Demand for corn refined oil picks up, production doubles in 4 years

Demand for corn refined oil picks up, production doubles in 4 years

Maize refined oil appears to be finding its place among mustard, soybean, cottonseed and groundnut oils. In the past 4-5 years, India’s maize oil production has almost doubled. Maize oil is consumed more in states of Gujarat and Maharashtra compared with other parts of the country. Northern states are also opening their doors to the commodity.

Traders say the consumption of soy oil has come down compared to last year, whereas the prices of sunflower oil have increased, which along with a decline in the supply of oilseed oil this year has led to higher demand for corn refined oil.

Arpit Gupta, a maize refined oil trader, says the commodity is currently trading around Rs 140 per kg against Rs 148 and Rs 160 in the case of cottonseed and groundnut oil, respectively. He said major manufacturers of products such as snacks and sweets, which used soy oil earlier, are now using maize refined oil more.

Cottonseed & mustard

Like cottonseed and mustard, maize skin, which is extracted directly from the expeller, is in good demand. While cottonseed skin contains 7 per cent oil, maize skin has about 12-14 per cent oil. The demand for maize skin, which is considered useful for animals, has also increased. The country’s production of maize refined oil has increased to 8,000-10,000 tonnes per month from 5,000 tonnes a month four years ago.

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