Edible oil demand to cross 21 m tonnes by 2015

Mumbai, Nov 18 | Updated: Nov 19 2005, 07:03am hrs
The demand for edible oils in the country is expected to increase from current levels of 10.9 million (mn) tonnes to 12.3 mn tonnes by 2006-07 and to 21.3 mn tonnes by 2015. BV Mehta, executive director the Solvent ExtractorsAssociation (SEA) of India stated in his paper titled IndiaMover & Shaker of Global Vegetable Oil Market.

This assumes a per capita consumption increase of 4% and a population growth of 1.9% which translates to an overall growth in demand @ 6% pa. Presenting his paper at the National Seminar on Palm Oil at Bali, Malyasia, he stated that based on the above assumptions, India will continue dependence on imports to the extent of 40% of its consumption requirements. The improvement in yields and the increase in area under cultivation will ensure that the domestic oilseed production is sufficient to meet 60% of consumption requirements. Under normal circumstances, Indias edible oil consumption demand is expected to grow between 5% and 6% per annum over the next 5-10 years.