The devaluation of the Chinese yuan along with crisis in the European Union have pulled down groundnut and sesame seed exports by around 24% (in volume terms) during the April to August period of the current financial year.

Industry players believe that currency fluctuation, tight money supply and overcautious banks in terms of lending have also added to the current downfall in export of both these commodities.

Exports from India was at a level of 65,828 tonne valued at Rs 693.68 crore during April-June, 2015 in comparison to 86,732 tonne valued at Rs 1,189.26 crore during April-June 2014. Exports, this declined by 24%. According to IOPEPC data, sesame seed exports declined both in value and volume terms.

“Prices of sesame seed have remained volatile since the last one year due weak demand and higher production in India and internationally. Moreover, importing countries like China and Korea have good stock position which reduced the demand from global market that also translated into fall in exports from India,” said Gujarat-based exporter.

Export of groundnuts from India during April-August, 2015 have decreased to 180,552 tonnes in comparison to 237,202 tonnes during same period in the previous year, a dip of 24%. However, in value terms, groundnut exports increased marginally to Rs 1,465 crore in comparison to Rs 1,461 crore, mainly due to depreciation of Indian currency.