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Mustard oil production increased from 91 to 101 lakh metric tons, palm oil import increased by 31.5 percent in a month

खाने का तेल सस्ता करने के लिए सरकार ने दिया ये सख्त आदेश, अब होगी सीधी कार्रवाई, जानिए पूरा मामला

There has also been a huge increase in the import of palm oil. According to the data of the ministry, there has been an increase of 31.5 percent in imports in the month of August this time as compared to July. India imports large quantities of palm oil from countries like Indonesia and Malaysia.

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This year there has been a record production of mustard in the country and in the coming season more yield is expected from this season. The effect of record production of oilseeds is also being seen on the production of mustard oil. According to the Ministry of Consumer Affairs, Food and Public Distribution, this time 101 lakh metric tonnes of mustard oil has been produced in the country. Last year it was around 91 lakh metric tonnes.

There has also been a huge increase in the import of palm oil. According to the data of the ministry, there has been an increase of 31.5 percent in imports in the month of August this time as compared to July. India imports large quantities of palm oil from countries like Indonesia and Malaysia.

54 percent of palm oil imports from Malaysia and Indonesia

In fact, 60 percent of edible oil is consumed through imports in India due to the demand-supply gap. Palm oil accounts for 54 percent of the total edible oil imported from Indonesia and Malaysia, while soybean oil accounts for around 25 percent, which is imported from Argentina and Brazil. Sunflower oil accounts for 19 percent, which is mainly imported from Ukraine.

Contract production of edible oils is being accorded very high priority in the medium term, which is reflected in the increase in mustard production from 91 LMT to a maximum of 101 LMT this year. In case of Palm Oil (crude and refined), the imported quantity for August 2021 was 7.43 LMT as against 5.65 LMT in July, 2021. A growth of 31.50 percent has been registered in August as compared to the previous month, which is mainly due to the opening up of the economy. The details are tabulated below.

Palm oil imports have decreased

On a year-on-year comparison for the month of August, it can be seen that the total palm oil imports (crude and refined) for 2019, 2020 and 2021 were 8.81 LMT, 7.48 LMT and 7.43 LMT respectively, which is still the economy. less than the normal demand. The production, import and prices of edible oils are closely monitored on day to day basis so that appropriate measures are taken to control the prices of edible oils.

An Inter-Ministerial Committee on Agri-Commodities under the chairmanship of Secretary (Food) also exists to closely monitor the prices and availability of agricultural commodities including edible oil keeping in view the interests of farmers, industry and consumers. The Committee reviews the price position on a weekly basis, considers relevant measures with respect to edible oils and other food articles based on domestic production, demand, domestic and international prices and international trade volumes.

Necessary timely interventions have been made by the Government over the past year to ensure that prices remain stable and the interests of consumers are protected within the limits of international volatility.

Also read- Effect of reduction in import duty is visible on the prices of edible oil, prices have started decreasing before the festive season

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