India to Import Edible Oil Import Within a Range of 12.5 to 13.5 Million Tonnes in 2020-21

Published 2020년 11월 26일

Tridge summary

The Solvent Extractors Association of India predicts that India's edible oil imports for 2020-21 will be between 12.5 to 13.5 million tonnes due to high domestic production and decreased demand. The government has restricted refined oil imports, resulting in a significant decrease in imports compared to the previous year. The ban on blending mustard oil with other cooking oils is expected to increase mustard seed production and benefit farmers and consumers. Experts believe that the demand for edible oil will continue to decline due to reduced consumption in hotels, restaurants, and cafes, and that domestic production is likely to increase by 10-15 lakh tonnes.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Expectations of high domestic production of edible oil and sluggish demand decrease imports. India to import edible oil within a range of 12.5 to 13.5 million tonnes in 2020-21. Decrease in Edible Oil Imports Solvent Extractors Association of India pegged India’s edible oil imports for 2020-21 at 12.5-13.5 million tonne. SEA President Atul Chaturvedi attributes a possible rise in domestic production and sluggish hotel consumption amid the pandemic to low imports. Further, he added that because India is a price-sensitive market, high prices will adversely affect consumption. The government kept refined oil imports under a restricted category. Subsequently, it imported 4.21 lakh tonne in 2019-20 as compared to 27.31 lakh tonne in the previous year. Also, noting the 97% share of crude oil in total edible oil import, Mr Chaturvedi mentioned the improving refining capability of the country. India imported around 133 lakh tonnes of edible oil from November 2019 to October 2020. This is ...

Source: Grainmart