Project Report For
The project report for Palm oil is as follows.
The volume of India’s palm oil industry was estimated at USD 5.16 billion in 2015. Increased demand for edible oils due to the growing population and improved economic standards is expected to remain a key driver of development over the coming years.
This type of business in India has a huge growth potential because the government appreciate plantation farmer and I have also promised a large amount of financial assistance to farmers in the near future.
This growth is likely to promote domestic production and create more profitability and prospects for businesses.
This development also generates attractive demand for non-food uses. In addition , increasing demand for these consumer items consequently drives demand for the use of products in the manufacture of fatty acids, fatty alcohols, glycerin and active pharmaceutical ingredients.
Market potential & Strategy
India is currently the biggest importer of palm oil and spends around $10 billion on it. Therefore the demand is so great.
The rapid growth in consumer culture has led to a rise for cosmetic products, cosmetics, household items and processed meals and drinks. This development also generates attractive opportunities for non-food applications.
In addition, increasing demand for these consumer goods subsequently drives demand for the use of derivatives in the manufacture of fatty acids, fatty alcohols, glycerin and active pharmaceutical ingredients.
India, that depends on imports to fulfill around 70% of the overall vegetable oil needs, multiplied the tax on crude palm oil to 30 per cent in November and raised the tax on refined palm oil to 40% from 25%. This will improve local manufacturing, as requirement is on the heavier end.
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