Sunflower prices expected to fetch less than MSP

Sunflower prices expected to fetch less than MSP
Highlights

Nearly 70 per cent of domestic oil requirement is met through imports. According to Solvent Extractors Association of India the major imported oils are palm oil, soya oil and sunflower oil. Annually India is importing 15 million metric tonnes of oil. Palm oil and sunflower oil are imported in raw form.

Nearly 70 per cent of domestic oil requirement is met through imports. According to Solvent Extractors Association of India the major imported oils are palm oil, soya oil and sunflower oil. Annually India is importing 15 million metric tonnes of oil. Palm oil and sunflower oil are imported in raw form.

Russia, turkey and Argentina are also exporting sunflower oil. But India imports 95% of its sunflower oil requirement from Ukraine. In 2015-16 India imported 1.5 million tonnes of sunflower oil from Ukraine.

Assuming normal area in kharif 2017-18, the prices that are likely to prevail at harvest are forecasted using modal prices of sunflower in Kurnool market. It was also supported by market survey. This effort has resulted in arriving at the prices at harvest which are likely to move around Rs.3000 per quintal.

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