Export performance of Groundnut and its value added products in the study area
1*M. Vignesh and 2R. Selvakumar
Department of Agricultural Economics, Annamalai University,Annamalainagar-608002 India 1*Corresponding author - Email: vigneshmsvsd@gmail.com
ABSTRACT
The ‘king’ of oil seed crops, groundnut, is an important crop in India’s agriculture and a major exporter of the nation. India showcased its agricultural prowess in the fiscal year 2022–2023 by exporting oilseeds valued at Rs. 673,525.23 lakhs (US$ 831.6 million), with groundnut production being a major contributor to this accomplishment. The production of groundnuts in India is distributed geographically widely, with Gujarat being the leading producer and Rajasthan, Tamil Nadu, Madhya Pradesh, Andhra Pradesh, and Karnataka following in order of production. This study aims to evaluate groundnut export performance and its value-added products. The study employs secondary data, with a particular emphasis on groundnut exports from India to global markets. Using LINGO software, the investigation applies Markov Chain investigation, utilizing the first-order Markov chain technique to investigate changes in trading patterns. Indonesia stands out as one of the most steadyg roundnut consumers, with a retention chance of 0.43, indicating a high likelihood of retaining export share over the course of the study. However, India should stay away from relying too much on these nations in order to reduce long-term trade risks. In order to reduce market risks and ensure a more sustainable trade environment, it is necessary to develop suitable export promotional tactics targeted at diversifying the geographic concentration of groundnut exports.