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India could start MY 2023/24 with record vegetable oil reserves

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India could start MY 2023/24 with record vegetable oil reserves

India expects record food oil reserves, which will reduce imports.

1 October 2023

According to forecasts by brokerage GGN Research, India will start the 2023/24 MY with record stocks of edible oils, which could lead to a reduction in their imports in the new season, reports zawya.

In particular, India's edible oil stocks are expected to be 3.37 million tonnes as of November 1, up from 2.46 million tonnes at the start of MY 2022/23.

In this regard, imports of the product into India in the new season may decrease to 15.8 million tons compared to a record 16.6 million tons in 2022/23 MY.

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India could start MY 2023/24 with record vegetable oil reserves

India expects record food oil reserves, which will reduce imports.

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