Edible Oil Sector in India

Santhosh Kumar 21/11/2023

Edible Oil Sector in India mind map
Context
Over past decade
Imports increased 1.5 times
More than doubled in rupee value
Record over 16 million tonnes
Year ending October 2023
Source: IE
Edible Oil
Definition
Plant-based or animal fats
Liquid at room temperature
Used for food preparation
Examples
Olive oil
Vegetable oil
Sunflower oil
Sources of Edible Oil
Seeds
Soybeans
Sunflower
Sesame
Nuts
Olives
Coconuts
Animal fats
Traditionally used
Major traditionally cultivated oilseeds
Groundnut
Rapeseed
Sesame
Safflower
Linseed
Niger seed
Castor oil
India's Position
One of the largest producers globally
World's second-largest consumer
Primary importer of vegetable oil
Fulfillment of Edible Oil Demand
55-60% through imports
Major imports
Palm oil (62%)
From Indonesia
Malaysia
Soybean oil (22%)
From Argentina
Brazil
Sunflower oil (15%)
From Ukraine
Russia
Import policy
Open General License (OGL)
Reasons for Volatility in Edible Oil Prices
Ukraine-Russia war
Disrupted global edible oilseed supply
Year 2021-22
Black Sea Grain Initiative agreement
Facilitated by UN
Turkey
Reopened Ukrainian ports
Safe navigation
Surge in production
Decline in cotton output and yields
Affecting production of other oils
Coconut
Sesame
Sunflower
Increased reliance on imports
Government Initiatives
NMOE (OP)
National Mission on Edible Oils-Oil Palm
Centrally-sponsored scheme
Focus on northeast region
Andaman and Nicobar Islands
RKVY-RAFTAAR
Rashtriya Krishi Vikas Yojana-Raftar
Supports state-level oilseed programs
EVEGOILS
Directorate of Sugar & Vegetable Oils
Data management platform
evegoils.nic.in
For the vegetable oil sector
NFSM-O&S (OP)
National Food Security Mission – Oilseeds and Oil Palm
Increase the production and productivity of oilseeds
Other Initiatives
Increasing the Minimum Support Price (MSP)
Organizing cluster demonstrations
For oilseed crop

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Categories: Industries/Sectors

Tags: 21.11.2023, Newsbits

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