Parul
As per a leading trade body, India’s groundnut output from the summer-sown crop is likely to fall by 29.2 percent from a year ago to 3.74 million tons in view of the scanty rainfall in the top producing state of Gujarat.
The drop in the output is likely to force the world’s biggest edible oil importer to raise overseas purchases in the 2018-19 marketing year. The Solvent Extractors’ Association of India (SEA) said that the groundnut output has halved from a year ago to 1.6 million tons in the state of Gujarat.
As per the India Metrological Department, Gujarat received 28 percent lower rainfall than normal this in Monsoon season.
As per a leading industry analyst, India buys palm oil from Indonesia and Malaysia. Meanwhile, Soy oil is mainly imported from Argentina and Brazil, and sunflower oil from Ukraine. According to the analyst, the country’s palm oil imports in 2018/19 is expected to jump to 8.7 percent from a year earlier as the consumption in the world’s biggest edible oil consumer will expand amid a drop in local supplies
