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Title : DETAILS OF THE VEGETABLE OIL IMPORTS IN INDIA (Prelims Specific Topic )


Date : Dec 15, 2021

Description :
  • What exactly is the problem:

 

  • In both volume and value terms, Indian vegetable oil imports have increased dramatically.
  • To protect domestic manufacturers, the Union government must take appropriate actions.

 

  • In this aspect, how reliant is India on imports:

 

  • India imports about 14 million tonnes of vegetable oil.
  • This is worth around $11 billion (around Rs. 70,000 crore).
  • Imports of vegetable oil are only second to crude and gold in terms of value.
  • It is the highest price for any food item.
  • India's reliance on imports has increased to more than 70%.

 

  • What are the issues at hand:

 

  • Farmers - India's oilseed growers are suffering as a result of rising imports.
  • The planted acreage has remained constant, while yields have remained abysmally low.
  • This is due to the fact that growers have no financial incentive to enhance their agronomic practises.
  • The marketability of the crop grown is also low due to the lack of a price support mechanism.
  • Market - Over the previous 25 years, liberal policies such as zero or low duty rates and free market activities have contributed to unrestricted imports.
  • This has operated against the protection of domestic growers' interests.
  • Speculation accounts for about 10-15% of current import volume.
  • It frequently denotes the transportation of stock from Indonesia and Malaysia to India.
  • In India, huge stocks of up to 2 million tonnes have frequently piled up, hurting the domestic market.

 

  • Source à The Hindu à 14/12/21 à Page Number 12

Tags : Indonesia, Malaysia

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