India working to ensure no need for edible oil imports - farm minister
NEW DELHI (Reuters) - India is working to promote self-sufficiency in edible oil supply so that the country doesn't need to import to meet domestic demand, Farm Minister Sharad Pawar said on Friday.
India imports about half the 16 million to 17 million tonnes of edible oils it consumes every year, mainly palm oil from Indonesia and Malaysia, and guarantees minimum prices to its farmers to spur production and trim a hefty import bill.
The farm and food ministries have been working together to see that India doesn't need to depend on vegetable oil imports in the next few years, Pawar told reporters at a conference on seed productivity.
India, the world's biggest importer of vegetable oils, buys mainly palm oil from the two south east Asian nations, and a small quantity of soyoil from Brazil and Argentina.
(Reporting by Mayank Bhardwaj; Editing by Jo Winterbottom)
- Tweet this
- Share this
- Digg this
- Analysis - Amazon's far-reaching ambitions, lack of profits, unnerve investors
- U.S. gasoline prices tumble on back of refinery cuts- Lundberg survey
- 'Lucy,' 'Hercules' beat expectations at U.S. weekend box offices
- U.S. diplomats' return to Libya could be more hazardous than exit
- Israel extends Gaza ceasefire for 24 hours, Hamas rejects terms
New Prime Minister Narendra Modi is facing criticism for remaining silent about incidents deemed anti-Muslim in the past week, underscoring fears that his Hindu nationalist followers will upset religious relations in the multi-faith nation. Full Article