Government of India strives to reduce dependence on vegetable oil imports by 50% by 2025

Published 2020년 6월 16일

Tridge summary

India is planning to reduce its dependence on imported edible oils by half by 2025, as part of a strategy to achieve food self-sufficiency and lower import bills. The country relies heavily on imports of palm oil, soy oil, and sunflower oil, with palm oil accounting for about 60 percent of annual imports. The government is encouraging local oilseed production and plans to increase import tax on edible oils to support domestic production. The states of Andhra Pradesh, Arunachal Pradesh, Assam, Karnataka, Kerala, Mizoram, and Tamil Nadu are being identified for oil palm cultivation. India also plans to replace imports of saffron and asafoetida with domestic production.

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Original content

06/16/2020 Reducing dependence on imported edible oils is part of India's desire for food self-sufficiency. In recent years, much has been said about reducing the huge bill to import vegetable oil in the country, encouraging farmers to increase oilseed production and to allocate more land for oil palm plantations, writes TheStar. Palm oil accounts for about 60 percent of the annual import of vegetable oil to India from 15 million tons per year, and most of it is supplied by the largest producers in Indonesia and Malaysia. The world’s largest importer of edible oils also relies on soy and sunflower oil from Argentina, Brazil, Ukraine and Russia. According to Sandip Bajoria, chief executive officer of the Sunvin Group, a key player in the industry, imports are needed to meet an approximately 70 percent shortage in demand for edible oils in India. The Government of India seeks to reduce import dependence by about half of the country's total needs by 2025. “It's not just about palm ...

Source: Oilbranch