Edible Oil: India

Edible Oil: India

 

Edible Oil – Today Current Affairs

  • Due to strict measures taken by the government, the prices of edible oil have been under control for the last two years, irrespective of the COVID situation.
  • However, due to the ongoing war in Ukraine, the prices of many commodities, including edible oils, are increasing progressively.

Today Current Affairs

Related case:

  • India’s domestic production of sunflower oil accounts for less than a quarter of the demand, and most of its supply comes from Ukraine. With the Ukrainian war affected, this supply has come to a complete standstill.
  • Due to less supply of sunflower oil, consumers are turning to groundnut and palm oil, thereby increasing their prices.

Recent rise in edible oil prices: The Hindu Analysis

  • Last year, the retail prices of six edible oils- groundnut, mustard, vanaspati, soya, sunflower and palm/palm oil had increased by up to 48 per cent. The reasons for this were the following:
  • A jump in global prices, and lower domestic soybean production. Soybean is the largest oilseed crop in India.
  • Excessive purchase of edible oil by China.
  • Many major oil producers are aggressively pursuing biofuel policies, using edible oil crops to produce ‘biofuels’.
  • Government taxes and duties also constitute a major part of the retail price of edible oils in India.

India’s dependence on edible oil imports: The Hindu Analysis

  • India is the world’s largest importer of vegetable oil.
  • India imports about 60% of its edible oil requirements, making the retail prices of edible oils in the country sensitive to the international market.
  • The country mainly imports palm oil from Indonesia and Malaysia, soya oil from Brazil and Argentina and sunflower oil from Russia and Ukraine.

Key facts about edible oils: The Hindu Analysis

  • The primary sources of edible oil are soybean, white mustard (rapeseed) and mustard, groundnut, sunflower, safflower and niger. Secondary sources of edible oil are ‘palm oil’, coconut, rice bran, cotton seeds and tree-borne oilseeds.

Major challenges in oilseeds production in India: The Hindu Analysis

  • Production of oilseeds is mainly done in ‘rainfed’ areas (about 70% of the area),
  • High cost of seeds (peanuts and soybeans),
  • Small holdings with limited resources,
  • Low seed replacement rate and low productivity.

Here we mention all information about Edible Oil  Today Current Affairs.

Download yojna ias daily current affairs 10 March 2022 Hindi

No Comments

Post A Comment