21 April 1998
Squeeze put on India over edible oils
INDIAN oilfeed refiners want the Government to remove restrictions on the import of oilfeed crops and oil-bearing materials.
The Central Organisation for Oil Industry and Trade (COOIT) said care must be taken that imports did not hurt Indian farmers. It claimed farmers would not object to imports because they were getting more than Government-declared minimum support prices.
COOIT said the countrys total production of oilfeed crops in the 1997-98 season, including the monsoon crop, would be down 300,000 tonnes to 21.33 million tonnes.
The winter production of oilfeed crops in India is forecast to fall to 8.47m tonnes from 9.72m tonnes because of drought followed by unseasonal rain.
- Financial Times 21/04/98 page 39