New Delhi (PTI): India is estimated to produce 7.04 million tonnes of vegetable oils in 2008-09, sufficient to meet only 46 per cent of the country's demand.
As against the requirement of nearly 13 million tonnes, India would be able to produce 7.04 million tonnes of vegetable oils in 2008-09. The rest of the demand will be fulfilled through imports, according to the US Department of Agriculture (USDA).
The analysis of the data maintained by USDA showed that India's vegetable oils production remained almost stagnant in the last three years, averaging between 6.99 and 7.16 million tonnes.
While dependence on imports has grown marginally in the last three years from 5.53 million tonnes in 2006-07 to 5.87 million tonnes in 2008-09, making India the third largest importer in the world, the data said.
According to USDA, India would crush 27.54 million tonnes of oilseeds to produce vegetable oils. While oilseeds production is forecast to be at 33.85 million tonnes in 2008-09, slightly less from previous year.
Meanwhile, the global supply is expected to be almost in sync with demand, with production being estimated at 133.49 million tonnes against the world demand of 130.66 million tonnes.
Globally, palm oil demand has remained highest as compared to other oils. In 2008-09, palm oil demand is estimated to grow to 42.22 million tonnes from 40 million tonnes, while the demand for soybean oil is expected fall slightly to 37.18 million tonnes, USDA said.
The world demand for rapeseed oil would be 19.61 million tonnes, coconut 3.63 million tonnes, olive oil 4.77 million tonnes, peanut 5.01 million tonnes and sunflowerseed 10.71 million tonnes, it said.
Source : The Hindu