MUMBAI, Sept 22 (Reuters) - India's edible oil imports arelikely to surge by 54 percent to 16 million tonnes in 2020/21 asdemand rises at a much higher rate than local supplies, aleading trade expert said in a presentation at a conference onSunday.
Rising prosperity in rural areas due to state-run employmentgeneration schemes and increasing urbanisation would be keydemand drivers, said Govindbhai G. Patel, managing partner of GGPatel & Nikhil Research Co.
"All India per capita consumption is 13.80 kg, but in manystates it is about 10 to 11 Kg. Consumption growth in thesestates will be more ... rising labour income is increasing theincome level of people who are consuming much below theall-India level," he said.
India's edible oil imports in the 2012/13 year ending onOct. 31, 2013, would be 10.4 million tonnes, he estimated.
He said India's edible oil demand was set to jump by 46percent to 25.2 million tonnes in 2020/21, while local suppliesare likely to rise by 37 percent to 9.2 million tonnes. (Reporting by Rajendra Jadhav; Editing by Robert Birsel)
- Singapore International News