The global edible oil market is estimated to grow at a CAGR of 3.57% from 2019 to 2025. Market research experts predict that the per capita consumption will grow by 0.9% per annum during this period, with developing regions of the world contributing significantly to the domain growth.
The world market for edible oil is a growing one. According to experts, it is expected to expand at a CAGR of 3.57% to attain a value of USD119.571 billion by the end of 2025.
The developing regions of the world will be contributing to the increase in this market growth during the forecast period between 2019 – 2025. As a global trader in the F&B Industry, you may want to buy edible oil and secure a share in this domain. For that to happen, you would have to start with procuring edible oil in bulk from the right place, at the right price.
The global spice market is driven by the increasing popularity of Indian cuisines in Europe and North America with a growing Asian immigrant population. The growth prospects look good, however, traders may face a few procurement challenges while buying bulk spices and establishing themselves in the market.
Buying edible oil in bulk requires expertise and access to market intelligence. As a buyer, you need to be aware of the reliable sources from where you can procure premium quality edible oil at the most competitive costs. You need to have insights into how the market is moving and what you can do to stay ahead.
India is one of the leading producers of different types of herbs and spices. Did you know that pepper, cardamom, turmeric, ginger, cumin, fennel, fenugreek, tamarind, and vanilla are some of the major whole bulk spices exported from the country? The top ten destinations of Indian bulk spices in the financial markets are the US, China, Vietnam, Hong Kong, Bangladesh, Thailand, UK, UAE, Malaysia, and Sri Lanka.
Rice is the main staple diet for more than half of the world’s population. India holds the unique distinction of being the largest exporter of basmati and non-Basmati rice. The leading producers of rice in the world are countries like China, India, Thailand, Vietnam and Bangladesh.
Tradologie.com is honored to welcome its new associate Optimal enterprises. Together we intend to expand horizons globally. A well-renowned brand because of its good market reach internationally plans to capture diverse marketers with Tradologie.com
A brief overview: Impact of Covid-19 on global trade
Trade pre-COVID-19 was very mainstream. Importers and Exporters would travel to different nations, deal through trade mediators, or participate in trade-fairs. Conventional trading is a usual practice but due to Coronavirus lockdown, things changed drastically, trading for any commodity immediately stopped, for a while. Shipping too was affected, as even traveling of goods got banned. This temporary halt imbalanced the complete import/export cycle.
Even trade-fairs currently look like an impractical task and no government is willing to allow events, to maintain social distancing.
Also, traveling to restore or increase business is a dilemma for the traders. Until the vaccine isn’t out, everyone is worried about survival let alone trading. However, with partial unlocking of the economy, reinstating trade has become crucial. A Lot of exporters have lost buyers, as they couldn’t supply on time.
These discrepancies are on the ground-level, impacting the complete economy, slowly.
To cater and eliminate this trade process hindrance everyone is trying to look for feasible ways.
Further, we have mentioned an unerring trading technique.
The future of global trade: Tradologie.com
Conferences, schools, fitness, cooking, every sector is trying digital channels to revive or maintain their work. To cater to an area untouched and infuse technology in it, Tradologie.com was invented. It is the amalgamation of global trade and technology.
Tradologie.com’s online platform brings both buyers and sellers online in real-time. One buyer can deal with multiple verified suppliers at one time and attain the best prices. Similarly, a supplier can bid for bagging the order to multiple buyers, everything without stepping out of their comforts.
We ensure verification, inspection, and security, everything through just a simple mobile app. The live dealing feature helps in transparent negotiations yet we keep all the buyer/seller information private until the deal is sealed.
Bulk procurement digitally is a seamless structure and we have designed one. It is a complete inquiry-to-delivery structure for any commodity procurement. We have a well-designed system for the international logistic solution as well, helping suppliers to book shipment via trusted and verified forwarding agents.
Now! You can trade without leaving homes, traveling, and maintaining complete social distancing.
Trade with all precautions and contribute to the world economy, only with Tradologie.com
As per the latest notification, the restriction to ship Bangalore rose onions and Krishna Puram onion was also stated.
Earlier, the preceding categories were free to be exported
The reason this step was taken, was due to a shortage in the Indian market leading to increased rates.
Officials stated “ this shortage is seasonal as India supplied high quantities of onion in the past few months, while the world was under strict Pandemic lockdown”
India exported $198 million of onions in the April-June period of FY21 and $440 million in the entire cycle of 2019-2020.
Indian onions have high demand globally and this isn’t the first time a step like this was initiated.
Last year too, India banned the export of onions, an essential vegetable in Indian kitchens including onion prices were set to a minimum of $850 per tonne to curb its export and to assist in bringing down the soaring prices. This activity was conducted as floods in major states, last year, a spoiled major quantity of the vegetable.
Maharashtra and Karnataka are the highest onion producing states and growth levels in the states will decide the ban lift this year.
While the hold on export might be troublesome for some exporters, the hold is temporary as soon onion will be free to export.
Tradologie.com, a facilitator for onion exports has a certain outlook on this ban, follow through to understand.
Tradologie.com’s outlook on the onion export ban
We at Tradologie have always tried to make export effortless for our associates, this unfortunate ban might impact the trade market, however, we feel that this is a temporary hold to balance the domestic onion trade.
Once the ban is lifted, which we believe is very soon, re-starting onion export won’t be a problem.
Tradologie.com has a buyer guild of 2,00,000 ready-to-purchase buyers and negotiation with them will happen via a simple mobile app, complete eradication of calling, or emailing the buyer.
Creating a seamless channel for onion export.
Until then, let’s centralize the domestic onion market and come back with a bang.