Sunday, April 14, 2024

Agriculture

April 3, 2024 5:21 PM IST

India’s rapeseed output likely to hit record high in 2024 on expanded area

Rapeseed | Solvent Extractors' Association of India | Agriculture

India’s rapeseed and mustard output is likely to rise 7% from last year to a record 12.09 million metric tons in 2024, helped mainly by a larger planting area, a leading industry body said on Wednesday.

Higher rapeseed output will help the world’s biggest vegetable oil importer to cut back on expensive palm oil and sunflower oil imports from Malaysia, Indonesia, Brazil, Argentina, Ukraine, and Russia.

The country meets 70% of its annual requirement through imports.

The rise in production is mainly due to a 5% growth in acreage to 10 million hectares, the Solvent Extractors’ Association of India (SEA) said.

However, the upside in production was capped by untimely rainfall and hailstorms that hit crop in February and March, the SEA said.

(Inputs from Reuters)

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