January 26, 2004

India 2003-04 Edible Oil Production Up 40%

India's edible oil production for the current oil year ending Oct. 1, 2004 is expected to total 7.5 million metric tons, or 40% higher than 5.1 million tons in the previous oil year, D.P. Khandelia, president of Solvent Extractors' Association of India, said in a monthly statement.

"The higher production of edible oil in the current marketing year will reduce the import of edible oils by at least 1 million tons during the current oil year compared with last year," said Khandelia.

India's edible oil imports in the previous oil marketing year totaled 5.2 million tons.

The country's edible oil production is expected to be higher because of a bumper summer sown oilseeds harvest harvested in November 2003. The winter sown oilseeds harvest, due to be harvested in March, is also expected to be a bumper one.

Good monsoon rains in June to September is the reason for the bumper summer sown and winter sown oilseeds harvest.

Khandelia added that India is expected to export 50,000 tons of groundnut oil in the current marketing year.

In November of last year, the country resumed exports of groundnut oil after 40 years and has already exported around 30,000 tons groundnut oil in November and December.

Groundnut oil is derived from groundnut, also called peanuts. Groundnut oil is a popular cooking medium in India.