Status of Vegetable Oil Industry-Indian Economy

Dr. P. Subramanyachary

Volume : II, Issue : I, January - 2013

Status of Vegetable Oil Industry-Indian Economy

Dr. P. Subramanyachary

Abstract :

This paper focuses on the importance of Vegetable Oil industry in Indian Economy and suggests measures to growth of this industry. The vegetable oil industry has witnessed significant growth over the past few years on account of a growing population as well as the rising demand for alternative energy sources. Vegetable fats and oils are lipid materials derived from plants. Physically, oils are liquid at room temperature, and fats are solid. Chemically, both fats and oils are composed of triglycerides, as contrasted with waxes which lack glycerin in their structure. Although many different parts of plants may yield oil in commercial practice, oil is extracted primarily from seeds. India is the fourth largest oilseed producing country in the world, next only to USA, China production of 250 million tons per annum. India also accounts for 7.4% of world oilseed output; 6.1% of world oil meal production; 3.9% of world oil meal exports; 5.8% of world vegetable oil production; 11.2% of world vegetable oil imports; and 9.3% of the world edible oil consumption despite an impressive 25–26 million has under oilseeds; production is characterized by low yields. A major problem is the low capacity utilization. There should be measures for check this one. The per capita availability should be increased. For this, policy changes to be needed as per the global dynamics.