MARKET DEVELOPMENT
Demand For Sunflower Oil in India's Rises Nearly Five-Fold
Demand For Sunflower Oil in India's Rises Nearly Five-Fold
11/10/2017 (India Infoline) - Edible oil consumers in India are increasingly turning towards Sunflower Oil, which has witnessed an increase in consumption by about five-fold rise over the past 15 years.
Data compiled by the Solvent Extractors’ Association of India (SEA) noted a steady rise in Sunflower oil imports, from 973,000 tonnes in 2012-13 to 1,516,000 tonnes in 2015-16.
In 2001-02, Groundnut oil consumption stood at 1,216,000 tonnes, and this fell to a meager 239,000 tonnes by 2015-16. As against this, the consumption of Sunflower oil increased by nearly five times from 309,000 tonnes to 1,541,000 tonnes, SEA data showed.
Even as the soft oil in the vegetable oil complex gets attention, India continues to depend on imports. In the total vegoil imports of 14.57 million tonnes (2015-16), Sunflower oil stood third with over 10 percent (1.5 million tonnes) share. Palm Oil and Soyabean Oil continue to be the top two imported vegoils with an import quantity of 8.44 million tonnes and 4.23 million tonnes, respectively.
Data compiled by the Solvent Extractors’ Association of India (SEA) noted a steady rise in Sunflower oil imports, from 973,000 tonnes in 2012-13 to 1,516,000 tonnes in 2015-16.
In 2001-02, Groundnut oil consumption stood at 1,216,000 tonnes, and this fell to a meager 239,000 tonnes by 2015-16. As against this, the consumption of Sunflower oil increased by nearly five times from 309,000 tonnes to 1,541,000 tonnes, SEA data showed.
Even as the soft oil in the vegetable oil complex gets attention, India continues to depend on imports. In the total vegoil imports of 14.57 million tonnes (2015-16), Sunflower oil stood third with over 10 percent (1.5 million tonnes) share. Palm Oil and Soyabean Oil continue to be the top two imported vegoils with an import quantity of 8.44 million tonnes and 4.23 million tonnes, respectively.