OIL OVER TROUBLED WATERS
Article Abstract:
India which contributes 9.3 percent to the world's oilseed production has the largest area under oilseed cultivation in the world. The country is still dependent on huge imports of edible oils to meet its requirements. It contributes 7.2 percent to the world's protein meal production and accounts for 7.1 percent of the world oilmeal export. During first five months of 1998-99, the estimated oilseeds exports declined to 750,000 tonnes (1,070,000 tonnes during same period in 1996- 97). The Indian vegetable industry consists of over 50,000 oil expellers, 600 solvent extraction units, 190 vanaspati units and about 400 refining units. Exports of oilmeals, olseeds and minor oils aggregated to 4.52 million tonnes valued at Rs4,168 crore in 1997-98 (4.54 million tonnes valued at Rs3,769 crore in 1996-97). (gs) --------------------------------------------------------- India's Oilseeds Production And Yield --------------------------------------------------------- Year Area Production Yield (million hectares) (million tonnes) (kg/hectare) --------------------------------------------------------- 1994-95 25.26 21.42 848 --------------------------------------------------------- 1995-96 25.00 22.71 850 --------------------------------------------------------- 1996-97 26.88 25.10 933 --------------------------------------------------------- 1997-98 26.11 23.60 904 ---------------------------------------------------------
Comment:
India: It contributes 7.2% to the world's protein meal production & accounts for 7.1% of the world oilmeal export
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SPECULATING OILSPORTS
Article Abstract:
The Government of India has set a target of 159 lakh tonnes of oilseeds production for the current kharif reason. The oilseeds production is likely to be 132.9 lakh tonnes only. Farmers are hoarding oilseeds hoping to get a higher price during Diwali festival season. The demand for edible oils usually increases in the festival season. Imports are expected to be 20 lakh tonnes in the current oil year. The price of groundnut oil was a record Rs615 per 10 kg recently, registering an 82 percent increase in the season as a whole. The Government is to allow further trading in oilseeds, edible oils and oil cake extractions. (uh)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
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