India’s dependency on palm oil imports continues to grow as in August 2021, 7.43 lakh metric tonnes of palm oil was imported, which was 31 per cent more than 5.65 lakh metric tonnes imported in July 2021.
According to figures released by the Ministry of Consumer Affairs, palm oil constitutes around 54 per cent of the total edible oil imported mainly from Indonesia and Malaysia. Soyabean oil constitutes 25 per cent of India’s edible oil imports from Argentina and Brazil, while sunflower forms 19 per cent of total imports and is mainly imported from Ukraine.
Official sources say that due to gap in demand and supply, almost 60 per cent of edible oils consumed in India, are imported.
They further added that daily production is closely watched along with imports and prices of edible oils in order to keep the prices in check.
An inter-ministerial committee on agricultural commodities which is headed by Secretary in the Department of Food, also monitors their availability, especially that of edible oil, sources further said.