Right now, vegetable oil stocks at India’s ports are close to 3.5 million mt, almost double the 1.8 million mt at this time last year. So, there is no concern that supply will be lacking, Mehta said.
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.
How much vegetable oil will India import in 2022-23?
India’s vegetable oil imports could range between 14.5 million mt¨C15 million mt in the marketing year 2022-23 (November-October), the highest since 2019-20, amid rising demand, said B.V. Mehta, executive director of the Solvent Extractors’ Association of India. Not registered?
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.