Page 138 - CW E-Magazine (10-9-2024)

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TOWARDS SELF-SUFFICIENCY

NITI Aayog report calls for MSP, higher duties to tackle

rising import dependency for edible oil

The Government is staring at a ‘sub- consumption. India is also the world’s
stantial challenge’ in self-sufficiency in fifth largest producer of soybean and
edible oils as the per capita consump- soybean oil after Brazil, USA, Argen-
tion has significantly risen to 19.7 kg/ tina and China, making up for 3.72%
year, outpacing domestic production, and 2.14% of the global market share.
NITI Aayog has said in its report on However, despite ranking among the
‘Pathways and Strategy for Accelera- largest producers, the report cited ‘signi-
ting Growth in Edible Oil Towards ficant disparities’ in yield compared to
Goal of Atmanirbharta’. recommended, as was suggested by other major producers over past many
the Commission for Agricultural Costs & decades.
This surge in demand is leading to Prices (CACP). The NITI Aayog
a greater reliance on imports to meet report has proposed a roadmap to address The report also recommends deve-
domestic and industrial requirement, challenges, and suggests ways to bridge loping the Bundelkhand region in
the report said, as India’s own produc- the demand-supply gap while deve- Madhya Pradesh and Uttar Pradesh,
tion is fulfilling less than half of the loping self-sufficiency. The NITI Aayog which is suitable for oilseed cultivation.
requirement. India currently fulfils only report said quality seeds alone can The rice bran industry too can offer
40-45% of the edible oil requirements contribute significantly by as much as potential for domestic edible oil pro-
via domestic production and relies on 15-20% to increased domestic production. duction, the report said, as it can yield
imports for the rest. The rise in overall It added that the vegetable oil space is nearly a million tonne of oil that can be
consumption has pushed India’s import characterised by small-scale, low-tech- blended with popular cooking oils.
dependency ratio to 57% in 2022-23. nology plants which are only utilising
30% of the edible oil refining capacity. India was the world’s biggest vege-
Among other measures, the report table oil importer in 2022, meeting
has recommended an increase in import The NITI Aayog report has pro- over 70% of the vegetable oil demand
taxes on vegetable oils in order to help jected a targeted ramp up of oilseeds through overseas supply. In July, India’s
farmers facing lower oilseed prices. production to 43-mt by 2030 and 55-mt vegetable oil imports rose by 22.2% to
The report has backed a flexible tariff by 2047, up from 37.96-mt in 2021-22. 1.9-million mt, the second highest on
and Minimum Support Price (MSP) record. India buys palm oil chiefly from
for oilseeds, as a strategic approach India is a significant player in the Indonesia, Malaysia and Thailand,
to ease out imports. Alternately, a 10- global edible oil space, ranking fourth while imports soyoil and sunflower
15 percent hike in the duty differential after the USA, China, and Brazil, oil from Argentina, Brazil, Russia and
between crude and refined oils is also accounting for 9-10% of total worldwide Ukraine.
INSECTICIDES

Meghmani Organics starts commercial production
of Dinotefuran, Ethiprole and Flonicamid in Dahej

Meghmani Organics Ltd. (MOL) dedicated facilities for the produc- Flubendamide, Spiromesifen, and
has started commercial production of tion of Ethiprole and Flonicamid, and Pymetrozine.
three insecticides – Ethiprole, Dinote- is fully backward integrated with in-
furan and Flonicamid – at its plant in house production of key intermediates The company revealed that it has a
Dahej, Gujarat. for these products. In 2024, MOL has few more new generation generic pro-
also introduced several new products, ducts under R&D to be launched in
The company has established new, including Beta-Cyfluthrin, Cyfluthrin, early 2025.

138 Chemical Weekly September 10, 2024

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