With waning impact of covid-19, people had high hopes from the year 2022. Almost all expected the year to support recovery after the covid-19 pandemic wreaked havoc and disrupted lives in the last couple of years. However, the year drifted far away from people’s pre-conceived notions.
With waning effect of Covid-19, people had high hopes from the year 2022. However, the year turned out to be a bummer for the people around the world in general and for the people related to agro-trade industry in particular.
Ranking behind India, Vietnam is the second largest Rice Exporter in the world. On 19th of November 22, a forum held by the Ministry of Agriculture and Rural Development (MARD) of Vietnam stated that the country is working towards achieving a target of 7 million tonnes of rice exports in the current year. Global economic uncertainties such as the post-covid effects, climatic uncertainties, and the turmoil between Russia and Ukraine have pushed up the global demand for rice.
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.