We all know how important edible oil is for domestic use. It has a market value of worth 2.28 lakh crore. India imports almost 60% of edible oil in almost crude oil form; another 40% is produced in India. In 2023, we imported almost 47,295 tons, 804,000 tons in 2025 and finally, in 2026 almost 3 lakh crore worth of imports from foreign land. It has increased almost 17 times more than before. The question is are we not aware or skilled enough to upgrade ?
India is one of the largest importers in the world. We import sunflower oil from Russia and Ukraine, soybean oil from Argentina and Brazil and Palm Oil from Malaysia and Indonesia. It all comes from crude form without any refinery procedures, with refinery it would cost more. According to data around 2000 to 2500 crore loss per year, due to lack of edible oil refinery work, the Indian Vegetable Oil Producers Association has requested the Prime Minister Modi for reassurance to protect their indigenous work and employment which is moving outside the country.
We are importing a large chunk from Nepal, but the interesting fact is Nepal does not produce in their homeland, they import then refine and sell it to India. Actually, it is a long and lengthy procedure from import to refinery, then production to packaging and supply. It creates massive employment for everyone and economic growth happens overall in Nepal.
India has to shift its stand and produce 100% of edible oil to export various countries in large scale. We have to reduce external dependency to enrich our country. The undermining rupee's value would only regain if export get more than import. One war situation or economic crisis, if western countries stop supplying exactly like the LPG crisis. It would impact the nation in all aspects.
