Production of oil from Mustard Seeds increased from 91 LMT to 101 LMT this year - Agrovista Profits Latest Agriculture News and Updates

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Thursday, September 9, 2021

Production of oil from Mustard Seeds increased from 91 LMT to 101 LMT this year

 

Production of oil from Mustard Seeds increased from 91 LMT to 101 LMT this year

60% of edible oil consumed in India is through import because of the demand-supply gap

Due to a gap between demand and supply, around 60% of the edible oils consumed in the country are met through imports. In this accord, palm oil constitutes around 54% of the total edible oil imported mainly from Indonesia and Malaysia, while Soyabean oil constitutes around 25% and is imported from Argentina and Brazil and Sunflower oil constitutes 19% and is imported mainly from Ukraine.

In medium-term contract production of edible oils is being given very high priority which is reflected in the highest production of Mustard seeds from 91 LMT to 101 LMT this year.

In case of Palm Oil (crude and refined), the imported quantity for August 2021 was 7.43 LMT as against 5.65 LMT in July, 2021. The percent increase in August is 31.50% from the previous month which largely due to opening up of the economy. Details are tabulated below:

Importof Palm Oil(LMT)

Oil

20-Nov

20-Dec

21-Jan

21-Feb

21-Mar

21-Apr

21- May

21-Jun

21-Jul

21-Aug

Crude

Palm

Oil

6.14

7.64

7.51

4.51

4.74

6.73

7.47

5.84

5.46

5.27

RBD

Palmolein

0.15

0.06

0.02

0.061

0.026

0.004

0.0022

0.02

0.19

2.16

Total

Palm

Oil Imports

6.29

7.7

7.53

4.571

4.766

6.734

7.4722

5.86

5.65

7.43










Source-Directorate General ofCommercial Intelligence and Statistics(DGCIS)

 Taking year on year comparison for the month of August it can be seen that the total palm oil imports (crude and refined) for 2019, 2020 and 2021 was 8.81 LMT, 7.48 LMT and 7.43 LMT respectively which is still below the usual demand in the economy.

ImportofPalm Oil(LMT)

Oil

19-Aug

20-Aug

21-Aug

CrudePalmOil

5.78

7.48

5.27

RBDPalmolein

3.03

-*

2.16

TotalPalmOil Imports

8.81

7.48

7.43





Source-Directorate General of Commercial Intelligence and Statistics(DGCIS)

*RBD palmolein was in the restricted list till 30thJune2021

A close watch is kept on day to day basis on Production, Imports, and prices of Edible oils and so that appropriate measures can be taken to keep a check on the prices of edible oil.

An Inter-Ministerial Committee on Agri-Commodities chaired by Secretary (Food) is also in place to closely monitor the prices and availability of agricultural commodities including edible oil keeping in view the interest of the farmer, industry, and consumers. The committee reviews the price situation on weekly basis, considers relevant measures in relation to edible oils and other food items depending on the domestic production, demand, domestic and international prices, and international trade volumes.

Timely interventions by the Government have been made in the last year as and when needed so as to ensure that the prices remain stable and the interest of consumers is protected within the limitations of international fluctuations.


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