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Edible Oil Sector in India

Santhosh Kumar 21/11/2023
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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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