Despite the weak global outlook, edible oilseeds and oils prices are likely to appreciate 20 per cent in 2009 on rising palm oil demand from the food sector constituting 15 per cent of global consumption.
Demand from developing countries, including India and China is estimated to increase at a slower rate this year due to global economic recession. The Indian and Chinese economies are set to rise over 7 per cent in 2009 when developed countries are facing negative growth. Vegetable oil being closely linked with the economy, the growth of the sector is likely to be less affected when compared to other sectors.
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