IN VEGETABLE OIL SECTOR
The Central Organisation for Oil Industry & Trade
The Central Organisation for Oil Industry & Trade (COOIT) is the National Apex Body representing the interests of the entire vegetable oil sector in the country and has been playing a vital role in increasing production / productivity of oilseed/edible oils. State level Associations, prominent manufacturing/business concerns in Industry & Trade and Export Houses etc. connected with the vegetable oil sector are our members. Established in 1952, COOIT is engaged in the development and growth of the vegetable oil sector which is crucial to our economy.
2.Edible oils and fats are essential ingredients for a wholesome and balanced diet and are vital items of mass consumption. WHO has recommended that the total fat intake as a % of Energy should not be less than 15% and should not exceed 30%. Thus, it plays an important role in Food Sector.
3.According to the projections for oilseeds/edible oils made by the Expert Group constituted under the Ministry of Agriculture by the Planning Commission, the annual requirement/demand for edible oils in the country in terms of consumption of edible oils based on behaviouristic approach was 143.75 lakh tons and 149.49 lakh tons in 2010-11 and 2011-12 respectively.
4.COOIT estimated the production of oilseeds in the Oil Year 2010-2011 at 254.40 lakh tons consisting of kharif 155.65 lakh tons and Rabi 98.75 lakh tons. Total oilseeds production in 2010-2011 was higher by about 26.80 lakh tons over the previous year. On the basis of oilseeds production, the availability of indigenous edible oils would be 85.23 lakh tons as against 77.70 Lakh tons in the previous Oil Year. The oilseed production estimates released by the Ministry of Agriculture for the same period are higher at 311.01 Lakh tons in 2010-2011 (4th Advance Estimates).
5.India’s annual per capita consumption has shown a steadily increasing trend from 4 kg in the 1970s to 10.2 kg in the late 1990s to current levels of ~13.5 - 14 kg. However, it still ranks well below the world average of around 24 kg (per capita figures including consumption of bio-energy), thereby signifying the high growth potential of the industry.
6.India has become the largest importer of vegetable oils in the world. Import of edible oils in the oil year 2010-11 was about 83.71 lakh tones compared to 88.23 lakh tones in the previous year. While indigenous production of oilseeds has increased almost five-fold since independence, it is still inadequate to meet our growing demand of edible oils and over 50% of our requirement has to be met through imports. At about 1000 kgs./ha, Indian oilseed yields are about half of the world’s average and less than one-third of leading producers. India is the 5th largest oilseed crop producing country in the world.
7.The allocations made in the last two Union Budgets do not seem to make any visible impact to cope up with the requirement/demand for oilseeds in order to meet the deficit of edible oils in the country in near future. In addition, Hon’ble Finance Minister has not announced in the last two Budgets any short term/medium term measures in domestic edible oil sector.
8.The details of the Pre-Budget Memorandum 2012-2013 relating to the vegetable oils / oilseeds sector are enclosed.
9.COOIT’s precise recommendations for the Pre-Budget Memorandum 2012-2013 relating to the vegetable oils / oilseeds sector of India’s agro-economy for kind and favourable consideration by the Government of India for inclusion in the Budget Proposals 2012-2013 are as under:-
(1)SELFSUFFIENCY SO AS to meet the nutritional deficit of edible oils in the country in near future
i) An immediate plan may be prepared for raising productivity of oilseeds by at least 40% from the current level in the next 5 years. This is an achievable target, with use of...