Last Updated : 17 January 2013 at 11:55 IST
India to raise Palm Oil production by 2.5-3 lakh tons in 5 years to bridge demand-supply gap
Source :Commodity Online/PIB
The programme intends to increase oil palm cultivation by 60,000 hectares all over India.In South India, 700 more acres will brought under oil palm in Tamilnadu at a cost of Rs 4.2 crore. India accounts for 12-15% of the area under oilseeds and 6-7% of the production of vegetable oil in the world. Despite annual production of about 27.00 million tonnes of oilseeds in the country, the availability of edible oil is not sufficient to meet the domestic demand.
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NEW DELHI (Commodity Online): India is planning to augment its existing palm oil production from 2.5 to 3 lakh tons in five years under a new initiative called the Special Programme on Oil Palm Area Expansion (OPAE).
The programme intends to increase oil palm cultivation by 60,000 hectares all over India. It has also been decided that the expansion of area under cultivation will be concentrated on area under the purview of existing mills so as to increase the technical and economic viability of operations.
In South India, 700 more acres will brought under oil palm in Tamilnadu at a cost of Rs 4.2 crore. India accounts for 12-15% of the area under oilseeds and 6-7% of the production of vegetable oil in the world. Despite annual production of about 27.00 million tonnes of oilseeds in the country, the availability of edible oil is not sufficient to meet the domestic demand.
Meanwhile, the Solvent Extractors Association of India (SEA) said that import of vegetable oils rose 35% in December 2012 to 901,092 tons at compared to 669,912 tons in December 2011, consisting of 875,994 tons of edible oils. Lower crushing demand on poor export of oilmeals has caused domestic production of vegetable oils to slowdown while lower international prices of palm oil has pushed import of palm products even during winter season.
Import of Vegetable Oils during Oil Year 2011-12 (Nov.’11 to Oct.’12) i.e. edible oil and non-edible oil set a new record and reported at 101.9 lakh tons compared to 86.7 lakh tons for the same period of last year i.e. up by 17.53%. Import of Vegetable Oils during October 2012:Import of Vegetable Oils during October 2012 is reported at 1,036,107 tons compared to 894,045 tons for Oct.’11 i.e. up by 15.89%
The almost stagnant domestic production of oilseeds and increased per capita consumption of edible oils has increased the dependency on imports in recent years. The country currently produces less than 50 % of its requirement of edible oils. The growth of the economy is expected to lead to increased per capita consumption of edible oils in the future resulting in greater import dependency.
(With inputs from Dr K Parameswaran, Press Information Bureau)
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