India is heavily dependent on imports. In 2021, India imported 56 per cent of their domestic demand of edible oil. Their sales at the retail level is also growing. In 2021, edible oils retail volume sales grew by three per cent to reach 9.9 billion liters2.
Can India achieve self-sufficiency in edible oils?
In 2022-23, India imported 16.5 million tonnes (MT) of edible oils, with domestic production fulfilling only 40-45% of the country¡¯s requirements. This situation presents a substantial challenge to the country¡¯s goal of achieving self-sufficiency in edible oils.
Does rice bran produce edible oil?
Rice bran, offers an estimated potential of 1.9 MT of edible oil, with 0.85 MT currently untapped. Similarly, cottonseed presents a potential for an additional 1.4 MT of edible oil production, contributing to a further 9.7% reduction in the country’s edible oil demand-supply gap or import dependence.
How much edible oil will China Import in 2023?
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.