GAIN Report: Oil Seeds and Products India 2008

MY 2008/09 total oilseed production is forecast at 36 million tons, up 6 percent over MY 2007/08, mainly due to an anticipated increase in soybean and peanut production in response to prevailing high prices. MY 2008/09 edible oil imports are forecast at around 5 million tons, marginally below MY 2007/08 estimated imports of 5.1 million tons (4.1 million tons of palm oil and one million ton of soybean oil) due to likely higher domestic production.

Prevailing high international prices are likely to boost oil meal exports, mainly soybean, to an estimated 5.3 million tons. MY 2008/09 meal exports are forecast at a record level of 5.5 million tons, assuming world prices continue to remain strong.