GAEL Secures Orders To Ship Groundnut Oil

Ahmedabad: Gujarat Ambuja Exports Ltd (GAEL) has got orders to export groundnut oil to the European countries to the tune of more than Rs. 200 crore. During 2003-04, India exported 1.10 lakh tonnes of groundnut oil, out of which GAEL''s share was more than 35,000 tonnes. It is hoped that the year 2007-08 would see a repeat performance of 2003-04. As compared to other edible oils where the price increase has been almost 50-90 per cent, the rise in groundnut oil was still 20 per cent in the last eight months. GAEL has total edible oil refining capacity of 3.60 lakh tonnes per annum. The global edible oil scenario is in a optimistic phase with prices of all edible oils, including soyabean and palm oil, witnessing a rise of almost 50-90 per cent in the last eight months. India is one of the major groundnut oil producing country and the year 2007-08 has witnessed the world price of groundnut oil rise to make export of groundnut oil from India viable.