A leading economist after the release of the latest export data said, “The future of the South African agriculture sector is bright, with the potential for more exports, job creation and economic growth.”
India is one of the largest producers of many oilseeds in the world. Many different oil seeds are grown in the country that covers approximately 12% of the total cropped area and the main oil seeds produced in India are groundnut, coconut, sunflower, soybean, mustard, sesamum (til), castor seeds, cotton seeds, and linseed. Despite being one of the largest oilseed crop-producing countries in the world, India is also one of the largest importers of vegetable oils today. There is a spurt in vegetable oil consumption in recent years in respect of both edible as well as industrial usage.
There were top five countries in the Middle East that contributed to around 20 percent of the exports of principal agricultural commodities from India between April and December 2020. UAE led the list along with Saudi Arabia, Iran, Iraq, and Egypt.
Rapid advancement in technology brought a fresh change to agricultural and commodity trading. A few decades back, agricultural products and commodities trading used to take place at local markets and mandis. Middlemen, intermediaries, and brokers had a large say in the price control mechanism.
India’s export of Agri commodities elevated by 43.4 percent to 53,626.6 crore Indian Rupees (7 billion U.S. dollars) in the months April to September this year, from 37,397.3 crore Indian Rupees (5 billion U.S. dollars) a year earlier, said the Agriculture Ministry on Saturday.
