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LATEST NEWS UPDATES | India has an edible oil problem, but palm oil won't fix it -Sayantan Bera

India has an edible oil problem, but palm oil won't fix it -Sayantan Bera

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published Published on Sep 8, 2021   modified Modified on Sep 8, 2021

-Livemint.com

* Amid soaring cooking oil prices, India has a new plan to grow oil palm locally. Is the solution worse than the problem?

* India plans to add about 2.5 million tonnes of home grown crude palm oil by 2030. Its 11,000-cr national mission on oil palm focuses on north-east and Andaman and Nicobar Islands

M V. Ramoji Rao is a seasoned dentist and a busy one too. It’s not easy to serve as the principal of a dental college while also managing a 20-acre farm in the fertile Krishna district of Andhra Pradesh. So, a decade ago, when Rao was introduced to oil palm—a perennial plantation crop that can be managed remotely—he took the plunge. It turned out to be a wise decision financially.

As edible oil prices touched record highs this year, Rao earned his fair share, close to 10 lakh in net profits, something he could never fetch through paddy—the crop he used to grow earlier.

But that’s only half the story. About three years ago, many farmers in Rao’s district had uprooted their plantations when the price of fresh fruit bunches of oil palm hovered around 8,000 a tonne—less than half of the current market price.

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Livemint.com, 8 September, 2021, https://www.livemint.com/industry/agriculture/why-palm-won-t-fix-india-s-edible-oil-woes-11631030523143.html


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