Union Food Minister Pralhad Joshi has requested edible oil business to be immediate on passing the benefits of duty discount on crude edible oils to customers to make sure that customers expertise a corresponding lower in retail costs. He was addressing a round-table assembly organised by the Indian Vegetable Oil Producers’ Association (IVPA) right here on on Thursday (July 24, 2025).
Mr. Joshi requested the IVPA members to focus on worth addition via processing and refining, assist innovation to enhance effectivity and productiveness.
He mentioned the industries can work with Primary Agricultural Credit Societies and Farmers’ Producing Organisations to actively encourage precision agriculture, synthetic intelligence in crop administration, sustainable farming methods, promote high-yield varieties of oilseeds and strengthen the post-harvest worth chain. He mentioned via coverage innovation, elevated funding in agri-tech, and public-private collaborations, India can stay aggressive in the worldwide vegetable oil market whereas securing home wants.
The Minister mentioned in the final ten years, manufacturing of oilseeds elevated by 44% from 275 lakh metric tonnes (LMT) in 2014-15 to 397 LMT in 2023-24 and yield elevated by 22% from 1,075 kilograms per hectare in 2014-15 to 1,314 in 2023-24. “Export of oil meals, oilseeds and minor oils was about 5.44 million tons in the financial year 2023-24 valued at ₹29,587 crore,” he mentioned including that India at present stands at a important juncture in the worldwide edible oil commerce, being one of the biggest customers and importer of vegetable oils. “We import approximately 56% of our edible oil requirements,” he mentioned.
Food Secretary Sanjeev Chopra advised reporters on the sidelines of the assembly that the Union authorities will notify a brand new order to regulate vegetable oil merchandise with fashionable, clear and technologically superior provisions. The 2025 Vegetable Oil Products, Production and Availability Regulation Order, the secretary mentioned, will change the 2011. “The associations have been consulted. It’s in the final stages now, probably by next week it will be notified,” Mr. Chopra mentioned.
