Oilseed output to surpass last years level

New Delhi, Feb 25 | Updated: Feb 26 2005, 06:25am hrs
Oilseed output in India, the worlds largest edible oil importer, is likely to surpass the previous years record production of 25.1 million tonne, an annual report card of the economy said on Friday. Winter oilseed production in 2004-05 is estimated at 15.4 million tonne compared with 15 million tonne a year ago, the survey said.

The current summer acreage under oilseeds exceeds last years sown area. As a result, the production of oilseeds in 2004-05 is expected to exceed last years record level, it said. The farm ministry had in January estimated 2004-05 oilseeds output at 24.8 million tonne.

The global vegetable oil industry watches Indian oilseed output estimates closely as the countrys production impacts edible oil imports. The Indian oilseed trade body said the Centres forecast was on the higher side.

Our estimate is lower by about 2 million tonne from last years 25.1 million tonne, said Sandeep Bajoria, chairman of Central Organisation of Oil Industry and Trade.

Reuters