India increases the production of vegetable oils and oilseeds
India, the world's largest importer of vegetable oils, in particular, and Ukrainian sunflower oil, building up its own production and trying to reduce imports by imposing duties.
According to experts of Oil World, in the 2018/19 season due to favorable weather conditions, the country will increase production of major oilseed crops.
So, in comparison with the previous season, soybean production will rise from 8.3 to 10.4 million tonnes, which will also contribute to the increase in acreage.
canola Production in the new season will increase from 6.5 to 6.9 million tonnes, due to the high demand for oil from local processors.
Experts Oil World believe that in 2018/19 MG the country will increase imports of the main vegetable oils to 15.39 million tonnes against of 14.57 million tonnes in 2017/18 season.
to increase the volume of import is caused by low ending stocks of vegetable oils in the country and a slight increase of own production compared with consumption growth.
Particularly in comparison with last MG the import of palm oil may rise from 8.63 to 9.28 million tons, sunflower – from 2.51 to 2.55 million tons.
chamber of Commerce and industry of India believe that the increase in population and changing principles of food imports of vegetable oils in the country in the next 5-6 years could double.