Palm oil has influenced Indian imports since the last two decades, for its logistical advantages, contractual flexibility, and consumer acceptance. Its market in India was valued at USD 5.19 billion in 2015.
Nature’s gift to the world. Consumed for more than 5,000 years, its nutritional value, health benefits, and value as a natural resource continue to be discovered even today. Palm oil is produced from the fruit of the oil palm tree and is used as vegetable oil.
Its production could double in 5 years to 600,000 tonnes as yields rise and farmers expand acreage after New Delhi raised import tax on the tropical oilseed.
On a global level, the oil market reached a production volume of more than 77 Million Tons in 2018, registering a CAGR of 6.8% during 2011-2018.
The market volume is further projected to reach 107.5 Million Tons by 2024, expanding at a CAGR of 5.7% during 2019-2024. Crude palm oil prices increased in April 2019, due to an uptrend in global demand, which was confirmed by exports of palm oil from Malaysia and Indonesia of 24.5 MMT in 2018.
The market volume is getting higher and higher day by day, so the potential.
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