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% 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 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.
How will a high-oil seed production programme improve productivity?
Under the programme, oilseed productivity will be increased by promoting high-yielding, high-oil content varieties and expanding cultivation. Advanced technologies like genome editing will be used to develop superior seeds, the statement said.