The programme aims to increase edible oil production from the current 12.7 million metric tons to 25.45 million tons by 2030-31, fulfilling around 72 per cent of the country’s projected domestic requirement. The country’s edible oil import bill surged to $15 billion in 2023/24 from $2.2 billion in 2006/07.
Which vegetable oil is the most popular in Russia?
Sunflower seed oil is the most popular vegetable oil in Russia where it is commonly used for cooking. Despite the increasing availability of other kinds of oil, such as olive oil, rapeseed oil, and flaxseed oil, sunflower seed oil still ranks first in the oil consumption in Russia.
Which country imports the most edible oil in the world?
The world’s largest importer of edible oils, India currently fulfils nearly two-thirds of its demand through overseas purchases of palm oil, soyoil, and sunflower oil, primarily from Indonesia, Malaysia, Argentina, Brazil, Russia, and Ukraine.
Will India double edible oil production in 7 years?
Edible Oil (Photo: Wikipedia) India on Thursday approved a Rs 10,100 crore ($1.2 billion) programme to double edible oil production in the country within seven years, aiming to reduce dependence on costlier imports, the government said in a statement.