This adjustment aims to address the escalating edible oil prices, thereby strengthening and revitalizing the domestic refining sector.
Edible Oils Scenario in India
- About: Edible oils are mainly vegetable oils that are subjected to several processes to remove undesirable constituents.
- To make them suitable for human consumption, most edible oils are subjected to refining processes, such as neutralization, bleaching and deodorization.
- Major 9 edible oil crops in India: Groundnut, rapeseed-mustard, soybean, sunflower, sesame, safflower, nigerseed, castor and linseed.
- Status:
- India accounts for approx.15-20% of the global oilseed area, 6-7% of vegetable oil production, and 9-10% of total consumption.
- India is heavily dependent on imports to meet its edible oil requirements and is the world’s largest importer of vegetable oils, followed by China and the USA.
- Of all the imported edible oils, the share of palm oil is about 57%, followed by soybean oil (29%) and sunflower (14%).
- Among 9 major oilseeds, soybean (34%), rapeseed & mustard (31%) and groundnut (27%) contribute to more than 92% of total oilseeds production in the country.
Other Initiatives taken to Increase domestic edible oil production
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