Company News

RPT-India's rapeseed output to rise 16 pct to 5.8 mln T -trade body

(Repeats March 20th item with no changes to text)

MUMBAI, March 20 (Reuters) - India is likely to produce 5.8 million tonnes of rapeseed in 2015/16, up 16 percent from a year ago, thanks to beneficial weather conditions in key producing northern states, the head of the Central Organisation for Oil Industry and Trade (COOIT) told Reuters on Sunday.

Rapeseed is the main winter-sown oilseed in India and higher production will help the country to limit edible oils imports.

The expected increase in output is thanks to favourable weather in northern states such as Rajasthan, Uttar Pradesh and Haryana, COOIT President Laxmichand Aggarwal said.

In 2014/15 drought and hail storms trimmed India’s rapeseed output by 23 percent from the previous year to 5 million tonnes.

India, the world’s biggest buyer of edible oils, imports mainly palm oil from Indonesia and Malaysia and soyoil from Argentina and Brazil.

The country’s edible oil imports could rise by as much as 11 percent to a record 16 million tonnes in the 2015/16 marketing year that started on Nov. 1, according to estimates from a Mumbai trade body. (Reporting by Rajendra Jadhav; Editing by David Goodman)