Oilseed production likely to decline this year; palm oil to hit new 5-year low

摘要

This year, oilseed production is expected to decline to 13.3-mt from 14.2-mt last year. This is primarily because total area under oilseeds this year is estimated at 16.5-mn hectares, compared with 18.2-mn hectares last year. Also, this monsoon, rains were delayed by two-three weeks, which hit sowing of oilseeds such as groundnut, soybean, sunflower and sesame. This was revealed by Mr. G.G. Patel, Managing Partner, G.G. Patel & Nikhil Research Company, while addressing the 43rd annual general meeting of the Solvent Extractors' Association of India (SEA), in Mumbai recently.