demand from China attributed to the lower exports, while there is good demand from South East Asian countries like Indonesia, Malaysia and Philippines. In Oct’21-May’22 we expect India’s groundnut export at 3.9-4 Lakh tonnes.

In Oct-April’22, India’s Groundnut oil export went down by 95% to 9,701 tonnes as compared to 2.11 Lakh tonnes previous year same period. In Groundnut oil too, the lower exports can be attributed to low demand from China. Last year China imported groundnut oil heavily from India on account of local crop damage. In Oct-June’22 we expect India’s Groundnut oil export at 10000-12000 tonnes.

Despite low export demand prices remained firm on the back of  firm domestic demand.