As per recent reports, cooking oil imports by India, the world¡¯s second-largest buyer, climbed for the fourth straight month because of rising consumption and declining global prices, keeping reserves at a record. A direct repercussion of this is the generation of Waste Cooking Oil (WCO) which is difficult to manage since:
How to predict edible oil production in India?
Modeling and projections of India’s edible oil production were made using the statistical program Python. The demand-supply imbalance and the current import scenario of edible oil into India were collected to analyze the status of edible oil production in India. Then ARIMA algorithm is used to predict edible oil production for the next three years.
Which oil is best for cooking in South India?
Meanwhile, coconut oil is the go-to cooking oil for South Indians. An array of edible oils are produced in the country: palm oil, soybean oil, mustard oil, sunflower oil, and groundnut oil being some of the major ones. However, this does not match consumption demand, making India the leading importer of edible oils in the world.
Will India double oil production in 7 years?
India has approved a 101 billion rupee ($1.2 billion) initiative to double edible oil production within seven years, aiming to reduce reliance on imports. The program will boost oilseed productivity using high-yield varieties and advanced technologies, targeting a production increase from 12.7 to 25.45 million metric tons by 2030-31.