Jun 28 2010 4:02PM
MUMBAI (Dow Jones)--India's oilseed stocks at the end of this marketing year are likely to be at an all-time high of 6 million-7 million metric tons as farmers have held back stocks because of cheap edible oil imports, a senior industry executive said Monday.
The country's oilseed stocks in the last marketing year that ended Oct. 31 were around 2 million tons, said Ashok Sethia, president of the Solvent Extractors' Association of India.
In India, most of the oilseed crushing is done in the first six months of the marketing year and the country relies mainly on edible oil imports in the second half. But in the current marketing year, higher imports in the first three months have left uncrushed more than half of the estimated domestic oilseed output of 23.11 million tons.
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