India must import edible food on record even if the lack of water affects production, according to expert Luiz Fernando Pacheco, analyst at T&F Agroeconomic Consulting. According to him, this movement could cause the price of grain to rise a few cents in CBOT, because it is a demand “in China”.
“It is expected that imports of edible oil from India will increase by 7.3% in 2019/20 to a record level, as the monsoon rains have reduced the productivity of summer crops such as soya and manioc, I say an important industry employee. “The largest purchases by the world's largest importer of edible oil could support the prices of palm oil, which is under pressure due to weak demand amid the expected growth in production”, I say.
Furthermore, the expert also says that the deficit in the production of oilseed seeds will force India to import up to 16.1 million tons of edible oils in the new commercial year starting November 1, an increase of approximately 15 million tons this year. year. says Patel, who has been selling edible sugar for more than four decades. “Rainfalls have been scarce in oilseed areas. This will reduce mangrove, soybean and cotton production,” says Govindbhai Patel, managing director of research firm GG Patel & Nikhil Research Company.
“The deficit in the production of oilseed seeds will force India to import up to 16.1 million tons of edible oils in the new commercial year starting November 1, compared to the 15 million tons estimated this year”, says Patel , who sells oil. Edible for more than four decades. India imports more than two thirds of its edible acceptance needs, compared to a third of decades ago, while local production has not managed to match the growing demand in Asia's third largest economy. Palm oil represents around a third of total imports,” concludes Pacheco.
Here: Marina Carvejani
Author: Leonardo Gottems
Source: agrolink
