Govt does not foresee any supply pressure on edible oil: Official
The Indian government said there is no immediate risk to edible oil supplies or prices, citing stable stocks, strong domestic production and regular imports. Officials noted that peak export season in major producing countries and imports via unaffected routes should ensure adequate availability in coming months.
The government does not foresee any pressure on edible oil now or in the coming days, C. Shikha, Joint Secretary at the Dept of Food and Public Distribution told reporters at the bi-weekly inter-ministerial briefing about the situation in West Asia Monday.
“We are closely monitoring and we do not foresee any foresee any pressure now or in the days to come,” she stated, adding, “This is primarily because in exporting countries, the season is going to peak between June and September.”
In her address, the senior bureaucrat emphasised that India’s stock position with respect to edible oil is stable.
She elaborated the dynamics hinged on having secured regular imports, robust domestic production and existing stocks.
The Joint Secretary pointed to imports of palm oil continuing from Indonesia and Malaysia, sunflower oil from Russia and Ukraine and soyabean oil from Brazil and Argentina.
“Import from these countries is largely through unaffected trade routes such as Strait of Malacca and Indian Ocean,” she explained.
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Source : The Hindu
