01 December 1998
India’s groundnuts hit by poor weather and pests
INDIA has been forced to increase imports of edible oils because of flat domestic production and a forecast of rising demand.
Imports are now expected to top 2.4 million tonnes during the current season (November-October).
Customs duties have been reduced by 10% to 15% to ensure that the domestic shortfall in supply is met by imports.
Groundnut production has been hit by a combination of unfavourable weather and the occurrence of pests.
Poor weather and insect attack have not dented soyabean production, however – it is up 310,000 tonnes at 5.81m tonnes.
India has harvested a bumper cotton crop.
Financial Times 01/12/98 page 38