Vegetable oil production set to hit 4-year high leading to fall in prices

India, which imports palm oil mainly from Malaysia and Indonesia, could buy 500, 000 tonnes of additional palm oil in these three months and average monthly imports could be around 850, 000 tonnes, Sandeep Bajoria, chief executive of Sunvin Group, a vegetable oil broker, said. (File pic shows harvesting at a Felda plantation.)

KUALA LUMPUR: The world production of four vegetable oils, namely palm oil, sunflower oil, soybean oil and rapeseed oil, is expected to increase by about seven million tonnes for the 2021/2022 period, the biggest growth in four years, according to Oil World.

Its head, Thomas Mielke, said this follows two years of global production deficit and a sharp decline of vegetable oil stocks.