Edi Oil

97 Edible Oils Different agro climatic zones facilitate production of a wide range of vegetable oilseed crops inIndia.Groundnut and soyabean in kharif, and rapeseed/mustard in rabi together contribute about 85 per cent of the earths oilseeds production. A major area of concern is that patronage the growth in production of oilseeds over the years (22 meg tonnes), and of the resultant oil (65-70 lakh tonnes), India has not been able to entertain pace with the domestic demand for edible oils which has risen at the rate of 4-5 per cent per annum and is now estimated at over ampere- cooperate lakh tonnes. 5.49 There has been a persistent fling surrounded by demand and domestic availability of edible oils. The Directorate of vegetable and Vanaspati oils and Fats have estimated a demand of 101 lakh tonnes for 2000-01. The both(prenominal)er of short supply and the resultant demand and supply gap can be rectified either through change magnitude domestic production and productivity or by upshoting edible oils to supplement domestic supply. 5.50 There have been weekly changes in the Import policy in respect of edible oils during the past few years. Import of edible oil was brought chthonian Open General License (OGL) in 1994-95 before which import was canalised and restricted.

Imports of oils peaked after 1994-95 due to the enlargement of the basket of oils down the stairs OGL. International prices of edible oil were quite high during second half of 1998. However, after February 1999 world prices began to drop rapidly. Soya oil dropped from $638 c.i.f. in November 1998 to $335 in November 2000. Malaysian RBD palmolein dropped from a peak of $695 watch pocket in November 1998 to $363 in November 1999 and to $242 in November 2000. The domestic prices of edible oils both at the wholesale and retail level also declined steady during 1999, in line with the declining international prices. Import duty on edible oils was therefore raised in December 1999 to defend the domestic producers. This did not result in any reducing in imports, rather... If you want to get a full essay, tell it on our website: Orderessay

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