India’s castor oil exports decline on low global demand

Published Jun 28, 2022

Tridge summary

Exports of castor oil have seen a decrease of around 10 percent in the first five months of 2022 compared to the same period in 2021, according to the Solvent Extractors’ Association of India (SEA). The decline is largely due to reduced demand from China, which accounts for 40 percent of India's total exports. Despite this, demand from other parts of the world remains stable. India is the world's largest producer of castor and castor oil, with Gujarat being the primary producer. The harvest season for castor oil seeds has been extended due to an extended monsoon in Gujarat.

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

Original content

In the wake of lower international demand, especially from China, exports of castor oil have decreased by almost 10 percent during the first five months of 2022 compared to previous year. As per the data of the Solvent Extractors’ Association of India (SEA), during the first five months of 2021, castor oil exports were around 3,12, 000 Metric Tons (MT) which has declined to almost 2,82,000 MT in the current calendar year. “China is witnessing industrial disruption post the outbreak of Covid-19 pandemic. As a result, Chinese buying has gone down by almost 30,000 MT. Demands from other parts of the world almost remain the same,” said Atul Chaturvedi, president of SEA. Castor oil and its derivatives are used in many industries including air-conditioning, air-fuel, pharmaceutical, dyes & chemical, soap, paints, inks, plastic, perfumes, adhesive, paper, lubricants, food, rubber and others. With 40 percent share in India’s total exports, China is the biggest buyer of castor oil from ...

Source: Indoasiancommodities