Solution:Year | Net availability of Edible Oils from all Domestic Sources (lakh tonnes ) | Import (lakh tonnes) |
2011-12 | 89.57 | 99.43 |
2012-13 | 92.19 | 106.05 |
2013-14 | 100.80 | 109.76 |
2014-15 | 89.78 | 127.31 |
2015-16 | 86.30 | 148.50 |
2016-17 | 100.99 | 153.17 |
2017-18 | 103.80 | 154.00 |
2018-19 | 103.52 | 150.00 |
2019-20 | 106.00 | 144.56 |
2020-21 | 122.89 | 133.52 |
From the above table, it is clear that the quantity of imported edible oils is more than the domestic production of edible oils in the previous years. As per the data of the Solvent Extractors' Association of India (SEA), import of vegetable oils during oil year 2022-23 (Nov.2022 to Oct. 2023) is reported at 167.1 lakh tonnes (edible oils - 164.7 lakh tonnes & non- edible oils - 2.4 lakh tonnes) compared to 144.1 lakh tonnes during 2021-22 i.e. up by 16 percent.
According to ICRA, India occupies prominent position in the world oilseeds industry with contribution of around 10% in worldwide production. But the demand of edible oils (extracted from oilseeds in addition to palm oil) is significantly higher than the domestic production, leading to dependence on imports. Thus, statement 1 is correct.
In order to harmonize the interests of farmers, processors and consumers and at the same time, regulate large import of edible oils to the extent possible, the import duty structure on edible oils is reviewed from time to time. At present, the government has been reducing customs duty on imported edible oils to cool down domestic prices. Hence, statement 2 is incorrect.