Vegetable oil trade to grow in 2015, says analyst

Seaborne trade of vegetable oils (including palm) is expected to grow in 2015 to reach 82.3 million tonnes, according to Italian shipbroker Banchero Costa.

Trade volumes are expected to grow in the next few years, fuelled by emerging economies, especially China and India. Consumption growth is expected to strengthen with population growth, higher living standards, and growing acceptance of Western dietary tastes.

Banchero Costa opined, "With a projected combined population of 2.8 billion by 2020, potential demand growth for vegetable oils is huge."