March 20, 2012
Indian oilseed output up 2.2% in 2011/12
With the main winter-sown rapeseed crop hit by adverse weather conditions and suggesting edible oil imports might rise, India's oilseed output increased 2.2% to 26.01 million tonnes in the current crop year, a leading trade body said on Sunday (Mar 18).
Output of rapeseed dropped by 12.6% to 6.03 million tonnes in the year to June 2012, said the Central Organisation for Oil Industry and Trade, which usually gives its estimate for the full year in mid-March after the crop has been harvested.
The forecasts for both oilseed and rapeseed output are below farm ministry expectations but ahead of traders' forecasts for a 25% fall in rapeseed output made in February.
Traders then also suggested lower output could mean a rise of about half a million tonnes in imported oils for the year ending October 31. The farm ministry last month pegged India's total oilseeds output at 30.5 million tonnes in 2011/12, down 6%. Rapeseed output was pegged at 7.5 million tonnes.
Rapeseed, the main winter-sown oilseed crop, was hit by higher temperatures at the planting and in the final stages as well, traders said.
India, the world's top vegetable oil importer, grows nine oilseeds, with soy being the main summer-sown crop.
Rapeseed oil meets 15-17% of about 16.5 million tonnes of annual edible oil demand. About half of India's total edible oil demand is met through imports. Some 80% of this is palm oil, mostly from Indonesia and Malaysia, with a small amount of soyoil from Brazil and Argentina.
Total edible oil imports were three million tonnes in the first four months of the season to February 29, 2012.