Amid the ban on the export of palm oil by Indonesia, the Government on Sunday claimed that India has optimum stock of all edible oils. Quoting industry sources, the Ministry of Consumer Affairs has said that the present stock of all edible oils in the country is around 21 LMT (lakh metric tonne) while another 12 LMT is in transit, arriving in May 2022 in the country.
On the oilseeds front, the Department of Agriculture and Farmers Welfare's second advance estimate released in February 2022 shows a positive picture of soyabean production for the year 20221-22 at 126.10 LMT, which is higher than last year's production of 112 LMT, the ministry said.
As a result of the higher sowing of Mustard seeds by 37 per cent in all major producing states including Rajasthan in comparison with last year, the production may rise to 114 LMT in the 2021-22 season.
Palm oil (Crude + Refined) constitutes roughly around 62% of the total edible oils imported and are imported mainly from Indonesia and Malaysia, while Soyabean oil (22%) is imported from Argentina and Brazil and Sunflower oil (15%) is imported mainly from Ukraine and Russia.
In a statement, the ministry said that a close watch is being kept on day to day basis on prices of Edible oils so that appropriate measures can be taken to keep a check on the prices of edible oil for ensuring that the prices remain stable and interest of consumers are protected.
The Inter-Ministerial Committee held weekly on Agri-Commodities chaired by Secretary (Food) closely monitors the prices and availability of agricultural commodities including edible oil keeping in view the interest of the farmers, industry and consumers.
The committee reviews price situation on weekly basis, consider 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. Special teams have also been constituted by both Central & State Governments to prevent hoarding and profiteering under the Essential Commodities Act. These surprise checks shall continue to check unscrupulous elements.