India: Oilseeds and Products Update

India’s rapeseed and mustard (rapeseed-mustard) production estimate for marketing year (MY) 2022/2023 (October-September) is forecast to drop slightly to 11.4 million metric tons, harvested from a record 9.2 million hectares following a favorable monsoon performance in the state of Rajasthan. Early season frost damage combined with elevated late season temperatures are predicted to impact crop quality. Larger rapeseed-mustard stocks will lead to increased crush in the current MY, and advantageous pricing of domestic oil meals against other origins will continue to drive exports to regional markets. India will continue its surge of importing discounted edible oil imports in the near term as it will eliminate its duty-free tariff rate quotas for sunflowerseed oil and soybean oil on April 1, 2023.