India's vegetable oil import forecast in 2022/23 reaches 15 million tons

Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage and consulting firm, said India's population is growing, coupled with a per capita consumption of 17kg and strong economic growth. , the country expects cooking oil imports to increase. India is the world's largest importer of vegetable oils. The country imports sunflower oil from the Black Sea region, which accounts for 60% of sunflower oil production and 76% of world exports. India estimates palm oil imports to rise to 8.75 million tonnes for the year, from 8.26 million tonnes a year ago. Bajoria forecasts soybean oil imports in 2022/23 at 3.75 million tons, down from 4 million tons last year. For sunflower oil, India's imports are estimated at 2.5 million tonnes, up from 1.88 million tonnes a year ago. The country is likely to import 1.5 million tonnes of duty-free sunflower oil in the current financial year to March 31, 2023 in the Black Sea region, more than half a million tonnes below the allotted quota. ...