 "Edible oil firms want higher domestic oilseed production")
Oilseed production in India is too small to keep pace with the rising domestic demand for refined oils, according to edible oil companies. The firms have asked the government to take appropriate steps to increase domestic production of oilseeds.
“We want the government to take measures for boosting oilseed production through high yield varieties and making such crops lucrative for farmers,” Dalda business head Dinesh Agarwal told Business Standard here. Dalda is the largest selling refined oil brand in India having a market share of over 25 per cent.
India is a top importer of edible oils in the world. Edible oil import bill has multiplied over the years owing to a sharp increase in consumption and muted domestic oilseed production, resulting in flight of precious foreign exchange from the country.
The composite refined oil market in India is pegged at 18 million tonnes annually and growing by five to six per cent. It includes 1.6 million tonnes of refined oil market in consumer pack.
“Almost 40 per cent of the domestic market is dominated by unorganised players, but the organised space is slowly getting bigger,” said Agarwal.
The per capita refined oil consumption is low in India at 14 kg compared to 23 kg in developed countries. The figure is 47 kg in the US.
Dalda was acquired by Bunge India Private Limited in 2003 from Unilever. Bunge India is a wholly-owned subsidiary of Bunge Limited, a global agribusiness and food major operating in 40 countries.
Meanwhile, Dalda unveiled its new range of vitamin-enriched cooking oil range in the Uttar Pradesh (UP) market. The company sources almost 12 per cent of its mustard oilseed requirements from UP.
“We want the government to take measures for boosting oilseed production through high yield varieties and making such crops lucrative for farmers,” Dalda business head Dinesh Agarwal told Business Standard here. Dalda is the largest selling refined oil brand in India having a market share of over 25 per cent.
India is a top importer of edible oils in the world. Edible oil import bill has multiplied over the years owing to a sharp increase in consumption and muted domestic oilseed production, resulting in flight of precious foreign exchange from the country.
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“There is an urgent need for ramping up domestic oilseed production by educating farmers and convincing them to adopt modern farming tools for higher yield,” Agarwal noted.
The composite refined oil market in India is pegged at 18 million tonnes annually and growing by five to six per cent. It includes 1.6 million tonnes of refined oil market in consumer pack.
“Almost 40 per cent of the domestic market is dominated by unorganised players, but the organised space is slowly getting bigger,” said Agarwal.
The per capita refined oil consumption is low in India at 14 kg compared to 23 kg in developed countries. The figure is 47 kg in the US.
Dalda was acquired by Bunge India Private Limited in 2003 from Unilever. Bunge India is a wholly-owned subsidiary of Bunge Limited, a global agribusiness and food major operating in 40 countries.
Meanwhile, Dalda unveiled its new range of vitamin-enriched cooking oil range in the Uttar Pradesh (UP) market. The company sources almost 12 per cent of its mustard oilseed requirements from UP.