Food Oil Production In India: Slowly it is getting colder. Wedding season is going on. This season is perfect for oil consumption. But if we look at the current market situation, the market of oil prices has fallen. In some places, its mixed attitude is being seen. Experts are giving many reasons behind this. Experts say that the prices of mustard oil, groundnut oil, soybean oilseeds, crude palm oil and palmolein oil have improved than before. At the same time, the cheapness of imported oil has had an effect on soybean oils. Its prices have registered a decline.
9 lakh tonnes imported
Even though oilseed crops are being produced in lakhs of hectares in the country. But the dependence of the country’s oil on other countries is also very high. According to media reports, an increase of 6.8 percent i.e. about 9 lakh tonnes in the import of edible oils has been recorded in the oil year ended last November. Foreign exchange expenditure on edible oil imports has also increased from Rs 1,17,000 crore to Rs 1,57,000 crore. Experts say that the prices of country’s oilseed crops are a bit high, while imported oil is cheaper in the market. Due to cheap oil, the prices of domestic oils are being affected in the country.
Sunflower, soybean oil prices declined
According to media reports, if we talk about the price of sunflower and soybean oil, then in the last 6 months, a decline has been seen in its price abroad by about Rs 70-90 per kg. To correct the prices of these oils, quota system was applied while making the imports duty free. But even this has not had much effect on the prices.
Heavy demand, but little improvement
Due to low prices, the demand for crude palm oil and palmolein oil has increased significantly. Consumption has increased due to high demand. Due to this, there has been a slight improvement in their prices. However, behind the consumption of these products, one more thing has come to the fore that Palm, Palmolein does not affect much on the price of indigenous oils. It is used more by people belonging to weaker sections. The biggest impact on indigenous oil and oilseeds is seen in oils like sunflower and soybean. Middle and upper class people use it more.
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Disclaimer: Some of the information given in the news is based on media reports. Farmer brothers, before implementing any suggestion, do consult the concerned expert.