Sunflower oil ranks among the top four vegetable oils produced and consumed worldwide. Sunflower oil, which is commonly found in salad dressings, is frequently used by customers, most likely due to its mild flavor and a healthy dose of Vitamin E. Sunflower oil accounted for 9% of main vegetable oils produced globally in the 2020-21 marketing year.
Located in Asia, India is the second largest producer of rice in the world. It is also the leading Rice Exporter with a mammoth 40% share in the global rice trade. RICE is the major food-crop which remains in high demand throughout the year. Indian basmati rice is famous for its fine quality and fragrance. Thus, it is procured in large quantities globally.
As per the World Trade Organization’s (WTO) report, Brazil ranks first in the sugar export business followed by India. The Asian nation is the leading producer and consumer of sugar in the world and ranks behind Brazil in terms of sugar export. The year 2022 proved to be a watershed season for the Indian sugar export sector as the Indian sugar mills contracted to export 6.1 million tonnes of sugar.
In May 2022, India, which is also the world’s second-largest consumer of wheat, outlawed exports after a sharp and sudden rise in temperatures cut production, even as export demand increased to make up for the global shortfall brought on by the conflict in Russia and Ukraine.
Around the world, millet is available in about 6,000 different varieties. Unlike wheat, rice, and corn, millets can be grown in arid and semi-arid areas because they don’t need good soil or a lot of water to grow. For more than a billion people worldwide, millets are a source of protein and energy. Millets are primarily imported by major economies of the world like Indonesia, Belgium, Japan, Germany, Mexico, Italy, the United States, the United Kingdom, Brazil, and the Netherlands.
The Indian sugar industry is one of the most important agro-based industries in the world. It not only generates Sugar for domestic and international consumption but is also crucial for the livelihood of the rural sector of India. Around 50 million sugarcane farmers as well as 5 lakh workers are dependent on the sugar industry of India for employment. India is not just the largest producer but it is also the major consumer and exporter of sugar worldwide. Thus, it is essential for the sugar industry to generate high revenue for the benefit of farmers and workers associated with the sugar industry.
To balance domestic supply and demand while stabilizing retail prices, the Sugar Regulatory Administration (SRA) in the Philippines has given the go-ahead to import 440,000 metric tons (MT) of refined sugar no later than April of the current year.
Brazil continues to be the largest producer and exporter of sugar followed by India and Thailand.
On 15th February’ 2023, May NY world sugar number 11 (SBK23) closed lower by -0.28 (-1.40%), and May London white sugar number 5 (SWK23) closed lower by -3.70 (-0.65%). The sugar prices on the 15th posted moderate losses due to an increase in the dollar index to a 1-¼ month high which sparked a long liquidation in sugar futures.
Ranking behind Brazil, Vietnam is the second largest exporter of coffee in the world. It Exports Coffee to more than 80 countries across the world as well as territories. The Asian nation accounts for about 14.2% of the market share in 2022.
The Russian invasion of Ukraine began on the 24th of February 2022 and the war between the two led to disruptions in the supply chain. Both Russia and Ukraine are the major producers and exporters of Wheat in the global market accounting for around 20% and 10% of global wheat exports respectively. They play a crucial role in satisfying the wheat needs of people around the world especially of the people located in north African as well as Middle Eastern countries.
