As India’s festive season unfolds, a sharp rise in edible oil prices is straining household budgets and raising costs for sectors like restaurants, hotels, and sweet shops. Last month, palm oil prices surged by 37%, with mustard oil following close behind at a 29% hike. This surge comes as retail...
The government aims to boost oilseeds production by 64% by 2032, cutting cooking oil imports from 57% to 28%. With limited scope for expanding farmland, the focus is on better seeds, inter-cropping, and using rice fallows. Supported by over Rs 21,000 crore, the plan includes value chain clusters and enhanced...
NITI Aayog’s 2024 report outlines a strategic plan to boost India’s self-reliance in edible oils by expanding palm oil cultivation on wastelands. With over 8.6 million hectares identified for potential growth, this initiative aims to significantly reduce import dependence, increase domestic production, and enhance India’s edible oil security. Palm oil...
Around 85% of the world’s palm oil is produced in Indonesia and Malaysia, and shifting weather patterns in the Equatorial Pacific Ocean, particularly El Niño, may have a significant impact on those nations’ agricultural output. IBT analyses the possible impact on India, given its heavy reliance on palm oil imports....
During the first six months of the current oil year, India experienced a significant increase of approximately 22.29% in imports of edible oils. India imported 80.02 lakh metric tons (LT) of edible oil from November to April, up from 65.43 LT in the same period last year. IBT conducted an...
Since the last 5 decades, Gulab Oils aspired to make healthy and clean food products available to the people of India by debunking the popular perception that good and healthy products are expensive and therefore, inaccessible for ordinary customers. The brand aspires to grow further in its endeavours as it expands...
Dr. Basanta K. Sahu, Faculty (Economics), IIFT, New Delhi discusses how rising demand, low productivity, market volatility, changing cropping patterns and trade policies have led to a rapid rise in imports of edible oil products, which surfaced as a crucial policy concern. He asserts that raising productivity, at least up...
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