Finance

sector wise industry analysis

There are two major features, which have very significantly contributed to the development of this sector. One was the setting up of the Technology Mission on Oilseeds in 1986. This gave a thrust to Government's efforts for augmenting the production of oilseeds. This is evident by the very impressive increase in the production of oilseeds from about 11.3 million tonnes in 1986-87 to 24.8 million tonnes in 1998-99. There was some setback in 1999-2000 because of the un-seasonal rain followed by inclement weather. The production of oilseeds declined to 20.7 million tonnes in 1999-2000. However, the oilseeds production went up to 27.98 million tones in 2005-06 and was 24.29 million tonnes during 2006-07 oil year. As per the 3rd advance estimate by Ministry of Agriculture dated 22.4.08 the production of nine major oilseeds is estimated to be about 28.21 million tonnes during 2007-08. The other dominant feature which has had significant impact on the present status of edible oilseeds/oil industry has been the programme of liberalisation under which the Government's economic policy allowing greater freedom to the open market and encourages healthy competition and self regulation rather than protection and control. Controls and regulations have been relaxed resulting in a highly competitive market dominated by both domesti Indian edible oil industry to grow at 6% till 2015 - Rabo India report

Announcement / Corporate August 06, 2010, 16:40 IST

The Indian edible oil industry is expected to grow at a rate of 6 percent annually over the next five years, said Rabo India in its latest research report.

India relies heavily on imports to meet over 50 percent of domestic edible oil requirements. Through the years, India's domestic production of oilseeds has not grown in line with edible oil demand. Lower levels of oilseed production have resulted in low capacity utilisation.

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Key highlights

* India is the fifth largest producer of major oilseeds in the world while the domestic edible oil market is estimated at USD 15 billion