Cottonseed oil yeild pegged at 9 lakh tonnes

Mumbai, Apr 29: The Cotton Association has pegged the yeild of cottonseed oil this year at nine lakh tonnes.

The Association, in a report, said that an estimated 270 lakh bales of cotton is likely to be produced this year which will yeild around 90 lakh tonnes of cotton seed.

Around 15 lakh tonnes of cotton seed is estimated to be utilised for sowing and other uses like cattle-feed. This would leave 75 lakh tones of the seed for crushing for oil, the Cotton Association's bulletin says, adding that this could yeild nine lakh tonnes of oil.

Cottonseed oil, the Association said, has emerged as the second-most preferred oil in Gujarat and Maharashtra owing to its affordability.

Gujarat alone consumes four lakh tonnes of cottonseed oil, followed by Maharashtra, Andhra Pradesh and Punjab, as per the bulletin.

Cottonseed oil has seen an upswing in the last couple of years following a phenomenal rise in cotton production. Refined cottonseed oil is ruling at Rs 435 in the wholesale market as against groundnut oil which costs around Rs 630 for 10 kg.

The increased usage of cottonseed oil has been one of the factors which has contributed towards reducing the edible oil imports, the bulletin said while pointing out that edible oil imports had declined to a nine-year low in February this year. Edible oils, incidentally, forms a major chunk of the country's import basket.

UNI