With increased dependence on imports, India’s edible oil security is being forfeited as the country continues to import 70 per cent of its total requirements, leading the domestic industry, which is under pressure from imports, to sound the alarm.

At the 45th Annual General Meeting of the Solvent Extractors’ Association of India (SEA) in Goa, experts predicted an increase of about 6-7 per cent in edible oil imports this year (2016-17) to about 154.8 lakh tonnes (lt), from 145 lt.

“Imports have risen to such a level that we have practically forfeited our edible oil security. Even with such high imports the refining industry continues to suffer as India imports almost 40 per cent of its palm requirements in the form of refined palmolein,” said Atul Chaturvedi, the newly-elected President of the SEA.

Output, consumption Noted edible oil expert Govind Patel predicted that India’s per capita consumption will grow at 4.99 per cent, almost double the rate last year. Total consumption is projected at 221.50 lt for the year 2016-17, which will create an import requirement of 154.80 lt.

Patel expects soyabean production to be at 95 lt against 70 lt last year. Despite the sowing area being a tad lower than last year, good rains in the growing regions should see higher yields this year, he said.

Packaging of oils Further, the Association raised concerns over the Centre’s recent notification empowering the government to decide the price and packaging of edible oils.

“It can have very far-reaching and serious repercussions. All the efforts our industry has taken in building brands would get negated,” he said.

“It is rather surprising that such an important piece of legislation has been notified without consultation or deliberation with our Industry. We plan to take this up strongly with the government,” Chaturvedi added.

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