Agri Buzz: Lower Prices Of Edible Oil Helping To Boost Demand

4 Nov 2022 , 11:45 AM

The Solvent Extractors Association of India or SEA noted in a latest update that despite very good planting of Soya and Groundnut in summers, the late rains affected the crop output. However, the crop output this year will be higher as compared to last year. Currently, Soya and Groundnut prices in India are higher by 10% over the minimum support price (MSP) declared by the Government. Due to better realization in Rapeseed crop, the crop planting is expected to be higher by 10-15% over the last year. This may result in projected additional production of 1.5-2.0 MnT, equivalent to about 0.8 MnT of Rapeseed oil. The current lower prices of edible oil are helping to boost the demand and consumption of edible oil.Powered by Commodity Insights