Commodity Market: There was an increase in consumption of sunflower oil. Global consumption in 2024 has been 68 million tonnes. 2.4% more sunflower oil has been consumed in 2024 as compared to 2023. Sunflower Oil’s global market stood at $ 116.5 billion in 2024, which is 7.9% less than 2023.
Market experts believe that better growth in sunflower oil is possible. Consumption by 2035 is possible by an average of 1.1%. Prices are possible by 2% annually. Consumption by 2035 is expected to reach 77 million tonnes. Global market is possible up to $ 144.3 billion by 2035.
In 2024, China, America, India, Russia, and Turki were the highest consumption of sunflower oil. The main exporting country of sunflower oil is Turki and Euriken. Turki and Euriken have a 35% stake in total global exports.
Sunvin Group CEO Sandeep Bajoria The sunflower seed produce is expected to increase to 56.5 million tonnes. Sunflower oil supply is likely to increase in the coming days. Out of a total of 35 million tonnes, 18 lakh tonnes are from Russia.
Decline in pulses import
There was a decline in the dal import. The pulses import declined by 23.5% in April. The pulses of $ 314.4 million were imported in April. Whereas this figure was $ 411 million this month last year. The biggest reason for this decline is a sharp decline in the imports of yellow peas and lentils.
Implemented import duty on gram and lentils again. The duty-free on tur and urad will be open till March 2026.
This decline in imports is mainly due to low purchase of yellow peas and lentils. The import of yellow peas was 29,308 tonnes, compared to 64,583 tonnes last year. Meanwhile, imports of tur and urad have increased. Tur imports were 98,162 tonnes in April and Urad imports were 89,212 tonnes. The two have gained rapidly compared to last year.
The total import of pulses throughout the FY25 is estimated to reach 67.05 lakh tonnes, which will increase by 52.2% over the previous year. The Center government has re-implemented import duty on gram and lentils, while the duty-free window on tur and urad will remain open till March 2026.
