Pandemic tears through India’s agriculture commodity demand; exports show resilience

India’s agriculture industry is in a wait-and-watch mode amid the worsening pandemic situation, as localized lockdowns have stagnated market demand, while any subsequent stricter restrictions in the coming days are expected to slow down trading activity and disrupt supply operations. Even though agriculture and allied activities are exempted from government restrictions so far, several markets across India remain closed as cases continue to skyrocket. As a result, India’s domestic demand for palm oil, grains, as well as sugar is absent from the markets, sources told S&P Global Platts. India is the world’s largest buyer of palm oil, and a major consumer of grains and sugar. Meanwhile, agricultural exports for commodities like sugar are steady, which are supporting prices as of now, market participants said. Palm oil demand may take a hit India’s appetite for palm oil may get impacted as nearly 60% of country’s consumption comes from the HORECA (Hotels, Restaurants, Catering) ...