NEW DELHI: The National Dairy Development Board intends to increase domestic production through oilseeds farmers who would be assisted through cooperatives in order to minimise India's reliance on imported edible oil.
India continues to rely on imports to cover 50 to 60 percent of its edible oil requirements. During the 2020-21 fiscal year, the government imported almost 13.5 million MT of edible oil. The overall cost of imports in 2020-21 was Rs 1,17,000 crore, owing to a substantial price increase in the foreign market.
The NDDB stated that "the current scenario of rising edible oil prices has impacted local costs as well, leading to a renewed interest in domestic production."
It stated that it has taken a number of steps to assist the Karnataka Cooperative Oilseeds Growers' Federation Ltd (KOF), a state-level apex federation made up of three regional oilseeds growers' unions distributed over 15 of the state's 31 districts. KOF and its member unions handled about 38,500 MT of edible oil in 2021-22, with a combined turnover of around Rs 630 crore.
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